Search results for : grocers
October 23, 2014
Bahamas Government to be flexible about pricing display during onset of VAT
The Ministry of Finance announced there will be some leniency with pricing display during the early days of the VAT...
VAT pricing deadline pushed back
October 01, 2014
VAT pricing deadline pushed back
The Ministry of Finance has announced that retailers will have until February 28 to update their pricing displays for individual items with value-added tax (VAT)-inclusive pricing.
Financial Secretary John Rolle revealed the leniency measure in a press release issued earlier this week, stating that the ministry adjusted the policy in response to concerns from local retailers.
"We recognize that ma...
September 18, 2014
Government can't solve retailers' price-control concerns 'right now'
Minister of State for Finance Michael Halkitis says retailers' concerns regarding the country's price control policies are not an issue that the government can "solve right now".
Meanwhile, he acknowledged that the government could expand its consumer protection policies even further.
"That's an issue that we can look at, but I don't think we can solve it right now... We've made a commitment when ...
Govt seeks 'middle ground' to avoid store shutdowns
September 02, 2014
Govt seeks 'middle ground' to avoid store shutdowns
A Ministry of Finance official has reaffirmed that the ministry is actively seeking a "middle ground" between the government and retail grocers to avoid potential store shutdowns in the weeks leading up to, or after, the introduction of value-added tax (VAT).
Speaking on Guardian Radio's "Let's Talk Live" with Carlton Smith, Financial Secretary John Rolle confirmed that while there would be no VAT...
September 02, 2014
Financial secretary confident of VAT education campaign's success
Financial Secretary in the Ministry of Finance John Rolle said he expects the public to be sufficiently educated on value-added tax (VAT) by January.
Rolle's comments came after the ministry released a lengthy compendium of VAT guidelines for businesses.
"The education for the average businessperson is understanding what applies inside their business," he said.
"That's where we start off with the ...
August 31, 2014
Grocery retailers could 'shut down' to prepare for VAT
Plans for local food stores to temporarily shut down operations in the days leading up to, or after, value-added tax (VAT) implementation are "not off the table", according to the president of the Retailer Grocers Association (RGA).
RGA President Philip Beneby confirmed to Guardian Business that several major retail grocers are considering temporarily closing stores due to the lack of a VAT "grace...
AML Foods: Price control costing 20k a month
April 30, 2014
AML Foods: Price control costing 20k a month
Satisfied with a significant turnaround in its financial results in the fourth quarter, AML Foods will soon launch its $1.5 million Carl's Jr. franchise after hiring 65 people, a move revolving around a strategy of minimizing its reliance on price-controlled food items as a portion of its overall sales given costs of $20,000 a week for the company from "subsidizing" the sale of these loss-making g...
April 28, 2014
'Exponential' business costs increase from VAT exemptions
Putting forward a position that supports the view of major grocery retailers in the country, John Shewan and Don Brash, value-added tax (VAT) consultants from New Zealand, have come out strongly against exempting breadbasket food items from VAT, suggesting it could increase compliance costs "exponentially".
Supporting the position of members of the Retail Grocers Association, who have expressed ma...
Barbados Chamber: VAT good for business
February 24, 2014
Barbados Chamber: VAT good for business
BARBADOS - Admitting that prior to its implementation value-added tax (VAT) was the "800-pound gorilla in the room", the head of the Barbados Chamber of Commerce and Industry (BCCI) said he believes VAT has in the 17 years since its implementation been "good for the economy, and good for business".
Lalu Vaswani, president of the BCCI and Satjay Enterprises in Bridgetown, Barbados, suggested that f...
Barbados Chamber: VAT good for business
February 24, 2014
Barbados Chamber: VAT good for business
BARBADOS - Admitting that prior to its implementation value-added tax (VAT) was the "800-pound gorilla in the room", the head of the Barbados Chamber of Commerce and Industry (BCCI) said he believes VAT ...
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