EDITOR, The Tribune.
All-inclusive pricing with VAT included is giving the impression of considerable retail price increase.
LISTEN to We, the people - everyone is screaming and I can understand the perception is that every item for sale has suddenly gone up almost a $1.00.
Why on earth does finance still insist that retail pricing must include VAT is beyond any sense – da people say no Mr Minister, no Mr Financial Secretary and no Mr Price Control.
No means what?
We don’t like this. Go back to retail on the shelf and we all know for every dollar spent we pay 75 cents VAT.
It is simple until some government persons gets into it.
By the way hope those who were current with Real Property since 2011 claimed their 5 per cent discount? You have it this year and 2015….those who refuse to pay please do so we can reduce VAT…you are the reason we have VAT.
I understand the public can go to the real Property Tax Office and with payment of $10.00 inspect anyone’s file - boy dat would be fun!
W THOMPSON
Nassau,
January 9, 2015.
Comments
Publius 9 years, 3 months ago
Actually, VAT is 7.5 cents on every dollar, not 75 cents - but who's counting right!
duppyVAT 9 years, 3 months ago
That is the what some businesses are charging .......... 75 cents on the dollar VAT
ohdrap4 9 years, 3 months ago
the greatest shortcoming of humanity is their inability to calculate percentages
i was overcharged 25 cents VAT, went back to the shop, got it back.
i was also charged vat on the punch twice, did not bother to go back for 10 cents, but, i called the establishments and told them there will not be a next time. they offered to refund me, but it takes more than 10 cents gas to get there.
do like me and buy from supervalue, if you have any problems, EJ BOWE and the reporters are outside salivating.
chairarranger 9 years, 3 months ago
Pricing items without the VAT shown doesn't make the items cheaper or more affordable. By contrast, a shelf price and individual item pricetag that states, for example:
Item: $10.00 + VAT: $0.75
Price: $10.75
...tells everybody everything they need to know.
Retailers who are interested in transparency already do this. And for consumers who mistakenly think the VAT rate is 75% (i.e. 75 cents for every dollar, as this letter writer suggests), pricetags like this will quickly wake them up to reality.
ohdrap4 9 years, 3 months ago
this is only for 2 months man after feb 28: ONLY VAT INCLUSIVE PRICES WILL BE ALLOWED.
chairarranger 9 years, 3 months ago
Incorrect, sorry. The Rules (refer p13 of The Bahamas VAT Guide Version 4: December 23, 2014) require prices to be shown VAT-inclusive. The Rules do not anywhere prohibit disclosure of the VAT component. This can be done - and is already being done - by retailers on pricetags like the one above, or in the most simplified form:
Price: $10.75 (includes VAT of $0.75)
This form of price labeling is not against the law.
TheMadHatter 9 years, 3 months ago
If Perry moves forward with this new loan from China he talked about last week, VAT is gonna be $2 on every $1. A $1 bottle of water will cost $3 total.
TheMadHatter
Sickened 9 years, 3 months ago
I wonder what piece of water front property the PM is handing over to China for this loan? Perhaps he'll give them the northern half of Andros?
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