Tuesday, April 16, 2024

Hotels to be exempted from tax

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MEMBERS OF THE Barbados Hotel & Tourism Association (BHTA) will be exempted from paying the increase in the National Social Responsibility Levy (NSRL) on items set out in the Tourism Development Act (TDA).

The news from Minister of Finance Chris Sinckler was relayed to BHTA members by chairman of Barbados Hotel & Tourism Association, Roseanne Myers, at the association’s 65th annual general meeting on Wednesday evening.

“We have been in touch with Minister Sinckler, who has fairly much confirmed that the mechanism for accessing the duty-free status under the TDA will also be the umbrella legislation for accessing the NSRL exemption,” Myers announced while delivering the chairman’s report at the milestone meeting.

She advised members to ensure that updated documentation was submitted to Customs when they were importing items under the TDL, but noted BHTA membership had not yet “fully accessed” a lower cost regime facilitated by the TDA and the Tourism Development Act Amended (TDAA). (GC) 

Please read the full story in today’s Weekend Nation, or in the eNATION edition.

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