Be sure to hit the notification bell below to get further updates on this and other stories.
The much talked about 2.5% Health and Security Levy on selected item comes into force today August 2nd leaving St Lucians non the wiser on which specific items will attract the tax.. This latest policy shift has drawn mixed reviews from observers, with proponents and detractors standing firmly on their respective sides of the argument. While supporters of the move believe that the additional funds will contribute to economic growth, staunch opponents, such as Senator Dominic Fedee, have noted that the levy will have “severe implications on the already high cost of living”.
According to an official statement on the government’s website, the tax “is applicable only to imported goods, however, there will be no levy applied to any good that is zero rated or exempt in accordance with the VAT Act.” The statement also notes, that these taxes “will be applied on the final service price for services provided within Saint Lucia, including applicable taxes on the supply of the service.”
Only time will tell what the true impact of the levy will be on the nation, as the Saint Lucians find ways to cope with the adjusted prices.
For more information on this and similar stories, join us for the Hot 7 TV news at 6:45 on Flow channel 117, Kiss FM, the Caribbean Hot FM mobile app and the Caribbean Hot 7 TV Facebook page. We are also available on the HOT 7 Plug and Play antennae. Contact us at [email protected] or call us at 1(758)452-6040 if you have a story of interest to share. We are your official source for breaking news.