Amazon Prime Day 2024

Jamaica to reduce import taxes for hybrid vehicles

Jamaica will join the list of countries or states that are rewarding hybrid vehicle purchasers with lower taxes on the importation of the cars. According to Finance and Planning Minister Dr. Omar Davies, "Our estimate is that this led to revenue loss of approximately $550 million during the last fiscal year. However, the greater objective of reducing our energy import bill is being served." That is some positive thinking, I would say. More than just hybrid cars are likely to be issued import tax breaks, as Dr. Davies indicated that, "The tax officials and officials from the Ministry of Industry, Technology, Energy and Commerce are in further discussion about broadening the list of goods, which would be qualified." Sounds like a good idea to reward those with the foresight to focus on energy savings.

[Source: Jamaica Information Service]

Share This Photo X