New legislation containing tax breaks aimed at expanding the territory's vital tourism sector will be introduced in the near future, Governor-General James Carlisle announced recently.
In his Throne Speech, Carlisle revealed that the government is drawing up a Tourism Development Corporation Amendment Act and a Civil Aviation bill.
The former of these two bills will grant duty free and income tax concessions to enterprises involved in new tourism projects, most notably the building of new hotels. This will allow interest to be deducted on construction loans for tax purposes.
The latter piece of legislation is designed to keep the country up to speed with international aviation safety standards, and will create a regulatory body that will ensure standards are consistently compiled with.
As well as announcing investment plans to expand and renovate the country's main V C Bird airport, Carlisle confirmed that an aggressive marketing campaign will continue in North America, Europe and the Caribbean.
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