Changes have been made to the Customs Tariff Regime, which will enable ground transportation operators in the tourism sector to diversify, upgrade and replenish their fleets.
This was disclosed by Tourism Minister, Hon. Edmund Bartlett, while opening the 2017/18 Sectoral Debate in the House of Representatives yesterday (April 4).
The new framework will see an increase in the upper cost, insurance and freight (CIF) value on motor cars for rental and contract carriage operators to US$41,000, with full duties payable on the first dollar in excess of this amount.
Mr. Bartlett said the current cubic centimetre (cc) rate restrictions on these operators will remain unchanged.
Additionally, he said the new Productive Relief Inputs facility will see an increase in the upper CIF value allowed for motor cars to US$50,000.
The Minister said other benefits of this facility for tour operators include the removal of the cc rate restrictions on imported cars and an increase of 20 additional cars.
“These are game-changing arrangements that we have brought in to ensure that the capacity for us to deliver and produce is at the highest level,” Mr. Bartlett stated.