The Government of Caribbean territory Saint Lucia has announced amendments to the Fiscal Incentives Act, to broaden the categories of business and services that may benefit from tax relief.
Prior to its amendment, the Act offered a range of incentives to manufacturing entities, including tax holidays up to a maximum of 15 years; waivers from import duties and consumption tax on imported plant machinery and equipment; and a waiver of import duties and consumption tax on imported raw materials and packaging.
Any manufacturer located in Saint Lucia could qualify for fiscal incentives if the enterprise manufactures an approved product (i.e. a product declared by order of Cabinet for manufacture by an approved enterprise).
Under recently enacted amendments, the categories of business and services that may benefit from the tax breaks listed the Fiscal Incentives Act has been broadened as follows:
- Accounting services
- Management consulting services
- Photographic services
- Architectural services
- Engineering services
- Integrated engineering services
- Printing and publishing services
- Veterinary services
- Medical and dental services
- Motion picture projection services
- Entertainment services
- Sporting and other recreational services
- Video tape production and distribution services
Information and communications technologies
- Telecommunication services
- Online information and/or data processing, including transaction processing
Healthcare and leisure
- Beauty and spa
- Physiotherapists and services provided by midwives, and paramedical personnel
- Medical laboratories