Basseterre offers Tax-Free Stimulus Package for Stand Alone Restaurants of SKN
The Denzil Douglas Cabinet approved a stimulus package for ?Full Service-Stand Alone Restaurants.? For a period of 12 months qualifying restaurants will be granted permission to import food and wine duty free. Duty free means the import duty and consumption tax will be waived and a 12% Customs Service Charge will become payable on the said items. During this period qualifying restaurants will also be allowed a one time duty free concession on cutlery, plates, glasses, furniture, kitchen appliances and equipment.
Along with meeting the criteria of a ?Full Service-Stand Alone Restaurant,? each qualifying business will be required to submit a monthly Statistics form that records employment figures and the quantity of local produce purchased by the restaurant.
Kittitian restaurants that participate in this program are expected to maintain their obligations to the Inland Revenue Department and Social Security or risk losing concessions until they are in good standing with these institutions.
Criteria for Full Service-Stand Alone Restaurants Stimulus Package:
- Has a valid business license
- Pays the 9% Restaurant Tax
- Must be in good standing with Social Security contributions
- Must be in good standing with the Inland Revenue Department
- All employees have a Food Handlers License
- 75% of the workforce must be local
- Full service of food, drinks and wine to the table
- Tables laid ready for customers
- Has a wine list
- Accepts credit cards
- Kitchen is housed in a solid and proper building
- Has its own bathroom facilities
- Has a facility for the proper disposal of garbage
- Must be willing to accept local students on job training attachments
- Helps to Market the destinationThis stimulus package is designed to assist Full Service Stand Alone Restaurants during the current global economic downturn. These establishments are heavily dependent on tourism and provide a number of employment opportunities for locals. The objective of the 12 month relief period is to assist these businesses to keep staff employed and give them an opportunity to upgrade their facility.