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Marine industry gets 50% reduction of licensing fees!

- as a 'stimulus', according to Premier Fahie
The Government of the Virgin Islands has extended a reduction of fees for the 2020 to 2021 season, for the marine licensing year, November 1, 2020 to October 31, 2021. Photo: VINO/File
Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) has said the 50% reduction in licensing fees is a stimulus for the marine industry. Photo: Facebook/File
Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) has said the 50% reduction in licensing fees is a stimulus for the marine industry. Photo: Facebook/File
ROAD TOWN, Tortola, VI- In what has been described as a ‘stimulus' for the marine industry has been approved for a 50 per cent reduction of licensing fees because of the ongoing COVID-19 pandemic.

“In the form of a stimulus to the marine industry, I am pleased to announce that your Government has extended a reduction of fees for the 2020 to 2021 season, for the licensing year 1st November 2020 to 31st October 2021. This is a stimulus for our marine industry!” Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) stated.

The media release from the Government issued on Monday, March 22, 2021 further said Commissioner of Customs, Mr Wade N. Smith, said the move was to assist all Charter boat owners, charter companies, and charter management companies.

He explained that in accordance with Section 4 of the Commercial Recreational Vessel Licensing Act, 1992, Recreational Commercial Vessel licensing fees are due on November 1 each year and as a result, fees were due by November 1, 2020.

Fee reduction

“However, given the circumstances created by the COVID-19 pandemic which prevented the marine industry from operating at full capacity, licensing fees outstanding since November 1, 2020, is now due to be paid at a 50% reduction by April 15, 2021,” he stated.

If these fees are not paid by April 15, Smith warned that fines and penalties may apply in accordance with Section 11 of the Act for non-compliance.

The marine industry has been among the hardest-hit sectors during the pandemic with the closure of the seaports and restricted travel to the territory.

However, the seaports are expected to reopen for international operations on April 15, 2021.

15 Responses to “Marine industry gets 50% reduction of licensing fees!”

  • Forgee (23/03/2021, 09:59) Like (45) Dislike (5) Reply
    How them cockroach say VIP not helping the business community?
    • jokes (23/03/2021, 10:07) Like (10) Dislike (1) Reply
      If a business is currently closed or opened but down 90% and get their next trade license renewal free, how is that a stimulus?
  • musa (23/03/2021, 10:03) Like (11) Dislike (19) Reply
    Bvi government have to do better than that.
  • one eye (23/03/2021, 10:30) Like (17) Dislike (10) Reply
    Many thanks to the vip you still the party of the people
  • No fee (23/03/2021, 10:32) Like (7) Dislike (18) Reply
    The sea borders have been closed for a year now so how about no fee for 2020!!!
  • @ FORGEE (23/03/2021, 10:42) Like (1) Dislike (0) Reply
    U better put on your glasses then tek ah look in the mirror just make sure you got baygon
  • W*F (23/03/2021, 10:45) Like (6) Dislike (17) Reply
    50% off a fee to the boat owner doesn't help local business.
  • east end man (23/03/2021, 13:34) Like (0) Dislike (2) Reply
    Good move VIP.
  • Capt Ron (23/03/2021, 13:44) Like (9) Dislike (1) Reply
    So if you followed the rules and paid on time, you pay 100%. If you didn't pay and broke the rules, you only have to pay 50% now. Way to go BVI! Forwards never, backwards ever!!!
    • @capt ron (23/03/2021, 15:38) Like (5) Dislike (1) Reply
      absolutly.....so we pay on time to help the government coffers and those who failed to pay get rewarded ??? does this mean if we paid on timewe have a 50% credit for next year ??
  • small man (23/03/2021, 15:41) Like (0) Dislike (1) Reply
    NHI; Inland Revenue; Social Security up our backside but some folks getting breaks
  • Scam artists (24/03/2021, 10:23) Like (1) Dislike (0) Reply
    This is all a bit of a sham. The government wants all the charter yachts in the territory to pay their annual licensing fee, but the yachts have been idle for a year and have no reasonable charter prospects going forward this year.
    Not "in business" because tourists have been effectively locked out, why pay for a license to do nothing?


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