The Government of Grenada has launched an exciting new incentive aimed at supporting investment and participation in the creative industry. The programme, which provides registered creative practitioners and organisations with 100 per cent concessions on Common External Tariff (CET) and Value Added Tax (VAT) for items considered “tools of trade”, came into effect on March 1, 2023.
Eligible for the concessions are:
• registered cultural and creative practitioners and businesses.
• registered retailers of ‘tools of trade’ directly used in the production of creative goods and services; and
• registered education and community organisations or programmes focused on delivering training in the creative and cultural industry.
To apply for the incentives, interested individuals and organisations must first register with the Grenada Office of Creative Affairs (GOCA) via their online application form. Once registered and approved, access to the online concession application will be provided via email with relevant instructions. The programme provides a significant opportunity for eligible creative practitioners and organisations to access the resources they need to thrive and contribute to the growth of the creative industry.
By supporting investment in this sector, the programme can help to drive economic growth, create jobs, and promote cultural development. According to the Minister of Economic Development and Planning, Lennox Andrews, “The Government of Grenada is committed to the development of the creative industry, and this incentive scheme is a testament to that commitment. We hope that by providing duty-free concessions, we can enable more businesses and organisations to participate in the creative industry and help to create a vibrant and thriving sector that contributes to our country’s economic and cultural development.”
To apply for the creative economy incentive scheme, visit the Grenada Office of Creative Affairs website to register and apply for concessions. For more information, please contact the Grenada Office of Creative Affairs at creativeaffairs@gov.gd or visit their website at https://creativeaffairs.gd