Govt to extend duty relief
Government has tabled legislation aimed at extending duty relief for the Island's hotels and restaurants.
The Hotels (Temporary Customs Duty Relief) Amendment Bill 2014 and the Restaurants (Temporary Customs Duty Relief) Amendment Bill 2014 were both tabled in the House of Assembly on Friday.
If approved by the House, the amendments would come into effect on April 1, extending the offer of zero customs duty on goods imported for renovation and refurbishment in both sectors until March 31, 2019. If not approved, the benefits will stop at the end of this month.
Hotels have received such relief since 1991, while restaurants began receiving duty relief in 2002 after restaurateurs argued that restaurants in hotels — which were covered by the 1991 legislation — were receiving an unfair advantage.