New Omnibus Regulation brings duty reduction. Good move by the Government

When one sees good, it must be commended and I must commend Dr Peter Phillips and the Government on the introduction on aspects of this new Omnibus regulations that have seen some reduction in import duties and some relief for consumers.

The Jamaican consumer must now be vigilant in ensuring that merchants pass on these reduction in sticker prices to all consumers and where it’s not forthcoming let’s use the social media to force them into compliance.

Some examples of duty reduction.

  1. Television 31.5″ and above, duties cut by 50%,  old duty 40%, new duty 20%.  What does this mean in terms of the final price of a say a 40″ TV.  Let’s assume price of US$300 and final CIF in Jamaica of US$350. Original duties would have been  US$140 or Ja $ 15,200, now with a 50% cut in duties that price the expected savings for the consumer would be around $7,500, so check out those sticker prices.
  2. Some jewellery made from precious, original duty 50%, new duties 30%.
  3. Some auto parts, original duties 40%, new duties 20%

I will try to get the full listing and make that available on this blog for the benefit of the consumer. The Government has done it’s part, its now up to so to ensure we benefit from this initiative  via reduced prices in the stores.


2 Responses

  1. Are they finally coming to their senses?

  2. Don’t get happy too quick, the CAF is still a burden to business people and the duty for some raw materials will be increased

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