Importers of motor vehicles who have already paid for their vehicles between 17th November and 17th December 2020 have 3 weeks to apply for exemption from increase in Excise Tax
Importers of motor vehicles who have paid for their transport between 17th November and 17th December 2020, have three weeks to submit their applications for exemption from the 25% increase in Excise Tax, which took effect on 1st January 2021.
Those importers have to apply for the exemption, with all their necessary documents, to the Principal Secretary for Trade, Ms. Cillia Mangroo.
The importers are benefiting from this exemption because, while there was a temporary moratorium on the importation of motor vehicles, President Wavel Ramkalawan, announced on 17th November, before the National Assembly, that those who have a foreign exchange account can import vehicles.
The grace period reflects the period when the President made the announcement whereby importers who have their foreign exchange account could import and pay for their motor vehicles (17th November 2020) and when the increase in Excise Tax was announced in December 2020.
Please note the exemption from the 25% increase in Excise Tax, is ONLY for those who have either made a partial or full payment for their vehicles between 17th November and 17th December 2020.