Duty concessions on building materials, furniture, fixtures and appliances instated following Hurricane Ivan to aid recovery will end 31 October 2005 the Cabinet has decided.
The duty concession for office equipment and office furniture ended last Friday.
Financial Secretary Kenneth Jefferson said that although the deadline for building materials, furniture, fixtures and appliances was postponed for a month, there will not be any further extensions to the 31 October deadline.
‘We have had a very positive response to the duty concessions and believe that the measure has served its purpose in helping residents absorb the cost of repairing homes and businesses after the devastation of Hurricane Ivan.
‘Government has had to balance the noble act of helping the public, via the concessions, against the reduction-impact such help has on Government’s revenues,’ Mr. Jefferson said.
Apart from duty concessions on building materials and other replacement articles, Government also allowed a 10 per cent import duty reduction rate on vehicles imported to replace ones that were destroyed by Hurricane Ivan. That duty concession ended 30 June 2005.
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