Berkeley Clock, The Circus, St. Kitts
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A Drop in Turnover

When your annual VAT taxable turnover falls, or you expect it to fall in the next 12 months, below the registration threshold, you can only apply to IRD to cancel your VAT registration after the expiration of two years from the date registration took effect.

If you want to do this, you must write to IRD to explain the drop in your turnover. Possible reasons might include a reduction in opening times, loss of contracts or changes in your business practices. You'll have to give IRD your anticipated turnover for the next year.

You won't be allowed to cancel your registration if the reduction in your turnover is due to your intention to stop trading or suspend making taxable supplies for 30 days or more in the next 12 months.

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Contact Us

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The Tax Reform Unit (St. Kitts)
Inland Revenue Department
3rd Floor E.C. Daniel Building
Cayon Street
Basseterre
St. Kitts

Tel: (869) 467-1931
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

The Tax Reform Unit (Nevis)
Inland Revenue Department
Main Street
Charlestown
Nevis

Tel: (869) 469-5521 ext. 2221
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

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