Gov’t to Remove GCT on Armour Cash Courier Operations

The government is set to remove general consumption tax, GCT, on the financial operations of the country’s armoured cash courier industry.

This was disclosed by finance minister, Dr. Nigel Clarke, during his opening Budget Presentation on Tuesday.

According to Dr. Clarke, the frequent gun attacks and robbery attempts on armoured cash courier vehicles last year have negatively impacted the industry and exposed weaknesses.

He noted that the estimated revenue losses associated with the customs duty reduction is $50 million.

Dr. Nigel Clarke, Minister of Finance and the Public Service.