As announced by the Minister with responsibility for Information Senator Sandrea Falconer, Jamaica’s custom duty and user fee, environment levy and General Consumption Tax (GCT) on yachts registered in Jamaica will be replaced by a single annual fee, as approved by the Cabinet. The announcement has taken place on the 19th December at the weekly Jamaica House press briefing at the Office of the Prime Minister in Kingston.
For the first two years after being landed, yachts under 25ft in length are not required to pay registration or safety inspection fees. An introduction of a cruising permit fee has also been approved by the cabinet, under the shipping Act. This is required to be paid by visiting foreign-registered yachts.
The minister said that this decision has been made to stimulate the local maritime tourism and yacht registration in Jamaica, as out of the thousand yacht berthed in Jamaica only about eight percent are registered under the Jamaican flag.
