Grenada’s government has announced a one-month delay in the implementation of an increase in the Excise Tax on alcohol and tobacco products as well as Value Added Tax (VAT) on sugar, sugary or carbonated drinks.
Grenada’s Prime Minister Dickon Mitchell, who is also the country’s Minister of Finance, had in his budget statement last December announced, that as of February 1, this year, alcohol and tobacco product will see an increase in the excise tax while refined sugar will be removed from the zero rates VAT list and the VAT on sugary products will increase to 20 per cent.
But at the first post-cabinet news conference for the year, Mitchell told reporters that his administration wanted to have more discussions with the various stakeholders who will be directly affected by the taxes.
The Grenadian Prime Minister, who presented a resolution for the increase to the Parliament last Friday, said that the delay for enforcement is to identify the list of products that will be affected.
