Committee to be established to examine Raw Food Tax removal issue

Finance Minister Dr. Nigel Clarke has indicated that a committee will be set up to examine the Raw Food Tax removal issue, following concerns raised by the Opposition and stakeholders in the agriculture sector.

Speaking in Parliament yesterday, Dr. Clarke again outlined the basis of the decision to remove the General Consumption Tax, GCT, from some raw food items, in order to be in compliance with some World Trade Organisation, WTO stipulations.

The measure is to take effect in the first quarter of the upcoming fiscal year.

Dr. Clarke objected to comments made by the Opposition about the tax removal.

He pointed out that, having been made aware of the breach, the decision to remove the tax, is in line with honouring international obligations.

The Minister said there are options to be considered, so the working group or committee will review the stamp duty regime.  

Dr. Clarke said some items that were exempted, will continue to be treated as is in relation to GCT.


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