BVI News

Gov’t to ease tax on building materials

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As the territory prepares to start rebuilding after a category-5 hurricane, Irma, wreaked havoc on its islands last week, plans are being put in place to lessen taxes on construction materials.

This is according to a media release issued by Premier Dr D Orlando Smith.

“Premier Smith has indicated that his government will be looking to provide some ease on taxes to local building and construction material suppliers on imports for the rebuilding process to support property owners as we rebuild our communities,” the release said.

It did not specify how significant the tax break will be.

Meanwhile, Hurricane Irma caused widespread destruction to several properties in the British Virgin Islands including to homes, businesses and structures such as utility poles. The greatest damage is said to have happened on the territory’s largest and most commercialized islands – Tortola and Virgin Gorda.

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