MEMBERS OF the sports fraternity who were shocked at the news out of Parliament that sports goods that were previously zero-rated will attract General Consumption Tax (GCT) as of May 1 need not worry.
According to a tax guide displayed on the Jamaica Revenue Service official website, GCT will now apply to equipment specifically designed for basketball, boxing, cricket, football, hockey, netball, table tennis, track & field, volleyball and dominoes - all of which were previously exempted.
According to the Minister of Finance, Dr. Omar Davies, however, that will not be so - at least not in all cases.
"We have a problem with unscrupulous people and that is the problem. That is why we have to take sports goods off the list of zero-rated items."
The Minister said, however, that there will be a system to protect sports associations and genuine clubs and that the details will be provided before the Budget debate is over.
