St Lucia VAT 2016 proposals

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