By Admin. Updated 4:45 p.m., Friday, October 6, 2023, Atlantic Standard Time (GMT-4).
Persons who have been operating taxis in St. Vincent and the Grenadines for three or more years can qualify to receive up to 100 percent concessions if they import a new taxi.
Minister of Tourism – Mr. Carlos James outlined the Cabinet-approved measure to representatives of several taxi organizations at a press conference today (October 6).
Minister James said Taxi Operators receiving concession will be exempt from of Import Duty, Excise Duty, Vehicle Charge and VAT relevant to the year of the vehicle being imported into the country.
Vehicles 0-1 year old will receive 100 percent duty-free concession. Vehicles that are 2-3 years old will receive 75 percent, and vehicles 4-6 years old will receive 50 percent duty.
All applications must be submitted along with copies of supporting documents to the Permanent Secretary, Ministry of Tourism, etc.
Any applicant who is aggrieved with the decision of the Director General, Finance and Planning, Ministry of Finance may submit an appeal to the Cabinet, within 21 days of the date of the letter communicating his decision.
Among the requirements to qualify for the taxi concession include:
All applicants for taxi concessions must be registered and licensed as stipulated in the St. Vincent and the Grenadines Tourism Authority Act. They must be in compliance with the annual license fees and registration payments for the last three (3) years consecutively.
Taxi operators must be in good standing in terms of licences and taxes with the Inland Revenue Department (IRD) and registered with the National Insurance Services (NIS) and be in good standing as a voluntary contributor.
All vehicles must be used primarily for the provision of transportation services for tours and general taxi services around St. Vincent and the Grenadines.
Vehicles must be licensed with an LC registration plate, and Taxi operators of vehicles must be familiar with and adhere to the requirements of the National Standard for Taxi Services.
Concessions will be granted on one (1) vehicle, not more than six (6) years old, within a four (4) year period.
The vehicle should be a motor car, SUV or minivan with seating capacity of a minimum of five (5) persons including the driver.
Vehicles granted concessions under this programme must not ply the routes as public service transport. To do so, will constitute a violation of the terms and conditions of this incentives programme.
If any terms and conditions of this policy are violated, penalties will be imposed in accordance with the Customs (Control and Management) Act (CAP. 422).
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