Customs duty dropped for renewable energy items
A Bill that will reduce to customs duty to zero for renewable energy goods has been tabled in the House of Assembly.
The Customs Tariff Amendment Act 2009 which will provide a zero-rate of duty for goods that facilitate the sustainable production and use of renewable energy from natural resources was tabled on Wednesday.
Minister of Finance, Paula Cox said: "In the national Budget statement 2009/10, Government indicated that its main objective in these difficult economic times is to facilitate and stimulate economic activity and that there would be no increases in major tax rates.
"Indeed the Bill introduces no duty rate increases. On the contrary, the Bill proposes to reduce duty rates and to provide new or expanded duty reliefs."
As well as renewable energy goods, import duty relief measures include:
• New end-use relief for fire safety equipment and for humanitarian aid
• The expansion of the scope of existing end-use reliefs for airport equipment, goods for sewage systems, fire engines and fire fighting equipment, musical organs, and medical appliances and equipment designed to compensate for physical disability
• A recasting of the existing import duty relief for commercial tour boats.