Businesses that continue to charge their customers Value Added Tax (VAT) on items for which the VAT has been removed or has been reduced will face the full brunt of the law says Senior Minister in the Office of the President with Responsibility for Finance Dr Ashni Singh.
The Ministry of Finance in a release yesterday reported that Dr Singh wished to send “a stern warning” to those businesses that continue to flout the law and “unscrupulously” charge VAT when they should not. Dr Singh stated that those engaging in this illegal practice will face the full force of the law as they are denying consumers the right to benefit from reduced prices on various commodities including construction materials.
“It has come to my attention through various reports from members of the public that a number of hardware stores have since refused to comply and are still unscrupulously charging VAT on several items,” the Minister noted.
