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It's game ova....sorry.
GCT slapped on raw foods
Published: Friday | December 18, 2009
Persons shopping for ground produce in Coronation Market, or any other market after January 1, 2010, should walk with their calculators because they will have to pay general consumption tax (GCT) on these items.
A ministry paper tabled by Finance Minister Audley Shaw shows that raw foodstuff, including fresh fruit and vegetables, will attract 17.5 per cent GCT.
Yam, banana, onion, garlic, meat and poultry will also attract GCT come New Year's Day.
And there is no beating the taxman by travelling to the country to buy the produce directly from the farmer.
The ministry paper makes it clear that unprocessed agricultural produce, freshwater fish, forestry cultivation and horticulture supplied directly at the farm gate will also attract GCT.
Some of the items to attract GCT come January 1, 2010
1) Raw food stuff as follows:
a) Fresh fruit and vegetables
b) Ground provisions
c) Legumes
d) Onion and garlic
e) Meat
f) Poultry
g) Fish
2) Cornmeal
3) Corned beef
4) Pickled mackerel, herring, shad and dried salted fish
5) Canned sardines, herring and mackerel
6) Bread, buns, bullas, biscuit and crackers
7) Sugar
8) Salt
9) Eggs
10) Patties
11) Rolled oats
12) Baking flour
13) Cooking oil
14) Syrup
15) Fish, cock and noodle soups
16) Animal feeds
17) Sanitary towels and tampons
18) Solar water heaters
19) Activities for which an admission is charged by any cultural or other organisation
20) The supply of sewerage disposal services
21) Services rendered by an undertaker in relation to burial or cremation, including the supply of coffin
Some items which will continue to be exempt from GCT
1) Milk - excluding condensed milk, powdered skimmed milk, milk-based products
2) Infant formulas
3) Rice
4) Counter flour
5) School uniforms
6) Drugs (specified items)
7) Contraceptive devices and substances
8) Printed matter (excluding newspapers, magazines, periodicals and journals)
9) Stationery and educational apparatus and equipment which are used by educational institutions
10) Exercise books
11) travel tickets for international travel
12) Altar bread, matzos, unleavened bread
13) Bus and taxi fares
14) Rent for residential properties
15) Water (excluding bottled water) to the public
16) The payment of dividends and interest
It's game ova....sorry.
GCT slapped on raw foods
Published: Friday | December 18, 2009
Persons shopping for ground produce in Coronation Market, or any other market after January 1, 2010, should walk with their calculators because they will have to pay general consumption tax (GCT) on these items.
A ministry paper tabled by Finance Minister Audley Shaw shows that raw foodstuff, including fresh fruit and vegetables, will attract 17.5 per cent GCT.
Yam, banana, onion, garlic, meat and poultry will also attract GCT come New Year's Day.
And there is no beating the taxman by travelling to the country to buy the produce directly from the farmer.
The ministry paper makes it clear that unprocessed agricultural produce, freshwater fish, forestry cultivation and horticulture supplied directly at the farm gate will also attract GCT.
Some of the items to attract GCT come January 1, 2010
1) Raw food stuff as follows:
a) Fresh fruit and vegetables
b) Ground provisions
c) Legumes
d) Onion and garlic
e) Meat
f) Poultry
g) Fish
2) Cornmeal
3) Corned beef
4) Pickled mackerel, herring, shad and dried salted fish
5) Canned sardines, herring and mackerel
6) Bread, buns, bullas, biscuit and crackers
7) Sugar
8) Salt
9) Eggs
10) Patties
11) Rolled oats
12) Baking flour
13) Cooking oil
14) Syrup
15) Fish, cock and noodle soups
16) Animal feeds
17) Sanitary towels and tampons
18) Solar water heaters
19) Activities for which an admission is charged by any cultural or other organisation
20) The supply of sewerage disposal services
21) Services rendered by an undertaker in relation to burial or cremation, including the supply of coffin
Some items which will continue to be exempt from GCT
1) Milk - excluding condensed milk, powdered skimmed milk, milk-based products
2) Infant formulas
3) Rice
4) Counter flour
5) School uniforms
6) Drugs (specified items)
7) Contraceptive devices and substances
8) Printed matter (excluding newspapers, magazines, periodicals and journals)
9) Stationery and educational apparatus and equipment which are used by educational institutions
10) Exercise books
11) travel tickets for international travel
12) Altar bread, matzos, unleavened bread
13) Bus and taxi fares
14) Rent for residential properties
15) Water (excluding bottled water) to the public
16) The payment of dividends and interest
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