News
Fuel import duty to reduce by 50%; Customs duty on all goods to reduce to 5%- Premier
ROAD TOWN, Tortola, VI- Residents of the Virgin Islands are set to benefit from another round of economic stimulus, this time it will be on customs and fuel import duties, Premier and Minister for Finance Hon. Andrew A. Fahie (R1) has said.
Import duty exemption post hurricanes was abused- Hon Fraser
ROAD TOWN, Tortola, VI - Honourable Julian Fraser RA, Opposition Member and Third District Representative, during the Fourth Sitting of the Third Session of the Third House of Assembly (HoA) on Friday April 27, 2018, expressed that the exemption import duty system which the government of the day implemented was abused by some persons while the individuals that desperately needed the system did not benefit.
No new duty on import policy as yet despite Premier’s annoucement
ROAD TOWN, Tortola, VI - Customers on the watch for expected lower prices on store shelves due to the recent announcement that effective February 1, 2012 persons importing goods into the Territory will see a reduction in their duty charges - as they will only be required to pay duty on Free On Board (FOB) costs as opposed to the previous practice of paying on Cost, Insurance and Freight (CIF) - will have to wait a little while longer.
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