List of items no longer zero-rated for VAT

[Rory Phoulorie]

http://www.ctntworld.com/cnews2/index.php?option=com_content&view=article&id=18296:gov-t-to-consider-more-vat-exemptions&catid=137:c-news&Itemid=707


iz kamla fault

Damn right. Them was a bunch of old crooks that thief out the whole country and give we ah set ah substandard thing in return to fool we up.

[TriniAutoMart]

A case of water was $22.99 and from this month I see the price went up to $25.99 as of this month.
An increase of 13.05%
Isn't VAT 12.5%?

I'm not sure if I am allowed to call the name of the establishment here.

[Habit7]

Zero-rated Florida Natural Orange Juice in Pricesmart was $49, now it is $58. Increased by 18%

[88sins]

keep in mind fellas, business places are free to increase their prices, regardless of a reduction in the rate of VAT

[Gladiator]

keep in mind fellas, business places are free to increase their prices, regardless of a reduction in the rate of VAT

Them schemers increase every single thing in the grocery. Some as much as 30% Items that had 15% vat to begin with now gone up when it supposed to go down by 2.5%.

they take full advantage of the opportunity to raise prices across the board...

[De Dragon]

Pay yuh VAT and hush yuh kant!

[teems1]

keep in mind fellas, business places are free to increase their prices, regardless of a reduction in the rate of VAT

Yes and No

If the Supermarket Association of Trinidad and Tobago have a meeting behind closed doors where they all agree to raise prices across the board, that's oligopoly collusion which is illegal.

[1UZFE]

Zero-rated Florida Natural Orange Juice in Pricesmart was $49, now it is $58. Increased by 18%

#welikeitso

[Rory Phoulorie]

Buy local.

I swear, the way most of you crying like little girls with the current fiscal measures, you all would have died under the NAR's reign.

[pugboy]

lol, even in Miami they don't drink that Florida's orange juice
so what is the big deal ?
somebody holding a gun to make people drink it ?

[88sins]

keep in mind fellas, business places are free to increase their prices, regardless of a reduction in the rate of VAT

Yes and No

If the Supermarket Association of Trinidad and Tobago have a meeting behind closed doors where they all agree to raise prices across the board, that's oligopoly collusion which is illegal.

boi u really feel any supermarket ass sociation could do a damn thing to stop a supermarket owner from increasing the prices he sells his stock for?

In case yuh didnt know, grocers in T&T go by classic supply & demand pricing strategy. If a specific item is selling a lot and quickly, they buy more stock to capitalize on a slightly bigger discount from the manufacturer, & then over a week or two raise the price till sales of the item slow down. The smart ones often then reduce the price to reflect the last price increase before the demand dtopped off.

I have seen this trend in more than a couple supermarkets in trinidad over the yrs. Unscrupulous? Yeah. Illegal? Nope. And thats all most of them concerned about.

[EFFECTIC DESIGNS]

The best part is most of these business places never reduced the price of the item when Kamla removed Vat in the first place so not only did they pocket that 15% but now they getting a 12 to 25% bonus increase

[rollingstock]

I think you missed teems point.

[ingalook]

The best part is most of these business places never reduced the price of the item when Kamla removed Vat in the first place so not only did they pocket that 15% but now they getting a 12 to 25% bonus increase

The PNM knew this was going to happen - They new that any change to the VAT status quo benefits retailers (DOMA etc) and never benefits consumers in Trinidad - but they did it anyway - and many of you fools supported it saying "we all have to chip in..."

Chip in to do what? Transfer 1.5 billion a year from the treasury to retailers??? fcuk you guys - fcuk you guys in your stupid arses with a giant spiky dildo!

[Habit7]

lol, even in Miami they don't drink that Florida's orange juice
so what is the big deal ?
somebody holding a gun to make people drink it ?

Who is "they" that don't drink Florida Natural, yuh family abroad?

I don't drink it either (I'm training, no sugary drinks) but I was just an example of retailers and wholesalers taking the opportunity to raise prices across the board. Much of it also has to do with depreciation of the TTD against the USD. We are in for a rough time.

And for the UNC supporters who living a dreamland and thinking that if Kamla was there this would not have happen, hold this http://www.guardian.co.tt/business-guar ... five-years

[ingalook]

lol, even in Miami they don't drink that Florida's orange juice
so what is the big deal ?
somebody holding a gun to make people drink it ?

Who is "they" that don't drink Florida Natural, yuh family abroad?

I don't drink it either (I'm training, no sugary drinks) but I was just an example of retailers and wholesalers taking the opportunity to raise prices across the board. Much of it also has to do with depreciation of the TTD against the USD. We are in for a rough time.

And for the UNC supporters who living a dreamland and thinking that if Kamla was there this would not have happen, hold this http://www.guardian.co.tt/business-guar ... five-years

That was during a boom cacahole - yuh dumn scunt cyar understand their is a difference?

You using 34% over 5 years to justify a 20% increase in food prices in a single month IN A MUDDASCUNT RECESSION!

[Habit7]

Actually it was more than 34% because prices fell with the removal of VAT and wholesalers and retailers ate it back up http://www.guardian.co.tt/news/2013-06- ... food-flops

It is probably better we get the shock now and let competitiveness drive down the prices because as people spend less, retailers will have to compete for the smaller market share.

The PNM knew this was going to happen - They new that any change to the VAT status quo benefits retailers (DOMA etc) and never benefits consumers in Trinidad - but they did it anyway - and many of you fools supported it saying "we all have to chip in..."

Chip in to do what? Transfer 1.5 billion a year from the treasury to retailers??? fcuk you guys - fcuk you guys in your stupid arses with a giant spiky dildo!

And how does the PNM increasing Green Fund contribution and Business Levy by 300% going to help these unscrupulous retailers like DOMA? Raise prices too high to compensate and they will price themselves out of the market. Seems to me everybody has to "chip in."

[ingalook]

Actually it was more than 34% because prices fell with the removal of VAT and wholesalers and retailers ate it back up http://www.guardian.co.tt/news/2013-06- ... food-flops

So lets drop VAT again and see how that works out for the country

It is probably better we get the shock now and let competitiveness drive down the prices because as people spend less, retailers will have to compete for the smaller market share.


Because in a recession is always better to get consumers to spend less

The PNM knew this was going to happen - They new that any change to the VAT status quo benefits retailers (DOMA etc) and never benefits consumers in Trinidad - but they did it anyway - and many of you fools supported it saying "we all have to chip in..."

Chip in to do what? Transfer 1.5 billion a year from the treasury to retailers??? fcuk you guys - fcuk you guys in your stupid arses with a giant spiky dildo!

And how does the PNM increasing Green Fund contribution and Business Levy by 300% going to help these unscrupulous retailers like DOMA? Raise prices too high to compensate and they will price themselves out of the market. Seems to me everybody has to "chip in."

0.1% to 0.3% of profit? After increasing their profit margin by a cool 15-20% ? Yes please Imbert - please give us moar of this!

[EFFECTIC DESIGNS]

The best part is most of these business places never reduced the price of the item when Kamla removed Vat in the first place so not only did they pocket that 15% but now they getting a 12 to 25% bonus increase

The PNM knew this was going to happen - They new that any change to the VAT status quo benefits retailers (DOMA etc) and never benefits consumers in Trinidad - but they did it anyway - and many of you fools supported it saying "we all have to chip in..."

Chip in to do what? Transfer 1.5 billion a year from the treasury to retailers??? fcuk you guys - fcuk you guys in your stupid arses with a giant spiky dildo!

Imagine people expecting prices to go up by 12.5% today but get 25% in they cacahole. But it doh affect me, me eh have no chirren to mine I is ah happy man.

Just imagine these groceries, mini marts, suppliers and whatever. Them NEVER reduced the price of the goods when Kamla remove the 15% Vat. The bill was the same but the word vat was removed, now they acting like they somehow have the right to raise sheit by 25%

So Kamla cost the country hundreds of millions of dollars by removing Vat since clearly this never affected the consumer. And here we have Rowley who put back Vat only to have these people raise the price not just by 12.5% but 25%. Just look at that huge ass increase in no time? ROFL

This is like a 1 megawatt Fan hitting a ravine full of sheit water and everyone is in its path.

[INHUMAN]

Imbert u scunt! Rip marinas...foreign currency...tourism. $$$ for his head jus now..wait!

[EFFECTIC DESIGNS]

Imagine thing like Coffee gone up from $15 to $19? HAHAHA

I ask a grocery owner today what taking place whats with the 20 to 30% increase? he say the prices will increase again after Carnival so to ease the pressure they raising prices as high as possible one time so people can get accustomed to it otherwise people will complain and make a fuss every few months. So they are raising prices for the whole year one time.

[Habit7]

So lets drop VAT again and see how that works out for the country

Because in a recession is always better to get consumers to spend less

0.1% to 0.3% of profit? After increasing their profit margin by ia cool 15-20% ? Yes please Imbert - please give us moar of this!

Zero rating goods doesn't lower food prices, it deprives the govt of revenue.

High prices or not consumers spend less, however with lost revenues from oil and gas, taxation is the most immediate remedy. This is being done by the gulf states and Norway, the oil economy not doing this is Venezuela. You want us to follow the Vene Model?

It seems that you don't get this biz levy and green fund thing. Here is an illustration:


So I say again, everybody has to chip in.

[matix]

White oak gone up by $4. I hope bayrum ain't gone up.

[INHUMAN]

Lanate, gramoxone, rope, cutlass and gun prices still d same.... ??:

[ingalook]

So lets drop VAT again and see how that works out for the country

Because in a recession is always better to get consumers to spend less

0.1% to 0.3% of profit? After increasing their profit margin by ia cool 15-20% ? Yes please Imbert - please give us moar of this!

Zero rating goods doesn't lower food prices, it deprives the govt of revenue.

High prices or not consumers spend less, however with lost revenues from oil and gas, taxation is the most immediate remedy. This is being done by the gulf states and Norway, the oil economy not doing this is Venezuela. You want us to follow the Vene Model?

It seems that you don't get this biz levy and green fund thing. Here is an illustration:


So I say again, everybody has to chip in.

You is a special kinda duncy-head boy

In that video to show how businesses "chipping in" they used the example of a business making 100mil in revenue with a 2mil profit.... WHICH FACKING BUSINESS MAKING 100MIL REVENUE AND ONLY TURNING A 2% PROFIT?

Business typically make 10-30% profit... so you making $10-30mil profit and you sad cause you have to pay $0.9mil to the government??? BOO FLICKIN HOO!

However government have increased the REVENUE of these retailers by 2.5% (at least)

So you taking an extra $0.6mil in taxes but I making an extra $2.5mil in profit??? Where do I sign????

[pugboy]

Don't forget central bank mandate for usd to reach $7.20

[Habit7]

ingalook you know not of which you speak.

[Redman]

WHICH FACKING BUSINESS MAKING 100MIL REVENUE AND ONLY TURNING A 2% PROFIT?

Gas Stations without C Stores.

just saying.

you carry on with your rant.

[Dizzy28]

It would seem prudent for any administration in this country to go after the "big" boys when it comes to taxation. By this I mean having a robust tax collection agency that can and will go after the businesses in this country for the proper Corporation Taxes and VAT in particular.
Having worked for a series of small to medium seized private entities when I first left school I can tell you one thing - they all lie and cheat on their taxes with tremendous assistance from their accountants.
Major things they did and I am sure a lot of private enterprises in Trinidad do are -
1. They all include personal expenses within their corporate expenses thereby lowering the corporation taxes due as well limiting their own personal taxable income
2. They purchase cars for their kids, wives, themselves claiming the VAT off at purchase however not assigning Benefits in Kind to be paid as PAYE
3. The kicker IMO is that these business owners running companies with turnover in the millions but their monthly salary was $2,000 per month (this is the days when the personal income tax allowance was $25,000 per year). These days company owners have a salary of $5,000/month to go up from this year to $6,000/month

Not seen in the companies I worked for but it exists none the less - How the fack a Range Rover can be licensed as T vehicle? I know it is a van but logically no one will really expect that it will be used in the course of transport for business purposes. However we see T plate luxury vehicles all the time as a means of escaping paying due taxes.

When the former head of the local accounting body could go before a tribunal and admit cooking the books in the biggest financial scandal to hit this country and still be a practicing accountant today you know the big boys going to continue thieving the tax man whilst the small man (salaried individuals) will continue to be burdened inordinately.

[Redman]

[b]When the former head of the local accounting body could go before a tribunal and admit cooking the books in the biggest financial scandal to hit this country and still be a practicing accountant today you know the big boys going to continue thieving the tax man whilst the small man (salaried individuals) will continue to be burdened inordinately.[/b]

This...