Inland Revenue Departments reminds consumers that VAT-Free day excludes hire purchase transactions

As the highly anticipated VAT-free day approaches, consumers are being told that purchases made through hire purchase agreements will not be eligible for the exemption on Value Added Tax.

 

This from Comptroller of the Inland Revenue Department, Kelvin Pompey, while addressing several of the most frequently asked questions from consumers on NBC Radio on Monday.

 

 

Pompey however indicated that online sales will be eligible for the VAT Free initiative.

 

Scheduled for Friday December 19, the VAT Free Day aims to stimulate consumer spending and support local retailers by eliminating the Value Added Tax on a wide array of goods.