Published 26 June 2018
Buckie Got It, St. Kitts and Nevis News Source
REVENUE COLLECTION INCLUDING PROPERTY TAX COMPLIANCE AT ALL TIME HIGH UNDER TEAM UNITY ADMINISTRATION
BASSETERRE, St. Kitts, June 26, 2018 (Press Unit in the Office of the Prime Minister) – The Prime Minister of St. Kitts and Nevis, Dr. the Honourable Timothy Harris, has revealed that since assuming office, the Government has witnessed a significant increase in tax collections in the country over the period 2015 to 2017.
This is testament to the strength of the Federation’s economy as a result of the good governance and prudent fiscal management of the country’s resources under the leadership of the Team Unity Administration.
Speaking at the blessing and ribbon cutting ceremony for the opening of the new Inland Revenue Department (IRD) office on Monday (June 25), Prime Minister Harris stated that the largest collection by the Inland Revenue Department occurred in 2015 when the department collected over $241 million.
Prime Minister Harris, who is also Minister of Finance, added that, “Last year, 2017, the revenue collection at the Inland Revenue Department was $239 million. I am happy that during the course of my administration’s life, every year the collection has been higher than in any other year prior to us.”
The highest year of collection under the former administration was recorded in 2014, and that figure stood at $217 million.
Additionally, Comptroller of the St. Kitts and Nevis Department of Inland Revenue, Mr. Edward Gift, disclosed that Property Tax compliance is also at an all time high under the present administration.
Mr. Gift noted that in 2011, tax compliance was at 27 percent; in 2012, it moved to 32 percent; in 2013 and 2014, tax compliance stood at 33 percent. In 2015, the IRD saw an improvement in tax compliance to 35 percent; in 2016, it again increased to 40 percent, and in 2017, the department saw another increase in tax compliance to 47 percent, which is the highest in the department’s history.
The prime minister commended the staff of the Inland Revenue Department and further encouraged compliance by citizens and residents in regards to the various tax laws and obligations, noting, “Without higher and effective compliance of taxes, we couldn’t speak of the build out of the East Line Bus Terminal that is now taking place to help all those who travel from Saddlers, Tabernacle, Cayon and elsewhere into Basseterre and out of Basseterre. The second cruise pier and even the health centre in Tabernacle could not have started without there being robust revenues.”
In 2017, the Inland Revenue Department also registered consecutive years of record new business licenses that have been granted in St. Kitts and Nevis.
