300 items escape NSRL

THE CONTROVERSIAL National Social Responsibility Levy (NSRL) goes ahead as planned on July 1, but about 300 basic food and other items will be shielded from the 400 per cent NSRL increase.

This is the main concession that the Freundel Stuart administration is expected to make when Cabinet meets today to give final approval to the measure promised to the private sector.

The 300 items are currently found in the basket of goods that do not attract value added tax (VAT).

The development was announced yesterday following meetings the minister held with officials of the Barbados Private Sector Association, Barbados Chamber of Commerce & Industry (BCCI), Barbados Bankers’ Association, Barbados International Business Association and the Barbados Hotel and Tourism Association (BHTA) over the past two days. (GE)

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