New CET Regime for Saint Lucia

Contact: Rose Marie Harris

Thursday, January 13, 2000 – The Island’s indirect taxation regime has been restructured to facilitate the implementation of the fourth phase of the Common External Tariff (CET).

Director of Research, Development and Policy in the Ministry of Finance and Planning, Calixte Leon says the first phase of the CET was implemented in 1993 while the second phase came on stream in June 1996. "In our implementation of the final phase of the tariff we have also implemented the new harmonised system which will allow for greater dis-aggregation of the classification of items or products in the tariffs," Leon said.

Another benefit of the harmonisation is that there will be a decrease in discrepancies when classifying items. Also, the classification will allow for better time management in processing items.

The CET was established to facilitate the deepening of the process of industrialization in CARICOM whilst strengthening the trading arrangements within the Common Market.

In this final phase, there will be decreases in the tariffs on milk, flour, margarine, pasta, bay rum, toothpaste metal, plastic and wooden furniture used in offices. Leon says, "Items likely to attract increased tariffs include strawberries and raspberries, because CARICOM produces many suitable alternatives."

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