The St. Vincent & the Grenadines government has announced a series of tax increases during the unveiling of their EC$1.6 billion budget.
The new taxes, set to take effect in May of this year, are expected to impact various aspects of Vincentians’ lives, with the government aiming to generate an additional $6.7 million in revenue for 2024.
Higher costs for drivers and motor vehicle licences
One of the standout changes in the budget involves a substantial 25 per cent increase in fees for drivers and motor vehicle licences.
Vincentians will need to prepare for heftier expenses related to their driving privileges, signaling potential challenges ahead for those dependent on personal transportation.
Rising charges for inspection of electrical wiring
Fees for the inspection of electrical wiring in domestic and commercial buildings will be doubled, while fees have been introduced for wiremen.
Air travel costs surge with airport service charge hike
Travelers to and from St. Vincent & the Grenadines will also feel the impact of the budget, as the government has approved a substantial increase in the airport service charge.
Beginning in May, passengers will see this charge rise by at least 37.5 per cent, climbing from the current US$40 to US$55.
The government is hoping the measure will generate $6.7 million more in revenue this year.
