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Claiming VAT On Your Purchases

Going Concern Criteria


Instead of starting up a new business, you might buy a business that someone else has already in operation. This is known as taking over a business as a going-concern.

Where the transfer of a taxable activity (or a portion of a taxable activity capable of separate operation) as a going concern, is sold or transferred. The sale or transfer would be deemed as a supply of goods.


The transfer maybe zero rated under the First Schedule once all conditions are met.


Where the buyer uses some of the acquired assets for purposes other than making taxable supplies the buyer is treated as making a taxable supply on acquisition of the going concern to the extent that the buyer uses the goods or services acquired for purposes other than to make taxable supplies. The taxable supply by the buyer occurs when the supply of the going concern of the act occurs.

Contact Us

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

Tel: (758) 468 2800
Fax: (758) 452 4984

Useful Links

Inland Revenue Department


Government of Saint Lucia

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