The Minister of Finance and Planning, Dr. the Honourable Peter Phillips, in his budget presentation onThursday, May 24, 2012, announced that effective Friday, June 1, 2012, the GCT rate will be reducedfrom 17.5% to 16.5% and several items on the General Consumption Tax (GCT) exempt/zero-rated listwill now attract GCT at the new rate of 16.5%.Among the items removed from the General Consumption Tax (GCT) exempt/zero-rated list is rawfoods. Raw foods as outlined in the GCT Tax Act, 1991, Third Schedule Part 1 Item 6A is defined as:

• All Fresh fruits and vegetables (inclusive of green and ripe Bananas and Plantains)
•  All Ground Provisions (eg. Yam, dasheen, potatoes, etc)
•  All Legumes (Peas, Beans, etc.)
• Onions
• Garlic
•  All meats (except Chicken)
• All Fish, Crustacean or Mollusc

PLEASE NOTE:
Under the GCT Act, only registered GCT taxpayers with total sales of $3M or more are authorized to
collect GCT. The law also requires that such entities collecting GCT must prominently display their GCT
Certificate. GCT on raw foods are not applicable in markets.

Persons collecting GCT without authorization should be reported, immediately, to the Tax
Administration through the Help Line: 1-888-TAX-HELP (1-888-829-4357).