JIS News

Prime Minister the Hon. Bruce Golding on Wednesday night (December 23) announced a revised tax package which seeks to minimise, as much as possible, the impact on poor families.
The new package ensures that basic food items, sanitary napkins, disposable diapers, orthopedic apparatus including wheelchairs, white canes for the blind and other aids for the disabled, sports equipment, furnishing for churches, animal feeds, fishing gear and construction services remain exempted from General Consumption Tax (GCT). Funeral expenses up to $100,000 will also be GCT exempt.
Mr. Golding said that the original package was revised by the Cabinet on the recommendation of the Minister of Finance and the Public Service, Hon. Audley Shaw; resulting in the following changes:
Increase of GCT rate from 16.5% to 17.5% – $3.6B15% Ad valorem tax on petroleum – $9.4BSCT increase on cigarettes – $1.4BRevised 10% GCT on tourism-related services – $1.2BGCT on residential electricity customers – $711 MNet GCT on commercial and industrial electricity customers – $742 M Net Advanced GCT Payment on imports – $2.9BAdditional Income Tax on incomes exceeding $5M and $10M – $1.317BIncrease in Motor Vehicle Licences for top-endVehicles & additional tax on specified luxury items – $542 MTOTAL – $21.812 B
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