INLAND REVENUE CHANGES TAX STRUCTURE ON LICENCING OF VEHICLES

Basseterre, St. Kitts, November 11, 2019 (RSCNPF): The Inland Revenue Department (IRD) has updated the way the tax is applied for licencing new vehicles.

Senior Tax Inspector at the IRD, Oleah Prentice, spoke about the changes on a recent edition of “Traffic Talk” where she was a special guest. She joined Inspector Phillip Eddy and Officer Donaly Liburd-Chiverton who are the regular hosts of the programme. Persons will now be charged the licensing fee per month.

“Previously, the department was issuing the tax based on a quarterly basis for new registrations for licensing purposes. However, that was changed to monthly,” she explained.

She noted that this change took effect on November 04, 2019. She further noted that this new tax structure will make the tax rate cheaper for new registrants and highlighted that the annual fee will remain the same.

Ms. Prentice also advised persons of the necessary documents needed when registering their vehicles.

“When registering a vehicle, if you are just registering, all you need is the registration document and identification. If you are licensing, you require your inspection and your insurance. We have seen persons just come in with the registration and insurance without their inspection so they have to go back and get the inspection,” Ms. Prentice said.

She explained that for transfers, proof of insurance is also needed except in the case where persons would have notified the Traffic Department that the car will not be on the road and granted a waiver.

“We are asking the motorist to be mindful of this when you are doing a transfer. We require your transfer document from traffic, your insurance and if you are a new tax payer to the department, you will need identification,” said Ms. Prentice.

Persons are also asked to note that a vehicle must be registered with the Traffic Department before it can be licensed with the Inland Revenue Department.

Share via:
  •  
  •  
  •  
  •  
  •