PRESS RELEASE - The Ministry of Commerce, Business Development, Investment and Consumer Affairs would like to inform importers of price control items that effective July 1, 2014, the following price control items would attract 15 percent Value Added Tax (VAT).
The items in question are as follows:
H.S. Number
Item Description
0713.10.20
Split pea, dried, shelled, whether or not skinned or split
0713.10.30
Blackeye peas, dried, shelled, whether or skinned or split
0713.20.00
Chic peas (garbanzos), dried, shelled, whether or skinned or split
0713.10.90
Other peas, dried, shelled, whether or skinned or split
0713.33.10
Red kidney beans, dried, shelled, whether or skinned or split
0713.33.90
Other kidney beans, dried, shelled, whether or skinned or split
0713.39.00
Other beans, dried, shelled, whether or skinned or split
1513.19.00
Coconut oil
1602.50.10
Canned corned beef of bovine animals
1604.13.10
Canned sardines
1905.90.10
Biscuits, unsweetened
The Ministry wishes to advise that the maximum distributor’s price, the maximum wholesale price and the maximum retail price for these items which were imported prior to July 1, 2014 must be recalculated to include the VAT component and resubmitted to the Ministry for approval before exposing these items for sale. Please note that only stock on hand should be reflected on the Price Calculation Sheets.
The Ministry urges importers to comply with section 35 (2) of the Distribution and Price of Goods Act #35 of 2006 which states that a trader shall not sell any price control goods unless the director of Consumer Affairs has approved the selling price.
