Grenada: The Government of Grenada has announced the first phase of fiscal incentives that have been planned to benefit the citizens of Grenada, Carriacou and Petite Martinique who were majorly affected by Hurricane Beryl by implementing the “Free Barrel” programme.
As per the announcement, these new fiscal incentives will include 100% duty and tax exemptions which will also include Customs Service Charge, Port Charges and Stamp Duties. This tax exemption will be on food, clothing, small household appliances, linen and bedding items, toiletries, sanitary products (adults and children) and household cleaning supplies that are imported into the State of Grenada either in boxes, barrels and crates.
Furthermore, the implemented policy notes that the items that will be imported should not be used for commercial purpose or resale. Also, it is to be noted that each household will get limited stock, that are two barrels per household.
The authorities have shared that the elimination of duties and taxes will only apply to barrels that got cleared on or after July 22, 2024. This scheme will be followed until December 31, 2024. This initiative is referred to as the “free barrel” programme.
Sharing the update on the administrative procedures, the authorities reveal that the administrative process for clearing the barrels would remain the same. But from now on the importers would not have to pay the usual duties, taxes and fees.
Further, the authorities advised, “Please note that items will still be valued by a Customs Officer, and so invoices and other documentation are still required.”
Following this, the importers must provide at least one of the following forms of identification to get their items cleared, which include a Driver’s License, Passport, Voter’s Registration Card, or NIS card.
As per the rules set, the residents will only be able to avail of the benefits from duties, taxes, and fees up to two barrels for each household. The items above will be charged on taxes as usual.
Also, the government has advised residents and importers that if they provide a false declaration to the customs, they will be charged with a serious offense and will have to pay a fine.
