Finance minister Camillo Gonsalves announced in his budget presentation that the government will be revising taxes on imported vehicles with the aim of making newer vehicles more affordable to Vincentians.
According to Minister Gonsalves, the revision will take place in the early part of this year as they seek to address the high taxes vehicles attract and will be looking to incentivise newer vehicles.
The finance minister said that the calculations for any buyer will know beforehand the overall cost for the vehicle purchased, noting that they are leaning towards the importation of more hybrid vehicles.
The prime minister added that they have noticed that only 3-percent of new imported vehicles are in the country and this has to change.
