Restaurants (Temporary Customs Duty Relief) Amendment Act 2024

What this bill does

This bill extends a tax break program that helps restaurants import goods without paying customs duties. The program was set to end on March 31, 2024, but this bill extends it for another 5 years until March 31, 2029.

If passed (voted YES)

• Restaurants can continue importing qualifying goods without paying customs duties until March 2029
• Restaurant owners may have lower costs for importing equipment, supplies, or other qualifying items
• The tax relief program that supports the restaurant industry continues for 5 more years

If rejected (voted NO)

• The customs duty relief program would have expired on March 31, 2024
• Restaurants would need to pay full customs duties when importing qualifying goods
• Restaurant operating costs could increase due to higher import expenses

Who it affects

This bill primarily affects restaurant owners and operators in Bermuda who import goods for their businesses. It may also indirectly benefit restaurant customers if lower import costs help keep menu prices down.