JIS News

Story Highlights

  • Consumers could see lower prices for solar water heater parts and Light Emitting Diode (LED) bulbs, following the Government’s decision to remove the Customs duties on these items.
  • The House of Representatives, on September 17, approved the Customs Tariff (Revision) (Amendment) (No. 3) Resolution, to give effect to this decision.
  • Minister of Finance and Planning, Dr. the Hon. Peter Phillips, noted that the removal of duties is in keeping with amendments to the Customs Tariff Revision (Resolution) as part of the Omnibus Incentives legislation.

Consumers could see lower prices for solar water heater parts and Light Emitting Diode (LED) bulbs, following the Government’s decision to remove the Customs duties on these items.

The House of Representatives, on September 17, approved the Customs Tariff (Revision) (Amendment) (No. 3) Resolution, to give effect to this decision.

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, noted that the removal of duties is in keeping with amendments to the  Customs Tariff Revision (Resolution) as part of the Omnibus Incentives legislation.

“A five per cent duty was attached, which, in fact, would have raised the rates from zero to five (per cent). This amendment returns it to zero for LED bulbs  and for solar water heater  (parts), in keeping with the Government’s overall policy of encouraging energy conservation and the use of the most up-to-date and energy efficient technologies in this regard,” Dr. Phillips said.

Opposition Spokesperson on Finance, Audley Shaw, welcomed the decision to remove the tariff, and encouraged the Government “to devise a mechanism to ensure that those savings are passed on to the consumers.”