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Tax to be removed from small vehicles as part of Government's fuel efficiency drive |
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Saturday, 10 May 2008 |
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The Government will be removing the special consumption tax (SCT) on motor vehicles of 1,000 ccs or less according to Audley Shaw, minister of finance and the public service.
The minister said the new policy was being implemented in an attempt to encourage Jamaicans to use energy-efficient motor vehicles.
"What we are going to put in place is a special programme where we are not going to charge any special consumption tax at all on motor vehicles of 1,000cc or less," he announced while speaking at the GSB Cooperative Credit Union Limited's annual general meeting on Tuesday evening.
"Zero special consumption tax and, as the cc ratings go up, then you will see a higher and higher rate of consumption tax being applied to the vehicle. The higher the cc rating, the higher the SCT application to it."
Shaw said there would be an additional 10 per cent reduction on diesel units of all types.
According to finance minister, this was being put in place as part of the Government's drive to conserve on energy and reduce the country's fuel bill which, last year, was $1.79 billion as at November 2007.
Shaw said the Government would be putting its money where its mouth is and roll out a comprehensive energy conservation plan later this year. Part of this plan would include meeting a target of 15 per cent energy reduction in all ministries, he said.
It can be done but it is not going to be done unless, as government workers together, we all buy into that model so that it can be achieved," said Shaw.
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