Government announces tax relief

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Government announces tax relief

(PRESS RELEASE) – The Government of Saint Lucia continues to deliver on tax relief measures and passed an amendment to allow Residential property owners to benefit from a three-year exemption on Land and House Tax Act for 2017, 2018 and 2019.

The relief measure forms part of the Government’s “Five to Stay Alive” pre-election promise which has already seen the Government reduce the Value Added Tax (VAT), cut the former administration’s Vehicle License Increase by 50 percent and increase the School Feeding Programme and School Transportation subsidies.

Prime Minister and Minister for Finance, Economic Growth, Job Creation, External Affairs and the Public Service, Honourable Allen Chastanet brought the legislation before the House of Assembly on Tuesday, explaining that this three year exemption will benefit 11,220 registered residential homeowners who will save $5.2 million annually.

Said Prime Minister Chastanet: “It means that the owner of a residential property will not pay land and house tax for the three mentioned years . . . The total impact of this three year exemption is that residential homeowners obtain a reprieve from current taxes and an opportunity to take advantage of the ongoing tax amnesty to settle their arrears with the Inland Revenue Department. In addition it provides the Property Tax Division an opportunity to further strengthen its administrative framework to enhance the administration of property taxes in Saint Lucia.”

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4 COMMENTS

  1. Where is the loss in revenue will be found to replace this tax relief? Chastanet is already borrowing $40m to finance the budget this means the country is broke. Yet still he is on another stupid thing. When will this idiot face reality?

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  2. Yeah right ! OK and you are making this lost of revenue where ??? Fool me once you can't fool me twice that is what you said about the VAT but you did what in return on items that did not carry VAT ? OK you "claim" you reduce vehicle license fee but you turn around and did what ? OK When they announced a reduction petrol what did they turn around and did with cooking gas and kerosene ? OK you fool me once you can't fool me twice

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