ST. GEORGE’S, GRENADA April 30, 2013: The Government of Grenada hereby informs all VAT registered businesses and the general public that, effective 1st May 2013 and until December 31st 2014, the rate of Valued Added Tax on the following building materials will be reduced to five percent (5%):
· Lumber (wood and ply)
· Building cement (use for mixing mortar and does not include any other cement such as those used for laying tiles.
· Roofing materials include:
o Asphalt Shingles
o Rooll Roofing
o Clay Tiles
o Polypropylene Sheets (clear and coloured)
o Continuous roofing
· Steel Rods (does not include wire mesh such as BRC wire)
· Construction Blocks
This reduction is in keeping with the Government’s aim of stimulating the construction sector and job creation as outlined in the 2013 Budget.
The Ministry of Finance encourages businesses to pass on the benefits of the reduced VAT rate to consumers, and urges consumers to be vigilant and monitor the anticipated price reduction of the above mentioned items.
The general public is asked to report any discrepancies to the Inland Revenue Division at hotline 435-9085 or 435-6945/46.