Name of the Organization : Saint Lucia Inland Revenue Department
Type of Facility : VAT Registration
Country : Saint Lucia
Website : http://irdstlucia.gov.lc/
Download Forms : http://irdstlucia.gov.lc/
VAT Registration :
Value Added Tax or VAT as it is commonly known is an indirect tax charged on taxable imports and the added value to taxable goods and services, supplied to one business to another or to a final consumer.
Related : Inland Revenue Department Return Filing Saint Lucia : www.statusin.org/7691.html
VAT is designed to ensure that most forms of consumer spending are taxed evenly and fairly.
VAT is not a tax on the seller for it is the buyer who pays the tax.
VAT is not an additional tax but it will replace the following taxes:
** Consumption Tax
** Environmental Protection Levy
** Motor Vehicle Rental Fee
** Mobile Cellular Telephone Tax
** Hotel Accommodation Tax
With the implementation of the Value Added Tax (VAT), a threshold has been set at which persons must be registered as VAT taxpayers. This guide provides information on who should be registered for VAT, who can register voluntarily, and why you will benefit from voluntary registration.
It also explains:
** the circumstances in which you must register
** the circumstances in which you cannot register
** the circumstances in which you do not need to register
Who should register:
If you conduct a taxable activity that involves the supply of goods or services, you are required to register to charge VAT if you meet the registration threshold.
A “taxable activity” is defined under Section 6 of the VAT Act “as an activity which is carried on continuously or regularly by any person in Saint Lucia or partly in Saint Lucia, whether or not for profit, that involves or intends to involve, in whole or in part, the supply of taxable goods or services to another person for consideration.”
In other words if you are in the business of supplying or selling taxable goods and/or services, you are undertaking a taxable activity.
A. Businesses trading in taxable supplies must within ten working days (10) register with the Inland Revenue Department (IRD) if their taxable supplies or sales (goods and services):
** meet or exceed the threshold of $180,000 in the previous twelve months or less; or
** is reasonably expected to meet or exceed the threshold at the beginning of any period of three hundred and sixty five days (365).
** Additionally, businesses must register if in the first three months of trading their taxable supplies exceed Forty five thousand dollars ($45,000.)
B. Promoters of public entertainment, licenses and proprietors of a place of public entertainment must within 48 hours of the event, if with a period of twelve or fewer months their annual taxable supplies is reasonably expected to exceed $180,000.00.
C. A person who is an auctioneer is required to apply for registration on the date the person becomes an auctioneer
How To Register:
If you conduct a taxable activity that involves the supply of goods or services and you meet the registration threshold of $180,000.00, in any period of 12 months you are required to register to charge VAT
You must apply for registration within ten (10) working days after the day on which you are required to be registered.
What do I need in order to register for VAT?:
To register, an Application for Registration Form VAT 001 and 001b needs to be filled out. This form can be obtained from the VAT Section located on Manoel Street or from any Inland Revenue Department Office and can be downloaded from our website, www.vat.gov.lc.
The completed form(s), with any extra information asked should be sent to the VAT Section or any Inland Revenue Office (Castries, Vieux Fort and Soufriere). The Application for Registration form should be sent in promptly as failure to notify the Department of eligibility for registration may result in the payment of a penalty equal to double the amount output tax payable from the time you were required to apply for registration until you file an application with the Comptroller.
Contact Us:
St. Lucia Inland Revenue Department
VAT Section
Manoel Street
Castries
St. Lucia, W.I.
Tel: (758) 468 2800
Fax: (758) 452 4984