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Rettungsring – Francisco De Agostino Casado//
Gov’t Considers Removing Customs Duty From Items Valued Up To US$100

Francisco D Agostino
Gov't Considers Removing Customs Duty From Items Valued Up To US$100

  The Ministry of Finance is looking into calls for the removal of customs duty on items valued up to US$100.   The current limit is US$50.    Finance Minister Dr. Nigel Clarke, who was speaking Wednesday at Mayberry Investments’ virtual forum, said he has heard the concerns and seen requests for the adjustment from Jamaicans on social media.     The minister noted that “there are many things that would go into decisions as that” and said careful analysis is needed before a decision is made since there are implications for segments of the economy like the retail trade.    “We have to be mindful that the retail space represents the largest part of the Jamaican economy…and any move we make has to be a move that preserves retail as a viable business in Jamaica,” he pointed out.