Photo by: jamaicalandwelove.com
The government will be moving to create a structured market for the second sale of motor vehicles.
Finance Minister, Dr. Nigel Clarke, says under the plan, those selling a motor vehicle in this new ‘second sale’ market will only pay GCT on the difference between the price at which they originally bought the vehicle and the price at which they are selling the vehicle.
Speaking during his opening presentation in the budget debate on Tuesday, Minister Clarke says this move will boost economic activity.
Dr. Nigel Clarke, Minister of Finance and the Public Service.
