Getting ready for Reduced VAT

(ZIZ News) — With less than 24 hours before the first of the reduced Value Added Tax [VAT] days for 2014, local businesses are preparing for the expected increased business and adding on savings of their own.

Marketing Manager for S.L. Horsfords and Company Ltd, Wallis Wilkin said last year they were overwhelmed by the number of shoppers but this year they are more prepared.

“We’re hoping that even if we are overwhelmed, that we’ll be able to handle it this year so we’ve put certain things in place. And of course in addition to the VAT discounts, we’re also gonna be giving our own discounts. At the Building Centre, we’re gonna be giving an additional 30 percent off, so too at the Furniture and Appliances (store). And of course at the Valu-Mart Supermarket we always have discounts,” Wilkin explained.

CEO of TDC Group of Companies, Earle Kelly said offering big discounts at Christmas is nothing new for his company.

“We normally offer company-based discounts in addition to the reduction in VAT because we want to ensure that the customers really really benefit. The government is throwing in the reduced VAT and we normally extend discounts. It’s not unusual for us either. We normally have a big sale in December. We normally call it the “early bird sale”. And at that time, we start at 5 o’clock in the morning. And we have very large discounts,” Kelly explained.

Earlier this month, Prime Minister Douglas said that on December 12th and 19th VAT will be charged at five percent.