From January 1, taxes on all components in CCTV systems, including cameras and DVRs imported separately, has been waived.
In a release on Friday, the Finance Ministry said Minister Colm Imbert had announced a waiver of customs duty, online purchase tax and value added tax on CCTV cameras and DVRs used in CCTV systems, as stand-alone items.
“Previously, the tax waiver on CCTV equipment was limited to complete CCTV system packages, and not individual items. This measure now makes it possible for all components in a CCTV system, such as cameras and DVRs, to be free of tax, whether combined in a system or imported as individual components.
“The measure is expected to bring monetary ease to individuals or businesses investing in the components for these systems and to assist citizens who wish to invest in their own surveillance systems, both at home or at the office/workplace.”
In November, last year, the Prime Minister said the tax break is aimed at helping homeowners and businessowners install security cameras as a measure to combat crime.