While listening to one of the many call-in shows on the airwaves of St. Kitts-Nevis, a caller lamented that “we don’t seem to be getting the best returns from a particular development in the South-East of the island”. To this the host asked, “but have we anything invested in the project?”
To give some background, the developers acquired the land from multiple private land owners and thus to some extent it is a “private” project. But guess what? The developers are benefiting from a generous Duty/Tax free exemption and no doubt such a lengthy tax free holiday that even my grandchildren won’t see any payment of corporation tax.
So given that the treasury and therefore the people of St. Kitts-Nevis will not benefit from the much needed tax revenue, my question is are we really non-investors in the project?