Grenada Relaxes Import Taxes On Reconstruction Materials

by Amanda Banks, Tax-News.com, London

02 November 2004

In a bid to aid the country’s social and economic reconstruction in the aftermath of Hurricane Ivan, the government of Grenada is waiving import taxes and duties on certain materials until the end of the year.

According to a government announcement made on Friday, tax and duty-free status has been granted with immediate effect on the following items:

• Residential: all building materials (with the exception of carpets and paints) necessary to repair damaged houses.
• Hotel/Hospitality: all building materials, furniture, fixtures, and office supplies, needed for replacement of damaged items, or to upgrade existing facilities. (Items of food and beverages not included.)
• Industry/Manufacturing: all items of building materials, furniture, machinery and fixtures, and raw materials, needed to replace damaged items, or for upgrading existing facilities.
• Agriculture: all agricultural implements, tools and other inputs, to include irrigation equipment, storage tanks, fertilizers, etc. (Heavy equipment such as tractors will require separate concessions).
• Vehicles: doors, windscreens, grills, mirrors.

A 2.5% Customs Service Charge will be levied on all items listed above, except for agricultural imports, on which no Customs Service Charge is levied.

All items that do not qualify are subject to the normal Customs Service Charge of 5%.

The concession will remain in place until 31st December, 2004.

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