VAT 

Value Added Tax Act 23/2009

Value Added Tax (VAT) – Act 23 of 2009 - is a broad-based tax on the consumption of goods and services in Grenada, by providing for the imposition and collection of a value added tax, and for related matters.

Registration

Businesses with annual taxable supplies more than $300,000.00 are required to register for the VAT.

A person, who is a promoter of public entertainment, or a licensee or proprietor of a place of public entertainment, is required to be registered whether the person exceeds the registration threshold.

GovernmentEntities & Investors: A Person who conducts more than one taxable activity, or who conducts one or more taxable activities through branches or divisions, must be registered in the name of the person and not in the names of the activities, branches, or divisions.

Who Pays the Tax: Thistax is inclusive in the price of goods and services therefore the tax is paid by consumers.

Can anyone charge VAT?

No. Only businesses that are registered for VAT with the Inland Revenue Division and display an original VAT registration certificate in a prominent position of the business.

VAT/Tax Numbers

The Comptroller shall issue every registered person with a unique taxpayer identification number with additional digits for VAT purposes, to the number used to identify the registered person for the purposes of income tax or other taxes administered by the comptroller.

Forms & Notices

Forms, notices, returns, and other documents prescribed or published by the Comptroller for the purposes of the Act, may be in such form as the Comptroller determines for the efficient administration of the Act, and is valid whether published in the Gazette.