Reminders

"The Inland Revenue Department is requesting all taxpayers whose personal information is obsolete, to kindly visit the office at their earliest convenience to facilitate updates"

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The Automatic Exchange of Information (AEOI) Competent Authority for the Federation of Saint Kitts and Nevis has revised the filing deadline for FATCA and CRS reporting

The Saint Kitts and Nevis AEOI Competent Authority wishes to advise the Financial Institutions that it is now extending its FATCA reporting deadline for the 2019 reporting period to 30th November 2020.
The Saint Kitts and Nevis AEOI Competent Authority is also extending its CRS reporting deadline for the 2020 reporting period to 30th November 2020.

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Liquor Licence

The St.Kitts and Nevis Government has suspended all Liquor Licence renewals until further notice.

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Liquor Licence

All Liquor Licence renewals start at the Sir Lee Llewelyn Moore Judicial Complex (Court's Cashier.) The stub given there, should be presented to the Inland Revenue Department in order to process the Licence.

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The Due Date for Payment of Property Tax 2020 has been extended to September 30, 2020, as per the initiative outlined in the COVID-19 Stimulus Package 2020"

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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.

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OBJECTIONS AND APPEALS


It is the right of any taxpayer to object to and Demand Notice or Assessment issued.

WHAT INFORMATION DO I NEED TO PROVIDE?

The Notice of Objection must include:

• The taxpayer's name

• Account or taxpayer’s number

• Taxation statute under which the assessment or disallowance was issued

• Date and number of the assessment

• Period or transaction in question

• Amount of tax or refund, and

• Description of issue(s)

• Facts and reasons for objection

HOW TO OBJECT?

A Notice of Objection can be filed by completing a Notice of Objection form.

IS THERE A COST FOR FILING AN OBJECTION?

There is no cost to file a Notice of Objection.

DO I HAVE TO FILE THE NOTICE OF OBJECTION WITHIN A SPECIFIED TIME FRAME?

Under the Income Tax Ordinance, 1966 – 17 taxation statutes, a Notice of Objection must be filed within 30 days from the day the Notice of Assessment, Notice of Reassessment or Statement of Disallowance was issued.

DO I HAVE TO PAY THE AMOUNT ASSESSED THAT IS IN DISPUTE WHILE THE OBJECTION IS UNDER REVIEW?


Yes, payment is required even if you have filed, or intend to file, a Notice of Objection. There are no provisions in the Income Tax Ordinance, 1966 – 17, tax statutes that allow for the suspension of payment of an amount that has been assessed, but is in dispute, pending the outcome of the Notice of Objection or Notice of Appeal process. Even though a taxpayer has lodged an objection against an assessment, or has noted an appeal against the disallowance of an objection to an assessment, they must pay the tax reflected as due. Payment of an assessment is not suspended by an appeal. Additional interest will be assessed on the principal liability if full payment is not received when the assessed amount is due.

Taxpayers who successfully object or appeal will be paid interest on any amounts paid on an assessment, from the dates the payments were made. However, the amount refunded, including interest, will first go to reducing other tax liabilities owed to IRD before any refund is made.


 

TIPS
  • Taxable entities and individuals are reminded that all documents are to be kept for a period of 6 years. Approval must be granted by the Comptroller for earlier disposal of the same.