Temporary Resident
Joined: 04 Sep 2006
Posts: 338
Location: West End, Cayman Brac
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 Posted: Mon Jan 04, 2010 8:24 am Post subject: Bring bug spray. Leave champagne and autos at home. |
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For those who don't read the Cayman Compass, this is the latest on the new import duties becoming effective today.
Excerpt:
Importers of sparkling wine will actually see a 100 per cent increase in tariffs, going from $3.75 per litre to $7.50 per litre.
On the other hand, those importing pesticides, insecticides, herbicides, vermin poisons and the like will see a previous 15 per cent duty charge removed. Those items are duty free under the new customs schedule.
Those seeking to bring older vehicles into the Islands will now have to pay an additional $1,000 Environmental Tax as well as the duty on vehicles, which now ranges between 29.5 per cent and 42 per cent depending the vehicle’s value.
The customs tariff increase is one of the government’s major revenue raising initiatives aimed at balancing the Cayman Islands budget in the current 2009/10 fiscal year. The tariffs are expected to bring in an extra $16.5 million during a full 12–month period. |
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brakker1............ Livin' a dream
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