To help further stimulate the economy, The Finance and Economic Development Ministry has extended the following duty concessions for Cayman Brac and Little Cayman:
- - For the next 6 months, Cayman Brac will continue to receive a 12.5 cents/gallon gasoline duty rate vs. the normal 75 cents/gallon rate.
- - On Cayman Brac and Little Cayman, the 100% import duty waiver on building materials will remain in effect. Normal duty on building materials range from 17-22%. Building materials are defined as “all physical components and substances, whether solid or liquid, used in the construction, renovation or restoration and forming a permanent part of any building or related structure.” This does not include furniture, accessories, electronics and appliances.
The 15% duty rate on imported building materials to Grand Cayman has also been extended to year end.