The Authorities of Grenada has unveiled the primary part of fiscal incentives to help the residents of Grenada, Carriacou, and Petite Martinique, who had been considerably impacted by Hurricane Beryl.
As a part of these new measures, the federal government will provide 100% responsibility and tax exemptions on a spread of important objects imported into the state. This consists of exemptions from Customs Service Cost, Port Prices, and Stamp Duties on meals, clothes, small family home equipment, linen and bedding, toiletries, sanitary merchandise for each adults and kids, and family cleansing provides. These exemptions apply to objects imported in containers, barrels, and crates, collectively known as “Barrels.”
To qualify for these exemptions, the imported objects should not be for industrial use or resale and are restricted to 2 barrels per family. The “free barrel” program will probably be in impact for barrels cleared between July 22, 2024, and December 31, 2024.
Whereas the executive course of for clearing barrels stays unchanged, importers is not going to be required to pay the standard duties, taxes, and costs. Nevertheless, objects will nonetheless be assessed by a Customs Officer, and importers should present invoices and different documentation. Moreover, importers should current one of many following types of identification: Driver’s License, Passport, Voter’s Registration card, or NIS card.
The responsibility and tax exemptions are strictly restricted to 2 barrels per family. Any imports exceeding this restrict will probably be topic to the usual duties and taxes.
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Importers are reminded that making false declarations to Customs is a severe offense and will lead to fines and penalties.
