The Government of Saint Kitts and Nevis is pursuing several efforts to relieve financial pressures on importers and businesses to encourage economic activity throughout the Federation.
In response to the persistent financial challenges that businesses confront, the Government has decided to extend the temporary tax rate reductions for businesses, extend the temporary reduction in the Excise Tax, and reduce the average food freight charges at the 2019 price cap for importers.
Prime Minister and Minister of Finance, Hon. Dr. Terrance Drew stated that these initiatives are part of the Government’s ongoing economic recovery plan, which will greatly benefit importers, businesses, and households.
“The objective is to help to sustain business operations within the Federation, boost employment opportunities, improve the livelihoods of our citizens and residents, and contribute to the overall economic recovery within our beloved Federation as we continue to work towards becoming a Sustainable Island State”, Prime Minister Drew stated.