Income Tax for Saint Christopher and Nevis
The Income Tax Act was passed in 1966 and came into force on the first day of January 1967. It made provisions for income tax to be charged on both individuals and corporate entities. Income tax on individuals was abolished in 1980.
There are two Acts which taxpayers need to be familiar with when filing Income Tax Return for corporations. The specific rules on the income that is taxable, as well as the various available deductions and exemptions, are outlined in the Income Tax Act Cap 20.22. The administrative and procedural rules are outlined in the Tax Administration and Procedures Act (TAPA), 2003. This Act specifies the filing deadlines, penalties and interest charges, other fees chargeable for various infractions of tax laws, and other general procedures and processes.
Taxpayers are reminded that property tax is due and payable each year, on or before June 30th.
NB All property bills with arrears, must first be queried at the Customer Service Section, before payment is made. Property bills without arrears should be taken directly to the Cashier Section for payment.
All vehicle owners whose licence plate ends with 1, must renew their vehicle licence before January 31st. Similarly, if your vehicle licence plate ends with 2, you must renew your vehicle licence before February 29th to avoid interest charges and ticketing fees..
All insurance companies are reminded that a statement showing the number of policies issued, the value of every policy and any other information required by the Accountant General must accompany the registration fee remittance and the insurance premium remittance. The forms can be found under Form & Guides tab then click on Tax Returns.