Owners and operators of sports stores and gyms are pleased that the Minister of Finance has made good on his budget promise to make sporting equipment exempt from customs duty, VAT and the online purchase tax.
In a news release on Thursday, the Minister confirmed that the exemption took effect on New Year’s Day.
The release stated, “The Minister of Finance, Honourable Colm Imbert, MP, wishes to advise that in keeping with the budget statement for the financial year 2025, there is a waiver of all customs duty, valued added tax, and online purchase tax on the following, effective January 1, 2025.”
The news release then outlined...
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Author: Peter Christopher