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Changing Or Cancelling Your VAT Registration

Closing Or Selling A Business

 

If you are closing or plan to sell your business as a going concern, you are required to apply for the cancellation of your VAT registration within 3 days of the date on which you will cease operations. You must complete the Change of Registration Details or Cancellation of Registration form and return it to IRD. However, your cancellation will only take effect after the Comptroller of the Inland Revenue Department is satisfied that you:

(1)  Are not carrying on a taxable activity; or

(2)  Was not required or entitled to apply for registration

 

Cancellation of registration through sale of going concern;

Person expecting to sell a going concern must notify the Comptroller at least three  

calendar days before sales closes.

 

The purchaser acquires a legal interest in the assets to be acquired or the asset of the going concern is transferred, whichever occurs first.

 

The seller must apply for cancellation of their registration if the seller, as a result of the sale of a going concern, ceases to engage in taxable activity.

 

The seller must state whether or not he or she intends to make taxable transactions within twelve (12) months from the date stated on his application for cancellation.

 

The Comptroller can initiate a cancellation without any application unless the Comptroller has reasonable grounds

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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