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Estimates of Revenue & Expenditure for the Year 2024
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National Economic and Social Development Plan
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Debt Portfolio Review 2020
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General Administration

Departments

Statutory Bodies

  • Broad based: This means that the VAT is charged on a wide range of goods and services in SVG.
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  • Multi-Stage: VAT is charged and collected at all levels in the economy (i.e. from production to the final consumer).
  • Transaction Tax: VAT is charged on every supply of goods and services including:-
    1. Business to business
    2. Business to consumers and
    3. Transactions with the government
  • Consumption Tax: VAT is expected to be passed on the consumers in the price of goods and services they consume.
  • Domestic Consumption: VAT is charged on the value of imports, but VAT is not charged on value of exports.

Persons who have businesses that are currently making gross sales of $120,000 per year or $10,000 per month are required to register for VAT according to the Value Added Tax Act of Saint Vincent and the Grenadines.   This requirement is a mandatory one for all businesses and service providers who would meet the threshold.   Persons who are required to register includes sole traders, partnerships, companies, unincorporated entities and service providers such as Lawyers, Accountants, Contractors, Plumbers and Hairdressers, to name a few.

Registered persons therefore have the responsibility to charge and collect VAT, and thus act as agents for the government.   Registered taxpayers have no later than fifteen (15) calendar days after the tax period (which is one month) to file their VAT return.  For example, Return for the month of May 2007, would be due on June 15th 2007.

The law requires, that in respect of each year, every individual who:

  1. Is liable to pay tax or
  2. perates a business or
  3. Earns more than fourteen thousand dollars (14,000.00) per year from employment or
  4. Earns less than fourteen thousand dollars (14,000.00) per year from employment, but earns additional income in Excess of five hundred dollars ($500.00) per year from sources other than the main employment must, by 31st March  of the following year.

Give accurate information to the Inland Revenue Department at all times. Remember to bring your ID as it maybe required

  • A person must be 17 years old to own or drive a motor vehicle
  • If you are thinking of driving someone’s vehicle it is your responsibility to ensure that it is licensed. You may be charged for driving an unlicensed vehicle
  • If your motor vehicle has been:
    1. Destroyed
    2. Rendered permanently unserviceable
    3. Permanently removed from SVG

You should immediately turn in the number plates to the police

Minister

Hon. Camillo Gonsalves

Contact Information

Director General Finance & Planning
Mr. Edmond Jackson
Telephone:(784) 457-1343
(784) 456-1111 Ext: 3507
Fax: (784) 457-2943
E-mail: office.finance@gov.vc