* Blames ‘inclusive’ switch for 10% sales fall * Plans to ‘go back at Gov’t’ over issue * ‘We don’t have to be contrary to world’
SUPER Value’s owner yesterday said will appeal to government for permission to revert to Value Added Tax (VAT) ‘exclusive’ pricing, blaming the switch for this year’s 10 per cent sales decline. Rupert Roberts, while likely reigniting the ‘inclusive’ versus ‘exclusive’ VAT pricing debate, told Tribune Business that Super Value’s 2017 top-line had seen a marked decline in comparison to the two years prior, during which time the food store chain had used VAT ‘exclusive’ pricing.
BAHAMIAN retailers yesterday said sales have began to pick-up in the week prior to Christmas, amid anticipation of a “very busy weekend”. “The response to our retail Christmas offer has been outstanding. We are so thankful to our subscribers for their continued support of us, and we are looking forward to closing out the season with a bang,” Aliv’s chief business developer, Gravette Brown, told Tribune Business.
THE Commercial Enterprises Bill’s $250,000 investment threshold should have been “a bit higher”, a University of the Bahamas economist argued yestrerday. Rupert Pinder, addressing the Rotary Club of West Nassau, said the $250,000 benchmark for foreign companies applying under the Bill did not match the level of incentives being granted.
A University of the Bahamas economist yesterday backed government spending cuts on the grounds there has been “a great deal of wastage”. Rupert Pinder, addressing a Rotary Club of West Nassau luncheon, said: “We cannot overemphasise the importance of economic growth. You can cut spending until the cows come home, but what is really going to put this economy on a strong footing is growth. I am a proponent for cuts in public spending because I think there has been a great deal of wastage.
THE Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive yesterday urged businesses and consumers to be “vigilant” and “take every precaution” to avoid becoming victims of crime this Christmas season. Edison Sumner expressed concern over the “startling” increase in cyber crime and credit card fraud.
THE Prime Minister yesterday said the Bahamas has “no time to rest on our laurels”, given the European Union’s (EU) concerns over the absence of corporate income taxation. Dr Hubert Minnis told the House of Assembly that the EU’s Code of Conduct group had written to the Government expressing concerns that this nation’s tax system did not comply with its ‘blacklisting’ criteria.
BAHAMIAN fishermen are hoping to “make up” for a rough 2017 with a better crawfish harvest before the season closes, the Bahamas Commercial Fishers Alliance’s (BCFA) president said yesterday.
A CABINET minister yesterday said he has committed to a “sit down” with mail boat operators after Christmas to address “in earnest” industry concerns.
BAHAMIAN retailers yesterday said they have fallen victim to the “showroom effect” with consumers using them as ‘fitting rooms’ before purchasing online.
A union leader yesterday said employers are ignoring the legally-stipulated 45-day period in which to begin negotiations, leaving organised labour with no choice but to resort to industrial action.