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Government to rationalize tariff and excise rates

Prime Minister Perry Christie laid out measures to address tariff and excise issues during the Budget Communication to Parliament last week. 

Source:
Date:
Updated:
TheBahamasInvestor.com
Tuesday, June 5, 2012
Tuesday, June 5, 2012

The government is introducing a number of measures to further rationalize tariff and excise rates, Prime Minister Perry Christie said during his presentation of the 2012/2013 Budget Communication in Parliament last week.

The Prime Minister added that the government also wants to encourage energy efficiency and provide relief to consumers.


The government is reducing the tariff rate on solar generators, wind-powered and “other” generators from 45 per cent to 10 per cent to align it with the rate on other types of generators and other solar equipment.

The tariff rates on plastic and steel doors are being reduced from 35 per cent and 25 per cent, respectively, to 10 per cent to align them with the rate on wood and aluminium doors.

The tariff rate on body lotion is being reduced from 45 per cent to 25 per cent to align it with the rate on other hygiene products.

Toothbrush tariff rate is being reduced from 45 per cent to “free” to align it with the rate on toothpaste.

The tariff rate on ECG and EKG machines is being reduced from 35 per cent to “free” to align it with the rate on kidney machines.

The tariff rate on filters for kidney machines is being reduced from 45 per cent to “free” to align it with the rate on kidney machines and other parts.

Air conditioner parts tariff rate is being reduced from 45 per cent to 40 per cent to align it with the rate on air conditioner units.

The tariff rate on animal food is being reduced from 35 per cent to “free” to align it with the rate on pet food.

The Prime Minister also noted that the Tariff and Excise Acts are being amended to create new headings for certain products as follows:
Biodiesel at 45 per cent;
Baby pacifiers from 45 per cent to “free;” and
Breast pumps from 45 per cent to “free.”

The Tariff Act is also being amended to incorporate a number of tariff headings that were inadvertently omitted from the 2008 Tariff.

The 15th Model United Nations Sessions (MUNS) was held last month at the Wyndham Crystal Palace, Cable Beach, with the first place students winning a trip to New York in September. See the photos after the jump.

Earlston McPhee, director of sustainable tourism in the Ministry of Tourism, says that there has been renewed interest in fly fishing in the tourism sector. Watch an interview with McPhee here.

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