Grenada Broadcasting Network

2nd December 2022

  

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Several senators have raised concerns with the exemptions being given to service stations, through amendments to the annual stamp tax act.

Proposed amendments, already greenlighted by the lower house, are designed to give relief to dealers who would then ensure necessary upgrades are being made within their business.

Senator Kerryne James was the first to express concerns that the exemption on licensed petrol service stations from paying annual stamp tax on the petrol component of sales is only benefiting a handful of individuals.

According to Senator James, in a rough estimation done, government stands to lose just under five million dollars annually by exempting annual stamp tax on petrol components.

James is also advocating for a reduction in petrol tax so that ordinary citizens can benefit.

Labour senator Andre Lewis says while he understands the reasoning for the exemption, he too wants more Grenadians to benefit.

Private sector senator Chris De Allie meanwhile says their stance on stamp tax remains unchanged: eliminate the tax altogether because of its regressive nature.

However, he supports the amendment being currently made as it relates to the exemption.

Senator De Allie impresses that any tax relief assists the survival of the business.

He noted also that the biggest concern is the safety in which gas stations operate.

Leader of government business in the senate, Senator Simon Stiell says the exemption seeks to address broader issues of job safety and occupational safety, which would not be addressed by a decrease in Petrol Tax as suggested.

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