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Contact:
Prime Minister’s Press Secretary
Thursday, April 10, 2003 - Prime Minister and Minister of Finance and
Economic Affairs Dr Kenny D. Anthony today indicated that the reductions which
he announced in excise duties for vehicles during his budget address on Tuesday
were incorrect.
The figures announced were in fact the previously existing
rates. The actual reductions are lower than what was announced and are as
follows.
- A 10% reduction for coaches and buses of seating capacity
exceeding 21 persons, from 60 % to 50%. This will yield an effective reduction
of 20%;
- A reduction for coaches and buses of seating capacity
exceeding 29 persons, from 60% to 50%. This will yield an effective reduction
of 20%;
- A reduction for vehicles between 1,000cc and 1,5000cc, from
40.5% to 30.5%. This will yield an effective reduction of 32.7%;
- A reduction for vehicles between 1,800cc and 2,000cc, from
70% to 60%. This will yield an effective reduction of 16.7%
- A reduction for vehicles above 2,000cc and up to 3,000cc,
from 95% to 85%. This will yield an effective reduction of 11.8%; and
- A reduction for vehicles above 3,000cc, from 100% to 95%.
This will yield an effective reduction of 5.3%.
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