National

St. Lucia: Vat Amnesty On Building Materials

ST. LUCIA – St. Lucia’s Prime Minister Philip J. Pierre, has tabled a resolution in the parliament to provide economic relief to the public with the removal of VAT on select building materials.

Published

1 year ago

July 14, 2023

Megan Shepherd

ST. LUCIA – St. Lucia’s Prime Minister and Minister for Finance Philip J. Pierre, has tabled a resolution in the parliament to provide additional economic relief to the public and spur economic development by the removal of value-added tax on select building materials.

Pierre informed the parliament and the Saint Lucian public of the government’s intention to remove VAT on building materials during his budget address in April.

On July 11, 2023, the lower house expressed support for the prime minister’s resolution to suspend VAT charges, a reduction of 12.5% on current prices, on plywood, lumber, cement, steel, galvanise and solar pv systems from August 2, 2023, to August 1, 2025.