St Lucia VAT 2016 proposals
- 07 June 2015 | Richard Asquith
The 2015/16 St Lucia budget was presented earlier this month. It included a range of VAT changes, including:
- A range of goods are to be made VAT exempt, including: the provision of services to the State without consideration or money or other conditions; and imports of replacement goods for faults.
- The VAT registration threshold is to be raised from XCD180,000 to XCD400,000 per annum
- Switch to automatic refunds for input VAT suffered for the provision of zero-rated taxable supplies
- Postponement on VAT for the importation of large capital equipment, with the use of the reverse charge
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.