By NEIL HARTNELL
Tribune Business Editor
nhartnell@tribunemedia.net
While commercial property sales involving occupied buildings will see 7.5 per cent Value-Added Tax (VAT) levied on the sales price, Financial Secretary John Rolle yesterday said companies would be able to claim a ‘credit’ for it, or ‘net it off’, in their VAT returns.
- The hotel industry, though, appears to have been unsuccessful in its bid to have Promotion Board levies and fees exempted from VAT. The VAT regulations make clear that mandatory accommodation charges, gratuities and fees will be included in the tax’s calculation.
Comments
ohdrap4 10 years, 1 month ago
i have a question from tribune page 9, it lists the present duty on milk , coffee and tea as 10%, to be reduced to 5%.
I thought that was duty free, at least until july 1st this year.
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