A letter to the Editor…
I am very excited about Value Added Tax. I know people will think I am crazy for saying that, as to a lot of people, VAT simply means paying an extra 7.5% on items and transactions.
To me, a businessman, VAT means lowered Customs Duty on many items that I bring in from the United States. Items like lumber, flooring and ketchup are now free. No Customs Duty is applied to those items and items like yogurt, vegetables, coffee and cement are now reduced. The entire list of duty free items and items which have reduction in duties are listed on the Ministry of Finance’s website.
I advise all business people and the public in general to get acquainted with this list so that they can be on point in their purchases.
VAT is beneficial to us all. We only have to educate ourselves and understand it.
Thanks for giving me the space to express this.