July 24, 2014
THE government tabled the anticipated value added tax (VAT) bill in the House of Assembly yesterday while releasing a list of proposed changes to tariff and excise duty rates and disclosing a “pared down” list of VAT exempt services that does not include electricity.
Beginning January 1, 2015, proposed decreases in duty rates for numerous items will come into effect. Items like watches, suitcases and articles of jewellery will be duty free while various items ranging from food to clothing items would see duty reductions ranging from five to 25 per cent...
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