Saint Lucia Government Announces $20 Million Payout in Historic Tax Refund Initiative

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St. Lucia Pitons

The Government of Saint Lucia (GOSL) has announced a significant payout of $20 million in outstanding tax refunds, marking a historic move in the country’s financial management. This allocation, already designated to the Inland Revenue Department (IRD), is scheduled for distribution in two phases: $10 million in December and the remaining $10 million between January and March 2024.

This initiative forms part of a larger financial strategy, as the Prime Minister’s office highlighted that, for the first time in Saint Lucia’s history, nearly $40 million in tax refunds will be disbursed in a single fiscal year (2023/24). This follows the disbursement of $30 million in tax refunds from July 2021 to December 2023.

Prime Minister Pierre and the Saint Lucian government are committed to expediting the tax refund process, ensuring timely returns for taxpayers. This effort is anticipated to benefit hundreds or thousands of Saint Lucians, particularly with the timing of the first disbursement aimed to coincide with the Christmas season.

While addressing challenges in the refund process, the IRD has outlined its commitment to efficient service delivery. Taxpayers are assured of receiving their notice of assessment and refund cheque or direct bank deposit in a reasonable timeframe, barring any issues with their returns. Additionally, the IRD’s website provides detailed information on the refund process, including conditions for refunds as offsets against outstanding debts and provisions for emergency refund requests in cases of educational expenses, medical emergencies, or permanent emigration.

This move by the Government of Saint Lucia signifies a strong commitment to fiscal responsibility and taxpayer service, reflecting a positive step towards financial transparency and efficiency in the country.

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