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Jamaica government plans to remove tax from RE equipment

Energy minister. Phillip Paulwell- Photo.
Energy minister. Phillip Paulwell- Photo.

Phillip Paulwell, energy minister says the government will be looking to earnings from carbon credits, to replace some of the revenue lost through the planned removal of the general consumption tax on electricity.

In basic carbon credit trading, countries whose carbon emissions fall below a set allowance can sell the difference, in the form of credits, to other countries that exceed their limits.

Paulwell said the trade in carbon credits is now big business.

Yesterday, Paulwell reiterated the People’s National Party government’s commitment to the removal of the GCT from electricity.

He said tax would also be removed from renewable energy equipment and computers.

Category/ies:Jamaica News.
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