GCT slapped on raw foods
Published: Friday | December 18, 2009
Persons shopping for ground produce in Coronation Market, or any other market after January 1, 2010, should walk with their calculators because they will have to pay general consumption tax (GCT) on these items.
A ministry paper tabled by Finance Minister Audley Shaw shows that raw foodstuff, including fresh fruit and vegetables, will attract 17.5 per cent GCT.
Yam, banana, onion, garlic, meat and poultry will also attract GCT come New Year's Day.
And there is no beating the taxman by travelling to the country to buy the produce directly from the farmer.
The ministry paper makes it clear that unprocessed agricultural produce, freshwater fish, forestry cultivation and horticulture supplied directly at the farm gate will also attract GCT.
Some of the items to attract GCT come January 1, 2010
| 1) Raw food stuff as follows: |
a) Fresh fruit and vegetables b) Ground provisions c) Legumes d) Onion and garlic e) Meat f) Poultry g) Fish 2) Cornmeal 3) Corned beef 4) Pickled mackerel, herring, shad and dried salted fish 5) Canned sardines, herring and mackerel 6) Bread, buns, bullas, biscuit and crackers 7) Sugar 8) Salt 9) Eggs 10) Patties 11) Rolled oats 12) Baking flour 13) Cooking oil 14) Syrup 15) Fish, cock and noodle soups 16) Animal feeds 17) Sanitary towels and tampons 18) Solar water heaters 19) Activities for which an admission is charged by any cultural or other organisation 20) The supply of sewerage disposal services 21) Services rendered by an undertaker in relation to burial or cremation, including the supply of coffin Some items which will continue to be exempt from GCT 1) Milk - excluding condensed milk, powdered skimmed milk, milk-based products 2) Infant formulas 3) Rice 4) Counter flour 5) School uniforms 6) Drugs (specified items) 7) Contraceptive devices and substances 8) Printed matter (excluding newspapers, magazines, periodicals and journals) 9) Stationery and educational apparatus and equipment which are used by educational institutions 10) Exercise books 11) travel tickets for international travel 12) Altar bread, matzos, unleavened bread 13) Bus and taxi fares 14) Rent for residential properties 15) Water (excluding bottled water) to the public 16) The payment of dividends and interest
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