Prime Minister Dr Hubert Minnis. Photo: Terrel W. Carey/Tribune Staff
By RICARDO WELLS
Tribune Staff Reporter
rwells@tribunemedia.net
OFFICIALS have posted “undercover agents” throughout stores to guard against price gouging, Prime Minister Hubert Minnis disclosed yesterday.
Speaking with reporters at the Department of Labour on the sidelines of the official launch of the Public Employment Services Unit, Dr Minnis insisted the agents were “moving through all of the various different institutions” in search of unsubstantiated price hikes.
He suggested consumers have no need to be concerned, stressing the authorities had the issue under control.
Dr Minnis further warned merchants considering the offence, that once discovered, they will be handled “appropriately”.
“I can assure you that the minister of labour has that under control and as we speak, there are undercover agents moving through all of the various different institutions,” he said.
“So I will only send the warning out to the merchants that if they do anything, in terms of price gouging, individuals are moving through as undercover agents and once discovered, they will be dealt with appropriately,” Dr Minnis added.
The government’s new 12 percent value added tax rate took effect Sunday.
Several reports of potential price gouging and VAT rate miscalculations have surfaced over the past week.
On Sunday, AML Foods chief executive Gavin Watchorn had to issue an apology to consumers in Grand Bahama after a provider error resulted in store receipts showing a 12 percent VAT rate two days before the new rate took effect.
Mr Watchorn told Tribune Businesswhile the incident didn’t outright affect customers, as they were charged VAT at the 7.5 percent rate rather than the 12 percent shown on their receipts, the mix-up did cause some issues.
“It was corrected on Friday evening. The wording was 12 percent, the calculation was 7.5 percent,” he said. “I apologise for any distress it may have caused, but once we saw it was very quickly corrected.”
Claims that AML Foods’ Freeport stores were charging 12 percent VAT before the July 1 implementation date were circulated widely on social media, with some shoppers even displaying their receipts as evidence.
One, who had shopped at Solomon’s Lucaya at 6.14pm on Friday, wrote: “Solomon’s Lucaya already charging 12 percent VAT and today is June 29, 2018. I got do right in.”
The Prices Commission, with oversight from the Consumer Affair Division in the Department of Labour, now has responsibility for the strict supervision, review and monitoring of the prices being charged for goods.
Additionally, the commission has the authority to report any suspected violations to the Office of the Attorney General which is expected to, in consultation with the director of public prosecutions and the Royal Bahamas Police Force, aggressively investigate and prosecute should such evidence be found.
Comments
TheMadHatter 6 years, 5 months ago
"Additionally, the commission has the authority to report any suspected violations..."
What violations? There is no offense called "price gouging".
Only price controlled items have restrictions on price. If a conveniene store wants to price their Snickers bars at $7.29, that's their choice. I doubt they will sell very many due to competition in the market.
Competition is the answer to most of our problems. If someone with power and authority would investigate competition in the gasoline and diesel markets we might make some headway. Gas is over $5.00 here and if you check gasbuddy dot com you will find Ft. Lauderdale prices around $2.65 Those fuel transport ships must have the most inefficient propulsion engines known to man.
Why doesn't THIS newspaper publish one Ft Lauderdale station at the top of the page along with the other three stations they publish daily?
So, not only is there insufficient competition - but ignorance among the population about the situation is not being addressed.
kevintynes 6 years, 5 months ago
Exacty @TheMadHatter.
In regards to the price of non price control items, what can these so called undercover agents do legally? Nothing! Why? Because a business like you say can sell a mint for $100 if they want to. If customers do not like the price, they have the right to go someplace else.
I do not know why newspapers report things people say and do not call out the horseshxt. Because this complete article is horseshxt
licks2 6 years, 5 months ago
Don't forget that government have them over the barrel with the VAT reductions agreements given back to them!! Already I have paid $104 for a copy of the tribune at the gas station opposite Sanders Beach. . .when I went to gas station next to Eugene Dupuch Law School I gave the girl three for two papers and she told me that their papers are still $100 a copy! So there are some merchants doing skulduggery. . . that is stealing or fraud!!
ohdrap4 6 years, 5 months ago
some businesses chrge vat on the newspaper.
that is why I get one from the delivery guy in my neighbourhood who accepts payment by the month
licks2 6 years, 5 months ago
Nobody collects VAT on news papers. . .never before. . .that's why I found it out of order when I was charged the price. If memory serves me right the news paper company waved their VAT entitlement to remove VAT charges fro their customers! I never had to pay the 7.5% for no news papers. . .never since VAT!
TalRussell 6 years, 5 months ago
I tell you ma comrades, first comes Spy Agency - followed so quickly by dispatching Secret Undercover Agents throughout colony islands. Thankfully, cause the Queen cannot be expected be's everywhere in Commonwealth at one time - that's why she has her "Sit-In" residing atop Mount Fitzwilliam.... gives best lookout point over colony island's main island.
Could this Art boycott - spell the end reign of the Imperial Red Shirts regime..I been telling how even the governor=general wouldn't be able keep all that is going on locally away from reaching across the other side pond to the Queen. This could very well be Her Excellence Dame Marguerite's breaking point with Prime Minister, KP and other members local Imperial court... You've thought that protecting we local Art - would've been cultural priority red shirts.
Well_mudda_take_sic 6 years, 5 months ago
Truth be told, we need undercover agents to monitor what the Dimwitted Doc and his foolish fellow cabinet ministers are doing with the increasing amounts of our hard earned tax dollars that they feel entitled to take from us whenever it suits their own needs.
licks2 6 years, 5 months ago
There you go again. . .being a dumb political dimwit. . .you are acting like you don't know that we are being guided to save our own economic hips before we go the way of Barbados and some other weak and anemic economies who spent their tails into a hole that they can't get out of! So as the DNA if you can't be useful and sane. . .just keep ya self quite. . .cheap political bull is not needed or wanted. . .bring some sense or carry ya tail back to DNA HQ and ask them to send someone with a lil bit of sense. . .or honesty. . .we have enough "dry-eyed" blinders on commentary from the PLP peanut gallery!!
Dawes 6 years, 5 months ago
This is the same policy that the PLP did when VAT was introduced. They make a big noise about doing stuff to make sure merchants don't over price to make people think any increase is due to the merchant being greedy. As normal i am sure it would work. If i was a merchant i would consider pricing some of my items showing the total amount paid to Government broken down by VAT, Duty, Stamp Tax, Business License fee etc so people realise that a large part goes to Government.
Well_mudda_take_sic 6 years, 5 months ago
Deflect and twitch as he may, the Dimwitted Doc is now forevermore an emperor without clothes when it comes to all of the very unfair hardships we the Bahamian people will be experiencing because of his (and Turnquest's) most foolish decision to increase VAT by 60%. And to think he promised over and over again on the campaign trail that it would be the people's time notwithstanding that he knew, before the outcome of the last general election, all there was to know about the PLP having left the cupboard bare with unsettled debts everywhere. He knew, he knew, he knew all! And for him to pretend otherwise in order to inflict more pain and suffering on the Bahamian people so that he and his fellow cabinet ministers could enjoy the good life of plenty perks and travel paid for by us over-burdened and suffering taxpayers is outrageous to say the least. These elitist political scoundrels and their families and business cronies have no shame!
hrysippus 6 years, 5 months ago
Former Malaysian prime minister Najib Razak has been arrested by anti-corruption authorities and is due to be charged on Wednesday.
Hah Hah. Can we do this too please.
BahamaPundit 6 years, 5 months ago
What about the undercover agents for Bank of The Bahamas?
bogart 6 years, 5 months ago
@BahamaPundit.....good suggestion......they all already know each other or of each other being in the similar accounting, banking field for years an years.
birdiestrachan 6 years, 5 months ago
doc wants to appear as if he is doing something . But it is doc who has done all of the damage. But what can one say about him and the FNM Government after all they elected two Dead men to boards. Doc has hurt the poor and middle class.
It gives me great pleasure to say to doc the next time he looks in the mirror, God made ugly but he does not like ugly. A Bahamian saying or Biblical I am not sure never the less it is very fitting for roc wit doc.
BahamaPundit 6 years, 5 months ago
We have undercover agents in the foodstore checking on Corned Beef but still no audit of Bank of the Bahamas for hundreds of millions of unsecured loan given to politicians. SMH
The_Oracle 6 years, 5 months ago
What a marvelous Idea! I suggest undercover agents for all Government departments and all Politically elected and appointed figures past and present too! And make sure this applies, your words. Additionally, the commission has the authority to report any suspected violations to the Office of the Attorney General which is expected to, in consultation with the director of public prosecutions and the Royal Bahamas Police Force, aggressively investigate and prosecute should such evidence be found."
TalRussell 6 years, 5 months ago
Ma Comrades, doing things "out sight and undercover" is the crazy glue that keeps Imperial red shirts - stucks together.
John 6 years, 5 months ago
Donald Trump would call this FAKE NEWS! After hoodwinking the public with his surprise VAT increases, Minnis is trying to buy the public's grace and favor like he is looking out for their interest from a merchant class that cannot be trusted. Facts are it was the same merchants that contributed to the overwhelming success of the introduction of VAT and its continued ability to collect billions from consumers for and on behalf of the government. And yes, there will be missteps and there will be differences in the manner in which the increase in vat reflects itself in pricing. For example a VAT registered company will keep most of their prices the same and the VAT increase will only be reflected at the cashier when the new VAT is added. A smaller store who pays VAT but does not collect it back from government will have to add the four and a half cents on to their prices, plus any additional cost they feel are associated. So their prices may go up a few cents more than the VAT increase. So Minnis should be careful not to incite consumers against merchants, especially in absence that something untoward is going on.
licks2 6 years, 5 months ago
Lost as usual. . .not even close. . .the more yinna attempt to be real relevant politically. . .the more yinna go back to being lost to sound reasoning and honesty. . .hahahahahahahahahahahaha. . .what a joke for for political pundits we have in this country!!! Do you understand the VAT thing there fella?
Dawes 6 years, 5 months ago
But he is right on the VAT effect. If a business is VAT registered there is no change to it's overall cost as VAT is paid by the consumer and the business can offset its input VAT against its output VAT and pays the Government the difference. If the business is not VAT registered then it has no output VAT and most pay all the input VAT as it can't claim it back
licks2 6 years, 5 months ago
You don't understand what VAT is and how it is processed! All businesses are VAT registered. . .have a TIN. . .THOSE OVER $100,000 YEARLY ARE THE ONLY ONES AUTHORIZED TO "COLLECT AND SUBMIT ALL COLLECTED VAT TO GOVERNMENT". . .those collecting are credited by the government Inland Revenue. . .not they themselves. . .it is a zero sum deduction by the merchants. And yes the merchant is VAT effected when he/she introduce inventory to his/her inventory. . .VAT is paid like any other citizen!!
Dawes 6 years, 5 months ago
No you don't understand VAT. If a business makes under $100,000 it is up to them to be VAT registered. IF they are they must charge VAT, but if they are not then they can't claim VAT back. Yes if a business brings in inventory they must pay VAT on it then, however at the same time anything they sell they keep the VAT from the customer. The net of these two is then paid to the Government on the 21st (unless the business is due a VAT refund).
ashley14 6 years, 5 months ago
Why would Trump call this Fake News?
BahamaPundit 6 years, 5 months ago
Re John I agree completely. It's as if Minnis is pulling from an outdated book on political strategy. Divert attention, red herring. But he's so slow at it and obvious; it's laughable.
licks2 6 years, 5 months ago
Hahahahahahahahahahahaha. . .if the doc pulling he stuff from one ole political play book. . .and beating the hell out of yinna dimwit political hacks . . .that een saying much for yinna there fella. . .yinna getting yinna hips whopped by a retard. . .hahahahahahahahahahahahahahahahahahaha!! So what. . .so that make yinna retarder???
TalRussell 6 years, 5 months ago
Ma Red Comrades, demonstrate transparency by shocking PeoplePublic, after they learn who is the foreigner "Hired Gun" plotting each and every move by the PM?
sheeprunner12 6 years, 5 months ago
How does one apply for a VAT12 spy job????????
licks2 6 years, 5 months ago
Runner you know that ween ger get none of them jobs. . .them jobs like that are still given to they cronies. . .
John 6 years, 5 months ago
Like I said before Minnis dem is just the puppets. Plenty operatives in this country pulling da puppets strings. One of the puppets dem even had his id revealed and ting
licks2 6 years, 5 months ago
Who dat? I suggest that you go and download all 25 UN accords the Bahamas is signatory to and all international economic bodies we are obligated to as well. . .read them all and inform yasef. . .stop being such an ignorant political spokes person! For example, go read the USA TIP regional report and see where the Bahamas was directed to get its act together!! And for your information. . .IOM regional researchers are here now telling us what to do!!
The_Oracle 6 years, 5 months ago
Minnis is proving to be a micro-Manager of Ingrahamic proportions.
sheeprunner12 6 years, 5 months ago
What is a PM who is the CEO of Cabinet supposed to do????? ....... Sip wine and eat caviar all day like Perry, hey??????? ........ Been there, done that.
licks2 6 years, 5 months ago
So he smart now aye? Hahahahahahahahahahahaha. . .Freudian slip aye? I keep telling yall that yinna lying to yallsef. Yinna saying that he is dumb as a bag of rocks. . .then ya saying he micro-managing all them smart peoples? ROFL. . .yinna is something else nah!
ohdrap4 6 years, 5 months ago
you all are getting this wrong
the undercover agents will act on those who collect vat and do not pay or underpay the govt.
they are there to protect the govt, not he consumer.
Porcupine 6 years, 5 months ago
Next time we ask where the VAT money went, we'll know. A bloated government that hasn't reduced its debt. But, they'll sure be keeping an eye on the little people. A few bad words about the government and we'll see just where that money went.
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