1 week Ago
GOLF clubs, cricket helmets and other sporting equipment, along with electric vehicle chargers and parts are now exempt from all Customs Duty, Value Added Tax and Online Purchase Tax, the Ministry of Finance announced yesterday. The waiver came into effect on January 1. While delivering the 2025 national budget on September 30, Finance Minister Colm Imbert explained the rationale for the exemptions as follows: “Those of us who take part in sporting activities will know how expensive sporting gear can be.
Accordingly, in keeping with our policy to encourage healthy lifestyles, we shall in 2025 exempt all sporting equipment from taxes and duty, with the exception of clothing. This measure will take effect from January 1, 2025, and is estimated to cost $20 million.” In addition, Imbert said the Government would remove all taxes on electric vehicles to encourage motorists to make the switch and help reduce the carbon footprint and the need for a fuel subsidy.
“Those of us who own an electric vehicle will be aware that the cost of operating these vehicles is a fraction of the cost of gas-powered or diesel-powered vehicles. In fact, the cost of electricity to charge an electric vehicle for an equivalent travel distance can be as little as 20% of the cost of fuel for the same distance. Even with an increase in electricity rates, therefore, an electric vehicle can save motorists thousands of dollars per year in fuel costs,” Imbert stated.
Imbert stated the price of electric vehicles is also coming down rapidly, with countries like China producing very affordable and reliable electric cars for everyday use. “Previously, the use of electric vehicles was constrained by the absence of public charging stations, but as the technology has progressed, efficient home chargers are now readily available at reasonable prices. Accordingly, in order to further encourage the switch to electric vehicles, to assist with our reduction of carbon emissions and to meet our climate change undertakings, I propose in 2025 to exempt all electric vehicle charging equipment and related accessories from all duties and taxes,” he stated.
Electric vehicle chargers and parts • Electric vehicle parts • Electric vehicle batteries • Electric vehicle charging stations/chargers for a voltage not exceeding 1,000 V • Electric vehicle charging stations/chargers for a voltage exceeding 1,000 V Sporting Equipment • Trapeze bars and rings • Trapeze rings • Horizontal bars • Parallel bars • Balance beams • Vaulting horses • Pommel horses spring boards • Wall bars • Kip practice bars • Hand grips • Air tracks • Indian clubs • Dumbbells • Barbells • Kettlebells • Weight plates • Stability balls • Fitness balls • Medicine balls • Jump balls with one or more handles designed for physical exercises • Chest expanders • Hand grips • Starting blocks • Competition hurdles • Agility hurdles • Jumping stands • Jumping standards • Vaulting poles • Landing pit pads • Javelins • Discuses • Throwing hammers • Putting shots • Punchballs (speedbags) • Punchbags (punching bags) • Boxing rings • Wrestling rings • Skipping ropes designed for sports activities and fitness classes • Foam rollers • Coastal rowers • Scull • Cyclocomputer • Golf clubs (complete) • Golf balls • Other golf equipment • Articles and equipment for table-tennis • Lawn tennis rackets, whether or not strung • Lawn-tennis balls • Inflatable soccer balls • Inflatable other balls (not golf balls or table-tennis balls) • Other balls (not golf balls or table-tennis balls) • Ball pumps • Other: For cricket, other than cricket balls • Other: For soccer, other than soccer balls • Other: For lawn tennis, other than tennis rackets and balls • Hockey sticks • Baseball bats • Softball bats • Basketball nets • Volleyball nets • Badminton nets • Netball nets • Fencing foils • Fencing sabres • Fencing rapiers • Fencing epees • Fencing masks • Fencing breast plate • Archery bows • Archery arrows • Archery targets • Archery arm guards • Archery T-squares • Archery bow stringers • Riding crops • Equestrian whip • Equestrian saddle • Equestrian bridles • Basketball backstops • Basketball backboards • Netball rings • Netball goal posts • Water polo goal posts • Baseball gloves • Boxing gloves • Cricket gloves • Cycling gloves • Equestrian gloves • Golf gloves • Hockey gloves • Gloves used in combat sports such as mixed martial arts, sambo, kickboxing, taekwondo and karate. • Rowing gloves • Rugby gloves • Soccer gloves • Baseball helmets • Boxing headgear • Cricket helmets • Cycling helmets • Equestrian helmets • Rugby headgear • Water polo headgear • Headgear used in combat sports such as mixed martial arts, sambo, kickboxing, taekwondo and karate..
