Ministry for Finance Grenada

SWEETENED BEVERAGES TAX

To view Value Added Tax (Amendment) (No. 2) SRO. 12 Regulations ... click here
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TAXES ON ALCOHOL AND CIGARETTES

Government acknowledges the impact of tobacco use on citizens’ health and has therefore increased the excise tax on cigarettes to reduce consumption.
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ENVIRONMENTAL LEVY (EVL) ON WATER USE

That the EVL collected on Electricity and Water goes directly to the Grenada Solid Waste Management Authority (GSWMA) to support their efforts to keep our environment clean and safe.
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ELECTRICITY SUBSIDY FOR HOUSEHOLDS AND OTHER RELIEF MEASURES TO LOWER ENERGY COSTS

The Government slashed the VAT rate on electricity consumption from 15% to 7.5% for all categories of consumers, where applicable.
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REINSTATEMENT OF PETROL TAX AT A REDUCED RATE

In September 2022 as prices remained above normal, Government sought to completely remove its EC$5.50 petrol tax on the price of gasoline and diesel.
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Payments must be made between January 1st to December 31st 2023 to qualify

MARKET ACCESS AND RURAL ENTERPRISE DEVELOPMENT PROGRAMME (MAREP)

GRENADA DISASTER RESILIENCE STRATEGY

GRENADA’S GROWTH AND POVERTY REDUCTION STRATEGY

REGIONAL GOVERNMENT SECURITIES MARKET (RGSM) PROPOSED SCHEDULE OF SECURITIES

PROJECTS

To effectively plan, generate, allocate and account for resources through the implementation of fiscal and economic policies and the facilitation of social and environmental policies in co-operation with other agencies thereby providing and enabling sustainable growth and development.
Efficient and effective delivery of finance and economic services to the national, regional and international communities, through strong leadership role in planning and management of the available resources.
The Minister of Finance, Planning, Economy, Energy, & Co-operatives exercises general control and direction. The administrative head of the Ministry is the Permanent Secretary. There is also two deputy Permanent Secretary.

The Ministry is divided into the following departments:
1. Administration
2. Accountant General’s Division
3. Inland Revenue Division
4. Division of Customs and Excise
5. Central Statistics Office
6. Government Printery
7. Budget Unit
8. Debt Unit
9. Policy Unit
10. Project Coordination Unit
11. Public Procurement Unit
12. Physical Development Unit
13. Trade Unit
14. Basic Needs Trust Fund (BNTF)
15. Economic and Technical Cooperation
16. Market Access and Rural Enterprise Development Programme (MAREP)
A Department Head, who reports directly to the Permanent Secretary, manages each department.
The Ministry of Finance, in pursuit of its mission, has a wide mandate with responsibility for:
1. Economic planning
2. Budgeting
3. Debt management
4. Economic policy formation
5. Resource mobilization
6. Cash management
7. Tax administration
8. Supporting decision-making processes in the public and private sectors

TWICE MONTHLY SALARY PAYMENT - FREQUENTLY ASKED QUESTIONS

Effective April 15, 2023, the Government of Grenada will commence payment of personal emoluments and pensions to Government workers and pensioners twice per month.

This Memorandum is being prepared in fulfilment of Section 10 (1) of the Fiscal Responsibility Act 2015 as amended (FRA), to give effect to the suspension of the fiscal rules and targets under Sections 7 & 8 of the FRA for the fiscal year 2022.

EASTERN CARIBBEAN CURRENCY UNION (ECCU) FUEL PRICES

In February 2023, consumers in the ECCU paid an average of EC$15.51 per gallon of gasoline.In February 2023, consumers in the ECCU paid an average of EC$16.27 per gallon of diesel.