Cayman Islands Increases Import Duties on Cigarettes and Alcohol
Above: Georgetown (CJ Photo)
By the Caribbean Journal staff
The Cayman Islands has introduced increased import duties on cigarettes and alcohol as part of the territory’s new revenue measures for the 2012/2013 fiscal year, the office of Cayman Premier McKeeva Bush announced Friday.
The changes mean the import duty rate on cigarettes will increase to approximately $256 USD per 1,000 cigarettes, while the the import duty on alcohol will increase by approximately $.036 USD per liter for all alcohol, including ale, beer, wines, champagne and spirits.
The government also announced a $125 inspection fee on all cargo containers and a fee of $2.50 per 100lbs of all loose cargo and packages.
The measures will go into effect Sept. 17.