Headlines:
| Car dealers to meet with Shaw |
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| Wednesday, 07 May 2008 | |
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Finance Minister
Audley Shaw and car dealers are to meet Wednesday to discuss lingering concerns
about new tax measures for the industry. The meeting is being held with just days to go before the end of the two week reprieve granted to vehicle importers. The tax measures which were announced by the Finance Minister during his budget presentation last month are aimed at simplifying the duty regime for motor vehicles. It will reduce the number of GCT rates and return to a single, non-discriminatory rate system between dealers and buyers. Car dealers, however, have been complaining that the new structure is punitive and will drive them out of business. President of the Jamaica Used Car Dealers Association Kenneth Shaw, said the Finance Minister will indicate whether any changes will be made to the proposed measures. "There were a few concerns, one was the impact that the change in the duty rate would have on the industry because there were increases in most categories of motor cars. There was also the disparity where dealers and individuals would now pay the same duty rates overall, although dealers have to give warranties and other overhead concerns that an individual importer would not have," said Mr. Shaw. |