Inside Edge-Issue 76 | St. Lucia Chamber of Commerce Industry & Agriculture

Inside Edge-Issue 76

Newsletter Overview

Plan Your 2025 People Development Program

Welcome To Our Newest Board Members

The Chamber's Annual Report

Chamber Events

St. Lucia Chamber of Commerce Hosts Seminar on Employer's Annual Returns (TD4 & TD5 Forms) in Collaboration with IRD

Plan Your 2025 People Development Program

Welcome To Our Newest Board Members

The Chamber's Annual Report

Chamber Events

SLASPA and Chamber Meet to Take Stock of Progress on Sea Port Operations

Castries, Saint Lucia — December 10, 2024 —Further to the agreement to hold a meeting to take stock of the progress made on improving operations at the Castries Sea Port after discussions and agreements arrived at when the St. Lucia Chamber of Commerce, Industry & Agriculture and the Saint Lucia Air and Sea Ports Authority (SLASPA) met on November 7^th, the agreed Stock taking meeting was held on December 9th, 2024, at 2:30 PM.

The St. Lucia Chamber of Commerce as part of its engagement strategy has continued to work with members and the public sector agencies whom they interact with to find solutions to challenges confronted. This engagement with SLASPA is part of a longstanding and ongoing process.

SLASPA provided an update on the progress made to implement iniatives that would enhance ongoing port operations improvement initiatives as discussed at the previous meeting. The Monday meeting was attended by SLASPA’s leadership team, port stakeholders, representatives from customs and some thirty Chamber members focused on the critical actions aimed at improving efficiency, expanding service offerings, and addressing operational challenges.

Progress and Future Plans

SLASPA highlighted key advancements in its initiatives to improve port operations. The work to reopen Shed 7 work was described as 99% complete. Yet this matter of Shed 7 not yet being open remained a critical element meant that would positively impact speed of destuffing and delivery of non-commercial cargo. It was intimated by SLASPA that the Shed was expected to be open during the current week.

SLASPA also reported that the development of an automated destuffing application process was 50% complete, with plans for full implementation to commence by January 2025. SLASPA also advised that extended operating hours up to 11:00pm for normal container deliveries have been successfully introduced, addressing the growing demand for flexible service hours.

SLASPA is also working on the development of a portal to allow business owners to request delivery services online, this was to streamline business operations.

SLASPA also spoke to several challenges they were facing including traffic congestion at the port and general lack of space, thus SLASPA has restricted access to the port to prevent or minimize potential hazards. It was suggested that SLASPA coordinate with the Royal St. Lucia Police Force to strengthen the enforcement of their restrictions.

The team also discussed delays in the movement of goods, particularly during peak periods, and the impact these delays have on businesses. SLASPA emphasized the need for collaboration with stakeholders, including the St. Lucia Chamber of Commerce, to further discuss potential improvements to cargo delivery processes.

Next Steps and Action Items

The meeting outlined several key next steps for SLASPA:

Final walkthrough of Shed 7 with the Labor Department, CSE, and Customs, with approval for full commissioning expected shortly.
Opening of Shed 7 for public use after necessary approvals and destuffing are completed.
Media engagement during the week to announce the new extended operating hours for truckers.
Implementation of extended operating hours up to 8 PM on weekdays and Saturdays, based on operational needs.
Completion of the automated destuffing application process estimated by January 2025.
Receiving additional forklifts to augment SLASPA’s fleet in January 2025.
Collaboration with Customs to streamline cargo clearance processes.
Traffic management improvements in collaboration with the Royal Saint Lucia Police Force.
Repairs to Berth 4 will be completed by the end of 2025, with work scheduled during non-busy times to minimize disruption and boost productivity.

In response to concerns about the slow movement of goods at the Ports, the Chamber of Commerce has agreed to seek to convene a meeting, early in 2025 with merchants, Customs, the Port Authority, and other related agencies to discuss improvements in port operations and the role they all can play in that endeavor.

‍

St. Lucia Chamber of Commerce Hosts Seminar on Employer's Annual Returns (TD4 & TD5 Forms) in Collaboration with IRD

December 17, 2024-The St. Lucia Chamber of Commerce, in collaboration with the Inland Revenue Department (IRD), recently hosted a seminar focusing on Employer's Annual Returns (TD4 & TD5 Forms). The event aimed to enhance understanding and ensure compliance with the requirements for tax documentation for both employers and employees.

The seminar covered crucial topics such as the form submission process, required information, employee benefits, and the transition to an online system. Discussions also addressed contractor management, expense reporting, and the importance of maintaining accurate records for both employees and the company. Participants highlighted the need for streamlined processes to ensure tax compliance, as well as transparency in the reporting of employee benefits and allowances.

Next Steps for Employers:

Ensure all employees complete and submit their tax forms.
Submit completed forms to IRD by the specified deadline.
Provide employees with copies of their completed forms.
Maintain a copy of each employee's tax form for company records.
Accurately report allowances, benefits, and company-provided vehicles on tax forms.
Withhold tax on payments to contractors (10% for local, 25% for foreign).
Ensure proper reporting of service charges and housing benefits.
Provide departing employees with their completed tax forms.

Tessa Preville from the IRD led the discussions, highlighting the importance of accurate record-keeping and the shift toward an online system for submitting forms. She also explained the process for managing employee and contractor tax information, stressing the need for employers to be diligent in their reporting and documentation.

The Chamber of Commerce and IRD are committed to assisting employers in meeting tax obligations and ensuring smoother tax processes. The seminar also suggested further enhancements to streamline submissions and improve compliance, including the potential introduction of an online system to minimize errors and delays.

The collaboration between the St. Lucia Chamber of Commerce and IRD marks an important step in supporting businesses and ensuring they remain compliant with tax regulations.

St. Lucia Chamber of Commerce Hosts Seminar on Employer's Annual Returns (TD4 & TD5 Forms) in Collaboration with IRD

Tis The Season To Be Jolly ! / Public Holidays 2025