The government says it’s approved the removal of General Consumption Tax, GCT, on a wide range of agricultural items.
Agriculture Minister, Karl Samuda, made the announcement in the House of Representatives this afternoon.
Minister Samuda also disclosed plans to attract investment and stimulate growth in the manufacturing sector.
The Agriculture Minister told the House that the removal of GCT on some agricultural items is part of an investment in the country’s farmers.
Mr. Samuda didn’t outline the agricultural items that will no longer attract GCT. But he says the list is extensive.
Mr. Samuda says Cabinet has given the go-ahead for the Special Consumption Tax on alcohol used in the manufacturing process to be abandoned.
He says the removal of some taxes is part of a push to attract investment in what he described as two of the most important sectors – agriculture and manufacturing.
Minister Samuda told parliament that despite the potential revenue loss, the tax cut initiative he announced today should augur well in the medium to long term.
Meanwhile, South St. James Member of Parliament and former Agriculture Minister, Derrick Kellier, described Minister Samuda’s statement to Parliament as inadequate.
South East St. Ann MP, Lisa Hanna, urged the government to be careful that its removal of the SCT from alcohol used in the manufacturing process will not benefit the masses.
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