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Tax Reform On Chamber Agenda List For 2018

By NATARIO McKENZIE

Tribune Business Reporter

TAX reform will be a part of the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) advocacy agenda in 2018, its chief executive says.

Edison Sumner told Tribune Business the private sector body would reach out to the retail sector to obtain their concerns, following the disquiet expressed by Super Value owner, Rupert Roberts, over Value Added Tax (VAT) ‘inclusive’ pricing.

Mr Roberts told Tribune Business he will appeal to the Government for permission to revert to VAT ‘exclusive’ pricing, blaming the switch for this year’s 10 per cent sales decline.

Mr Sumner said: “The issue of exclusive pricing was something that was on the table for discussion at the beginning of the VAT debate, and the launch of VAT back in 2015. We haven’t had much opportunity since that time to have a discussion about inclusive and exclusive pricing. “It was something done to cause all merchants to have items on their shelves display VAT inclusive pricing. I think we will speak with Mr Roberts and others again, particularly the larger retailers in the retail sector, to see what their concerns are and how we can best address those through the Government channels.” Mr Sumner added: “One of the issues on our agenda for 2018 is tax reform, and that can be a part of the discussion. We want to look at the whole issue of tax reform, and that includes the entire taxation system in the country. We have a number of items in our advocacy agenda, and we are going to be looking at these in earnest in the new year.”

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