THIS DECISION ALIGNS WITH THE CARICOM COUNCIL FOR TRADE AND ECONOMIC DEVELOPMENT'S (COTED) ENDORSEMENT

The Government of Saint Lucia, through the Department of Finance, has announced an extension of the existing concessions on hybrid vehicles and vehicles that operate on sustainable fuels. This decision aligns with the CARICOM Council for Trade and Economic Development's (COTED) endorsement and reflects the government’s ongoing commitment to promoting environmentally sustainable practices.

In accordance with Cabinet Conclusion Number 357 of 2024, the following measures have been approved:

1. Extension of Concessionary Import Duty Rates: The concessionary rates of import duty on hybrid vehicles and vehicles operating on sustainable fuels will be extended for an additional three months, from September 1, 2024, to November 30, 2024.
2. Extension of Concessionary Excise Tax Rates: The existing concessionary excise tax rates on these vehicles will also be extended for the same period, ensuring continued financial incentives for the adoption of environmentally friendly transportation options.

This initiative is part of the government's broader strategy to enhance environmental sustainability and reduce carbon emissions. The extensions aim to provide continued support to individuals and businesses investing in hybrid and sustainable fuel vehicles, thereby contributing to a greener and more sustainable Saint Lucia.

The Department of Infrastructure, Ports, and Energy can be contacted for more information