VAT-free fuel for fishermen

Fishermen will continue to be exempt from paying VAT on diesel used for fishing trips under a two-year agreement signed with the Resources Ministry. This will increase the fishermen’s cash flow and reduce the red tape linked to the VAT refund scheme,...

Fishermen will continue to be exempt from paying VAT on diesel used for fishing trips under a two-year agreement signed with the Resources Ministry.

This will increase the fishermen’s cash flow and reduce the red tape linked to the VAT refund scheme, the ministry said in a statement.

The agreement was signed with the Fishermen’s Cooperative but will only come into force when the other association, the National Fishing Cooperative, signs up too.

In this case consultation was held with the Finance Ministry and the VAT and Customs departments.

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