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TCI To Cut Duty For Building Materials

by Mike Godfrey, Tax-News.com, New York

20 August 2013

The Turks and Caicos Islands (TCI) Cabinet agreed with a proposal from the Finance Minister to reduce the duty on insurance and freight charges to 5 percent for building materials.

The reduction specifically applies to blocks, steel, sand, cement and aggregate.

The Cabinet considered this move necessary and expedient given the bulky nature of the items relative to their value and the importance of the construction sector, which is expected to contribute significantly to the expansion of the TCI economy from 2013 to 2014 and beyond.

TAGS: Finance | tax | insurance | Turks and Caicos Islands | construction

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