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00003-26-2010 ( Pdf ) At The Pumps This Weekend Maximum Price ULG per gal 25/03/10 DELTA $13.01 SHELL $12.42 Year 52 NO. 44BASSETERRE, ST. KITTS, W.I. FRIDAY, MARCH 26TH 2010 EC$2.00 TEXACO $11.42 “ We have to learn to do VAT to replace more with less,” says PM several taxes, public Douglas in Budget 2010 consultation begins in Lesroy W. Williams April, Prime Minister Basseterre (March 24, 2010)— Citing the global economic crisis Douglas announces in as the backdrop in the 2010 Budget Address, Prime Minister and Budget Address Minister of Finance, Hon. Dr. Denzil Douglas outlined a number BASSETERRE, ST. KITTS, MARCH 23RD 2010 (CUOPM) – St. of initiatives to control Kitts and Nevis has announced November 1st 2010 as the date for the expenditure, eliminate excesses introduction of Value Added Tax (VAT) in the twin-island Federation. and eradicate inefficiencies within Delivering the 2010 Budget Address in the National Assembly on the public sector as the Tuesday, Prime Minister and Minister of Finance, Hon. Dr. Denzil L. government moves forward to Douglas said there are too many indirect taxes at different rates that reduce the Public Sector Debt, make the system complex and it will replace several taxes. which stood at EC $2.54 billion at “The current tax system promotes cascading of taxes or double the end of December 2008 while it taxation of goods. The ECCU Tax Reform and Administration continues with the transitioning of Commission in fact recommended that all indirect taxes within the the economy from a sugar-based sub-region be replaced by a VAT. A VAT would streamline the tax to a services-oriented one. system by replacing the Consumption Tax, Hotel and Restaurant Tax, “Mr. Speaker, the budget I have Cable TV Tax, Traders Tax, Vehicle Rental Levy, Export and Rum Duty, presented here today is a budget Telecommunications Levy (IDD Calls) and Parcel Tax,” said Prime that is appropriate for the times. Minister Douglas. The entire global community is in He said that a Public Awareness and Education Campaign for the the midst of what is undoubtedly introduction of the VAT is scheduled to begin in April 2010, and that the most challenging times of this the matter will be taken to Parliament in May to introduce and enact century, during which policy the necessary legislation. makers all over the globe have had “This will be accompanied by the circulation of the White Paper to tackle economic problems that and several pamphlets, booklets and posters which the public and rival many of the major crises of potential taxable persons can refer to from time to time. There will also the last century in scope and be radio and television programmes as well as publications in the magnitude,” Prime Minister Dr. newspapers and the internet,” said Dr. Douglas. Douglas said. He said that a Tax Reform Team will conduct workshops and “Mr. Speaker, the current seminars targeted at specific interest groups, businesses and environment requires us to do individuals and will also be available to meet with members of the more with less,” he said. general public to answer any question and address any concern that The long anticipated 2010 they may have. Budget Address, which was “Potential VAT and Excise taxpayers will be identified and provided St. Kitts and Nevis Prime Minister and Minister of with application and registration forms. Registered businesses would delayed because of the January Finance, Hon. Dr. Denzil L. Douglas delivering the 2010 25th General Elections, and be required to adopt proper accounting standards for the collection presented on Tuesday, March 23, Budget Address in the National Assembly on Tuesday of VAT. The Tax Reform Team will design a series of advisory visits was leaner and trimmer than that 23rd March 2010. (Photo by Erasmus Williams) targeted at registered businesses to ensure that they understand their of 2009 presented by the then book keeping requirements and provide assistance to ensure that Minister of Finance, Dr. the Hon. Douglas said that the Government 2008,” he said. their operations are VAT compliant,” said the Prime Minister and Timothy Harris. was making significant progress in Dr. Douglas said that given the Minister of Finance. Admitting that “the road to reducing the public debt. volatile global economic climate, Dr. Douglas said that another important part of the process is the acceptable levels of debt is still “The Total Public Sector Debt the Eastern Caribbean Central passage of the relevant legislation and it is imperative that the long and arduous, and filled with expressed as a percentage of GDP Bank (ECCB) has recommended legislation be drafted and enacted several months before the many obstacles and risks,” Dr. fell by 17.8 percentage points from that all OECS countries approach introduction of the tax to allow for meaningful consultation on the Douglas said that debt reduction 182.8% in 2007 to 165.0% in 2008 the International Monetary Fund specific impact and operation of the VAT and facilitate timely must be a priority in this year’s while that of the Central registration of VAT taxpayers as well as effective dissemination of Government fell from 118.4% of budget and in budgets to come. (cont’d on page 3) However, Prime Minister Dr. GDP in 2007 to 106.8 % of GDP in (cont’d on page 3) PAGE 02 PAGE 20 COMMENTARY BY PAGE 23 Minister Phillip hails * THE THINKING CITIZEN * SOTTO VOCE Revised Edition of * VIEW POINT inspirational performance St. Christopher’s Laws * SOTTO VOCE * EARLE CLARKE launched of Verchilds High * EARL CLARKE * THE THINKING CITIZEN 2 - OPINION / LOCAL NEWS - The Labour Spokesman FRIDAY, MARCH 26TH 2010 Revised Edition of St. Christopher’s THE SPOKESMAN - ESTABLISHED MAY 1957 Laws launched Published by: The St. Kitts-Nevis Trades & Labour Union By Melissa Amsterdam Ag. Managing Director Editor: Dawud Byron New Revised Editions of the Masses House, Church Street Laws of St. Kitts and Nevis were P.O Box 239 . Basseterre . St. Kitts . West Indies launched at Government House (Springfield) on 23rd March, for Tel: (1 869) 465-2229 <> Fa: (1 869) 466-9866 the first time in over forty years. Email: [email protected] The Revised Editions which Website: www.labourspokesman.com are a compilation of 13 volumes of laws from the period 1961-2002 were unveiled and put on display for the perusal of the legal Editorial fraternity of the Federation, during the official launching ceremony. The undertaking of the project began in 2002 by the Legal Dr. Douglas charts new Department with the main purpose to update and consolidate the Governor General, His Excellency, Sir. Cuthbert Sebastian, enjoying financial Architecture laws of the Federation. the efforts of the Law Revision Commission, while thumbing through Mr. Serwano Mukasa, the Law one of the 13 volumes. Photos by: Willett’s Photo Studio for next ¼ Century for completed. Also contributing at the St. Kitts and Nevis launching ceremony to the success of the New Revised Dr. Douglas in an incisive two and a half hours presentation laid out Edition Laws were Charles Wilkins a new financial architecture for St. Kitts and Nevis. This is the fourth Q.C, President of the St. Kitts and time in the last thirty (30) years that fundamental changes had to be Nevis Bar Association; His made in the financial architecture of St. Kitts and Nevis and stringent Excellency and Minister of Justice corrective measures had to be made to steady the Ship of State and and Legal Affairs, Delano Bart place the country on a steady path to progress and development. Q.C; and Hon. Patrice Nisbett, In 1980 after the change of government from the St. Kitts-Nevis Attorney General. Labour Party to the People’s Action Movement (PAM) a new financial Messages were relayed for Dr. architecture was put in place, elements of which are with us today. Dennis Merchant, General One of the next fundamental decisions then was the abolition of Counsel and His Lordship the Personal Income Taxes and the replacement of revenue lost by taxes on Hon. Hugh Rawlins, Chief Justice goods and services, in particular the increase in Customs Duties and of the Easter Caribbean Supreme Consumption Tax and the advent of Traders Tax and Social Services Prime Minister Douglas, taking at look at the thirteen volumes of the Court who were regrettably Levy. This was a fundamental change in the financial architecture of St. revised laws that were unveiled at Government House on Tuesday unable to attend the event. They Kitts and Nevis. 23rd. both echoed their pleasure at During the period 1990-1993 there was a similar significant hiatus in having the Federation’s laws national development where in spite of the construction of the Four Revision Commissioner appointed the laws will be filed electronically revised. Seasons’ Hotel in Nevis and the construction of the South East Peninsula by His Excellency Delano Bart QC, in a data base. Mr. Wilkins’ brief remarks Road, the economy, especially of St. Kitts experienced significant slow- outlined the journey and efforts it “To Dr. Dennis Merchant I included his pleasure at having down of economic activity and there was extreme hopelessness in the took to assume the immense extend my appreciation and seen the fruition of the revised society. project. gratitude. He like his predecessor laws. That was the period where there was not a single international air He labeled the task as a long – Delano Bart QC – gave me all the He said that “it is a welcome carrier – no BWIA, no PANAM, no American Airlines. and arduous one in which a necessary support that I needed to relief to all legal practioners and In the first period after 1980, the country benefitted from the significant amount of time, energy ensure that the preparation of the fills a yearning gap in the legal completion of the Deep water Harbour at Bird Rock and the expansion of and expertise was put into.
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