30th June 2020, 19:49
The Chamber of Commerce and the Federation of Small Businesses have today been informed of changes to Import Duty over the next quarter.
Over the past three months, all duties, other than in certain key areas, were reduced to zero.
The Commercial Import Duty waiver is set to continue but a 10% duty on personal imports is introduced.
The Chief Minister says these measures, together with the ones announced last week are designed to, primarily provide financial support to businesses as they return to work in this difficult climate, and secondly, to stimulate and accelerate economic activity.
The Government says Businesses can now predict with some certainty their reduced outgoings over the coming months, which will be good for businesses.
With effect from midnight tonight, the Import duty waiver will continue for the entirety of the 3rd quarter for all commercial imports, except fuel, building materials, alcohol, tobacco and disposable single use plastic products where there is a higher duty regime is in place.
However, in order to support the ‘BUY LOCAL’ campaign there's a new Import Duty at a flat rate of 10% on ALL personal imports.
This duty will be levied on all importations through the land frontier, the Commercial Gate and the airport, as well as all online purchases delivered to Gibraltar by courier or by the Post Office.
Traders will not have to pay this duty, and are expected to pass the benefit onto consumers to ensure the measure increases sales and stimulates economic activity in Gibraltar.
The 10% personal duty does not apply to any foodstuffs.
As a result of these new measures Customs will be actively checking vehicles and persons entering Gibraltar. People are reminded that they should declare their dutiable goods to HM Customs Officers as they cross the border, with the Government saying this is not a voluntary duty but something that will be strictly enforced.
The Government is liaising with the Collector of Customs to facilitate the process of customs clearance to ensure people are able to efficiently and quickly pass through Customs when declaring imports.
Import duty on vehicles remains at zero for vehicles for the month of July.