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Preparing For VAT Implementation

 

The introduction of VAT and its implementation within your business could have a wide-ranging effect. VAT is not simply a tax issue - it is a business issue. It affects some of your business functions and can impact financials, including cash flow.

The challenge is to identify and address all business issues during the VAT implementation process and minimize, to the extent possible, any disruption to your business. It is critical to be compliant with the VAT Law and Regulations.

A structured and strategic approach ensures an efficient implementation, which takes into account your specific business issues while ensuring ongoing compliance with VAT legislation All businesses and service providers that are required to register for VAT should urgently begin to put the necessary internal systems and procedures in place to account for VAT.

Business persons who have an integral role to play should intensify their pre-implementation procedures, and begin to put the necessary systems in place to position their businesses to be VAT-ready.

 

AdobeReader.pngPreparing for VAT Implementation.pdf

 

Customs Notice

No. 7 of 2012

Value Added Tax Transitional Provisions – Bonded Warehouse Facilities

The Government of Saint Lucia has proposed the use of the bonded warehouse facility under the supervision of the Customs & Excise Department (CED) to minimize on the incidence of double taxation on imported goods, and to smooth the transition phase of the implementation of the VAT on October 1, 2012.

Bonded Warehouse under VAT Transitional Provisions.pdf

Application for Approval of a Bonded Warehouse under VAT Transitional Provisions.pdf

Application for Approval of a Customs Bond C47.pdf

Application for Approval of a Customs Bond C58.pdf

The VAT Implementation Project Office announced today that the process has been finalized for Importers wishing to utilize the three months free storage at the sea ports. The Facility is available only to businesses who meet the threshold for Value Added Tax ($180,000 taxable sales).

IMPORTERS CAN APPLY FOR FREE STORAGE FACILITY.pdf

Free storage certificate 2012.pdf

 

Contact Us

St. Lucia Inland Revenue Department
VAT Section
Manoel Street
Castries
St. Lucia, W.I.

Tel: (758) 468 2800
Fax: (758) 452 4984
Email:
vatcoordinator@vat.gov.lc
vatinfo@vat.gov.lc

Useful Links

Inland Revenue Department  www.irdstlucia.gov.lc

 

Government of Saint Lucia  www.stlucia.gov.lc

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