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9/11/2008 
FINANCE MINISTRY SEEKS FEEDBACK ON PROPOSED DUTY-FREE ...  
Guidelines for the Duty-Free Barrels Initiative 1. Household Limit: Each household in Grenada will be entitled to a maximum of two (2) duty-free barrels during the implementation period. Boxes, crates and cartons of equivalent size to a regular barrel will also be eligible. 2. Definition of Household: For this initiative, a household would be a family (nuclear or extended) living together. At the time of application, the person clearing the barrel will be required to complete a form giving information about name, number of persons in his or her household and other relevant information. A piece of photo identification will also be required. Furthermore, persons will have to sign a declaration that the information is correct. Persons who give false information will be subject to fine and prosecution under the Customs Act. 3. Composition of the Barrels:It is customary for Grenadians to import what Customs calls “foodstuff barrels”. As the name suggest, these barrels primarily contain foodstuff. However, it is not unusual for them to have articles of clothing, toiletries and toys. The Customs Department will use the same rule to process barrels under this initiative. The exemption will not apply to appliances and electronics. If these are found in the barrels, the regular duties and taxes will be assessed. Customs reserves the right to examine each barrel and determine if it for household or commercial use. For example, a barrel that has more clothes than food will be assessed as a clothing barrel or even a barrel for commercial purposes depending on its composition. 4. Exemption: Government will exempt all customs duties and taxes, customs service charge and stamp duty on eligible barrels.In short, all government taxes and charges will be removed. However, Recipients of barrels will be required to pay charges assessed by private warehouses and the Grenada Ports Authority. 5. Revenue Loss: The revenue forgone by Government will depend on the number of households which take advantage of this special one-time offer. If we assume, 50% of all households take advantage of this offer and import two (2) barrels, Government will lose approximately EC$2.6 million dollars. 6. Consultation Before Implementation: This Government is committed to a process of ongoing consultation with the People. For this initiative, Government invites the public to provide feedback on the proposed guidelines over the next 14 days ending September 21, 2008. In this regard, we seek the support of the media to publish these guidelines. Feedback from the public can be sent to email address: finance@gov.gd; persons may call 473-435-0057 or send a note addressed to the Corporate Communications Officer, Ministry of Finance. 7. Implementation Period: The programme will commence on October 01, 2008 and end on December 31, 2008. This means foodstuff barrels arriving in Grenada on or after October 01, 2008 and on or before December 31, 2008 will be eligible for duty and tax concessions up to a maximum of two per household. Source: Ministry of Finanace, Planning, Economy, Energy, Foreign Trade & Cooperatives
 

 


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FINANCE MINISTRY SEEKS FEEDBACK ON PROPOSED DUTY-FREE ...