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Gov't streamlines taxes on yachts

Published: Sunday December 23, 2012 | 10:15 am Comments 0

Cabinet has approved the implementation of a prescribed annual fee that will replace the various taxes charged on yachts registered in Jamaica.

Minister with responsibility for information Sandrea Falconer, who made the announcement, says yachts below 25 feet in length will not be required to pay registration or safety inspection fees for the first two years after being landed.

Miss Falconer says Cabinet has also approved the introduction of a cruising permit fee, under the Shipping Act, to be paid by visiting foreign-registered yachts.

She says the new fees are part of a thrust by the government to stimulate interest in nautical tourism and yacht registration in Jamaica.

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