Minister of Finance Camilo Gonsalves in his budget presentation on Monday 5th February said stay over visitors will now pay an 8.00 dollars climate resilience levy.
He said this will be paid by those who occupy hotels, apartments, and short term rentals, revenue from this measure will result in an additional 1.7 Million dollars in 2018.
Gonsalves said in last years budget a contingency fund was established and a levy on consumption was imposed by increasing the vat rate by 1 percent to provide a dedicated source of revenue to capitalised such.
He said over 8 months of operation in 2017 the levy capitalised the fund to the tune of 6.57 Million dollars.
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Gonsalves said the IMF has praised the establishment of the fund, but urge the government to seek out additional means to increase the inflows, giving the weather-related vulnerabilities face by the country.
The levy will take effect on May 1st, 2018.