Thursday, June 1, 2006

by Kishawn Thomas
Caribbean Net News Grenada Correspondent
Email: kishawn@caribbeannetnews.com

ST GEORGE’S, Grenada: A special sitting of Grenada’s parliament will be held on Friday to take the Petrol Tax Amendment Act through all its stages.

The Act, which had its first reading at last week’s sitting, will according to section three now require importers of petrol to pay a flat tax of three dollars on each gallon of petrol imported into the state for local consumption.

This, according to government officials, will be beneficial for consumers as they will now be able to enjoy a flat rate at the pump for the near future.

This amendment will also make allowance for the removal of the government consumption tax and custom tax, which at times fluctuates based on the world market.

Energy Minister Gregory Bowen said, if approved, this amendment will also allow government to budget based on the three dollar flat tax and not controlled by the unpredictable world market.

The Amendment Act will be taken through its final two stages on Friday and then passed to the senate for debate.

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