Friday, April 12, 2013

VAT to be removed from CCTV systems and related equipment

Government is making good on its promise to remove Value Added Tax (VAT) and import duties on CCTV camera systems that was announced in the 2012-1013 budget.

This was revealed Thursday by National Security Minister Jack Warner at the weekly post cabinet media briefing.


Warner said government is prepared to lose potentially millions of dollars in revenue to help improve security.

"The purchase of CCTV cameras and digital video recording equipment for home owners, for community and business security, small business, large business, all of this will be exempt from custom duties and VAT as of next week when this is confirmed," he said.

The minister explained that the Customs Act Chapter 78:01 will need to be amended to facilitate the change and and government would have to amend the relevant legislation.

Warner said persons who wish to buy the equipment would have to meet certain criteria and added that importers would have to pay VAT parts imported, distributed or sold separately.

The minister said he expects to have CCTV camera systems covering the whole country.

"We have completed Port of Spain, we have had some problems in the Port of Spain, especially in the Beetham Gardens area where several persons unknown have damaged several cameras. 

"We have them on screen and we have found a creative way to put back these cameras so damage will be minimised. Consequently, it is my hope that in the shortest possible time we shall have this country fully covered so that people can have additional security."

2 comments:

Daljeet Kaur said...

Whenever security of home or business place is concerned CCTV or Closed Circuit Television comes to our mind first. Nice post..Thanks for sharing the post.
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