EDITOR, The Tribune.
The way that I’m interpreting, and maybe wrongly so, the Pushing Da Envelope cartoon in today’s Tribune is that the business is going to bear the brunt of VAT where, in fact, the consumer will reimburse the business for the VAT they paid once the consumer purchases the product.
The reason I think it is important to point this out is that a lot of our Bahamians are of the feeling that VAT is a business and not a consumer problem.
It is both a business and a consumer problem, but for different reasons. It is a consumer problem because the prices of the vast majority of products in the Bahamas will increase and a business problem because of the resulting stagnation of the economy as a result of higher prices in both the retail and service industries.
If my interpretation is correct, I sincerely hope that you would consider some form of retraction as I feel that it’s extremely important that our people truly understand the effects of VAT.
CONCERNED CONSUMER
Nassau,
January 28, 2014.
Comments
ohdrap4 10 years, 2 months ago
Excellent points.
Lest we forget, except for price controled items, the merchant can markup on VAT, getting a rebate when the product is sold. The govt collects 15% on this mark up. the consumer is screwed thrice.
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