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St. Kitts and Nevis Information
Stimulus for Ice Cream Business on St Kitts and Nevis
2009-12-29 22:11:54 by
The Government of St Kitts and Nevis has granted a waiver of the Import Duty and Consumption Tax on the importation of raw materials which are used in the manufacture of ice cream.
Dr the Hon Timothy Harris, Minister of Finance, International Trade, Industry, Commerce and Consumer Affairs, convinced the Cabinet of the importance of the indigenous ice cream manufacturing sector to the economy; the challenges that it faces; and the need to adopt a fiscal policy to incentivise and stimulate the growth of ice cream manufacturing in St Kitts and Nevis.
The waiver will be in effect for 36 months, starting January, 2010, and apply to manufacturers and delivery vans. Harris said that the measures will assist local ice cream manufacturers in achieving expanded production quantities through the utilization of inactive capacity, that several local ice cream manufacturing plants presently possess.
Dr the Hon Timothy Harris, Minister of Finance, International Trade, Industry, Commerce and Consumer Affairs, convinced the Cabinet of the importance of the indigenous ice cream manufacturing sector to the economy; the challenges that it faces; and the need to adopt a fiscal policy to incentivise and stimulate the growth of ice cream manufacturing in St Kitts and Nevis.
The waiver will be in effect for 36 months, starting January, 2010, and apply to manufacturers and delivery vans. Harris said that the measures will assist local ice cream manufacturers in achieving expanded production quantities through the utilization of inactive capacity, that several local ice cream manufacturing plants presently possess.