Value Added Tax under consideration in Grenada

by Leroy Noel

Saturday, March 20, 2004

ST GEORGE'S, Grenada: Senior Officials from the Ministry of Finance together with representatives from the Caribbean Regional Technical assistance Centre (CARTAC), made their first presentation to the Grenada Cabinet on the feasibility of implementing a Value Added Tax (VAT) in Grenada.

The presentation was done in two parts and focused on, first, the concept of VAT and the dynamics involved in implementing such a tax and, secondly, the considerations and issues involved in the introduction of a VAT 

This presentation to Cabinet marked the first session in a series of policy seminars, which the Ministry of Finance, in conjunction with CARTAC, will be conducting with various stakeholders. The next session is scheduled for April and would involve officers of the Inland Revenue Department, The Department of Customs and Excise and other government departments that will be involved in the administration of the tax.

As announced in the 2004 Budget Speech by Minister of Finance, Anthony Boatswain, the reintroduction of VAT in Grenada is carded for January 2006. 

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