During the Prime Minister Gonsalves 2023 Independence Address, he announced that “the government will, as of January 1, 2024, provide a one-time duty reduction for new tyres for all motor vehicles.
Between January 1, 2024 and June 30, 2024, all new tyres imported into Saint Vincent and the Grenadines will enjoy a duty reduction of 50 percent.
Before this measure, motorcycle and industrial vehicle tyres attracted a 5 percent duty, tyres for buses and lorries were charged 15 percent, and motor car tyres 25 percent.
As indicated, these duties will all be halved for the first six months of 2024. After receiving reports from multiple sources concerning the low quality of some of the used tyres on the market, we hope that this measure will incentivise an investment in safer, longer-lasting tyres, that are better-suited to our curvy, mountainous and often rain-slicked roads.
We also remind those in the business of road transportation – from car rental agencies to taxis to minibuses – of their legal responsibilities to their customers regarding the safety and roadworthiness of their vehicles.
