The VAT amnesty on imported medical equipment will incentivize medical practitioners to procure radiological and clinical equipment needed for vital medical exams such as CT scans, MRIs, ultrasounds and mammograms.
Local doctors can expand their offerings to their clients at more affordable rates avoiding Saint Lucians costly travel expenses to overseas countries. Increased availability of these medical exams at lower costs will save Saint Lucians money and improve the health of the nation.
· VAT amnesty on select building materials [August 2, 2023 – August 1, 2025]
Home remodelling and renovation projects will be more affordable for the average Saint Lucian. Contractors will also benefit from the reduced cost of building materials for medium to larger construction projects. Consumers will benefit from a 12.5% reduction in the cost of building materials as a direct result of Prime Minister Pierre’s VAT amnesty.
· Amnesty on VAT arrears [August 2, 2023 – August 1, 2024]
The Tax Amnesty on VAT arrears offers companies, business owners, employees, and property owners the opportunity to settle their tax arrears with a 100% waiver on penalties, interest, and collection fees up to financial year 2021. More than $200 million in outstanding VAT arrears, which includes penalties and fines, can potentially be redirected back into the economy.
