sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« VAT (Value Added Tax) »
 Haryana government uploads photos of VAT defaulters
 Filing of online return for 4th quarter of 2017-18 extension of period thereof.
 No Cenvat credit admissible on outward transportation services from factory to buyer’s premises
  Filing of reconciliation return in form 9 for the year 2016-17
 Govt may send notice to 162 companies; ask for VAT returns
 Cenvat Credit Is Not Income Liable To Be Taxed
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
 Cenvat Credit Rules, 2017 III Part
 VAT phased out in TS

Government to announce new VAT rates in October
September, 23rd 2016

Saint Lucians could look forward to a reduction in the Value Added Tax (VAT) before the end of the year, according to Prime Minister Allen Chastanet who recently stated that his government is looking at an October deadline.

The prime minister who addressed a press conference on Monday a few days after his first 100 days in office, said his government is working assiduously to deliver on promises made during the election campaign.

Chastanet said that a new VAT rate should be announced by the end of October.

“We have commissioned Ernst and Young to do a tax audit to review the existing tax structures that we have, and in particular VAT, to be able to come up with a number that everybody is going to be comfortable with,” he said.

According to him, the government is now in receipt of the Caribbean Development Bank report and is expected to get the Ernst and Young report in another three weeks.

“Once we have that, I am intending to announce the new VAT rate by the end of October.”

Minister within the Ministry of Finance Dr. Ubaldus Raymond said a reduction in the VAT will not compromise the country’s finances nor will it increase the burden on the public purse.

But the opposition Saint Lucia Labour Party has predicted that the current administration will be forced to restructure its tax system, in light of plans to introduce a reduction in VAT.

Opposition Leader Phillip J. Pierre has said that government will have no choice but to either re-introduce consumption tax or reduce incentives given to the local tourism industry, once VAT is introduced.

Saint Lucia was one of the last countries of the Eastern Caribbean Currency Union to introduce VAT in 2012.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions