| The Ministry of Finance's
policy makes provision for the waiver of Import Duty and Excise Tax on
the purchase of agricultural vehicles subject to the following conditions: |
| -
Certification must be provided by the Ministry of Agriculture in respect
of the farmer requesting the concession; |
| -
The concession would be provided once every 7 years, but the vehicle may
be sold after the 5th year; |
| -
The vehicle must carry a special 'FAR' licence number on both sides (see
specimen); |
| -
Farmers requesting the concession must have a gross annual income from
farming of not less than $60,000.00; |
| -
Farmers requesting the concession must be involved in primary production; |
| -
Value added Tax must be paid on the transaction to acquire the vehicles; |
| -
Where the individual to whom the concession is granted is no longer in
agriculture before the end of the fifth year, the duties and taxes become
payable on the vehicle; |
| -
Part-time farmers may approach the Ministry of Finance to be considered
for the concession, however they must have at least ¼ acre under
production and be earning at least $60,000.00 per annum. |
| Application letters
must be accompanied by the following: |
| -
NIS clearance certificate; |
| -
proof of Vat registration; and |
| -
proof of ownership of the land, or |
| -
proof of permission to occupy the land for at least five years. |
| The decision of the
Minister of Finance is formally communicated to the applicant, the vehicle
dealer and the relevant Government Departments. |
|
CONDITIONS
|
| -
The vehicle cannot be sold or otherwise disposed of within five (5) years
of purchase unless the un-expired portion of duties and taxes are repaid
or else waived by the Minister responsible for Finance and Economic Affairs. |
| -
The farmer must remain in the business of agriculture for at least five
(5) years following the date of concession |
| -
A special 'FR' registration number (obtained from the Ministry of Agriculture)
must be affixed to both front doors of the vehicle ( see specimen) , and
presented to the Ministry of Agriculture for inspection . |
|
LIMITATION ON CONCESSION
|
| Applications for
duty free concession on agricultural vehicles shall only be considered
once every seven (7) years. |
