Gov’t’s duty-free import scheme for key sectors yields $1.4b in benefits
MIIC Author
A Government scheme that allows companies to import certain items duty-free in areas such as agriculture and tourism generated benefits totalling $1.4 billion for the period 2021 – 2023, Industry, Investment and Commerce Minister Aubyn Hill says.
Senator Hill made the announcement during his contribution to the 2023/24 State of the Nation Debate in the Senate on Friday.
The Productive Inputs Relief-Fiscal Incentive Regime scheme facilitates duty-free importation of specific items intended for productive use, as well as income tax relief to spur expansion of productive activities in the various sectors.
The Government has targeted agriculture, manufacturing, tourism, healthcare, and the creative industries.
The incentives incorporate, among other things, relief on customs import duties, normally charged when importing goods into the country; additional stamp duties, usually applied at the port on certain products; and corporate income tax, generally levied on the profit income of businesses.
Source: Gleaner
Recent News
See all news
Posted on 10/03/2026
Growth & Jobs | JBDC launches ‘Biz Wiz’ online platform to boost entrepreneurship
The Jamaica Business Development Corporation (JBDC), officially launched its online learning platform, designed to transform businesses through entrepreneurship education. Dubbed ‘JBDC Biz Wiz’, the platform is designed to support entrepreneurs at...
Posted on 10/03/2026
Craft talks
MINISTER of state in the Ministry of Industry, Investment and Commerce Delano Seiveright has initiated talks with the Alliance Craft Traders and Producers Association of Jamaica, the island’s largest organisation representing craft vendors and art...
Posted on 06/03/2026
New regulations coming to benefit small ganja farmers
Minister of Industry, Investment and Commerce Senator Aubyn Hill has announced changes to the Cannabis Licensing Regulations that will allow community groups, comprising small ganja farmers, to cultivate up to 10 acres of marijuana for medicinal p...
