| Changes expected soon from TCIG | | Print | |
| Friday, 19 February 2010 12:26 | |||
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The Ministry of Finance in conjunction with the Customs Department is undergoing a comprehensive review of the customs tariff, which was passed in 1991. With only a few exceptions, such as rates of duty for alcohol and tobacco and reductions for steel and computers, customs tariffs have remained relatively unchanged. The review will bring rules in line with international standards and revise certain duty tax rates and exemptions to reduce economic hardship and stimulate economic growth, the ministry said. The Customs Department is requesting the business community and the public to communicate observations, comments or suggestions to the collector of customs at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . All contributions will be treated in confidence. At its last meeting Feb. 10, the governor’s Advisory Council approved recommendations to reform the current stamp duty on property transactions. The government said it will soon announce more information on those recommendations. The Advisory Council also was briefed on a draft of study to improve government revenues. The draft is expected to be published soon for wider public consultation.
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