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In October 2014, Cabinet agreed that the concessions would be granted this Christmas season and approved the transmission of appropriate legal instrument to Parliament, to allow the waiver of VAT.
On Tuesday, November 18, 2014, Prime Minister and Minister for Finance, Hon. Dr. Kenny D. Anthony presented a resolution to Parliament, seeking an amendment to the VAT Act, to allow for the waiver of the tax.
The Prime Minister also announced the terms and conditions of the concessions. They are:
1. 100% Waiver of Import Duty on personal items, food, clothing, toys and other household consumables, contained in barrels imported between December 1, 2014 and February 15, 2015. Electronic items are explicitly excluded;
2. The number of barrels that would qualify for the concessions would be limited to two per household;
3. There would be an upper limit of EC $2,500.00 per barrel on the value of items qualifying for the concessions;
4. The items identified in one (1) above must be for personal use only, and not for commercial use; and
5. The usual penalties, fines, etc. would be applied if the goods are used for commercial purposes.