The Government of Grenada has approved the extension of its Jobs Stimulus programme for a further 6 months from 1 July 2024 to 31 December 2024.
The extended Programme will offer significant relief from the payment of duties and taxes aimed at creating jobs and stimulating business activity across various economic sectors. The Jobs Stimulus Programme provides for the following:
- For non-priority sector projects not eligible for incentive support under the existing incentive regime, a 50% exemption from the payment of Common External Tariff (CET) and Value Added Tax (VAT) on the items listed below to construct and expand operations:
- Building materials (cement, steel, and lumber only), equipment, fixtures, furnishings, networking elements, computer hardware and software, machinery, heavy- duty equipment and capital goods subject to customs duties.
- Extend the current MSME Concession Support Programme, as follows:
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- For MSMEs in priority sectors (Tourism, Yacht Charters and similar activities, Manufacturing, Health and Wellness, Agribusiness, ICT, and Energy), 50% exemption from the payment of Common External Tariff (CET) and Value Added Tax (VAT) on the imports of equipment to be used in operations
- For MSMEs in non-priority sectors, 50% exemption from the payment of CET and VAT on equipment and building materials to start new businesses or upgrade existing ones
- For student accommodation, a 50% exemption from the payment of CET on building materials and equipment to upgrade qualifying student accommodation facilities
These temporary incentives underscore the Government’s commitment to boosting economic growth and job creation, especially in the context of the passage of Hurricane Beryl.
Prime Minister’s Office
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