Given the fallout in the construction industry due to the COVID-19 pandemic, the PPP/C government has removed VAT (value-added tax) from the importation of stones to aid in the revival of the construction industry.
This order was made by President Dr Irfaan Ali earlier this week in the exercise of the powers conferred upon him by Section 98(1) of the Value-Added Tax Act.
The section was amended to say: “…zero-rated for the purpose of Section 17 is importation of stones of a type and quality used in construction and housing, provided that: A Certificate of CARICOM Origin is submitted by the importer in accordance with Section 15 of the Customs Act, Chapter 82:01…”
President Ali also ordered that the removal of the tax applies immediately until June 30, 2021.
This is part of government’s efforts to revive the construction sector which, like many others, had been severely impacted by the pandemic.
