To All Our Business Partners - July 1st, 2021
Below are the Procedures for participating merchants in the “Hurricane Supplies Tax Holiday 2021”:
The tax holiday begins on July 9th, 2021 and ends on the July 31st, 2021.
The items on the ‘Hurricane Supplies’ list are the items to be zero rated.
Inventory listings are to clearly indicate the sku# and item description of the item sold as zero rated.
Pricing and signage must reflect that the VAT Inclusive price is at a zero percent rate.
On VAT returns for the month of August or for the quarter ended September, 2021 as appropriate please ensure that all ‘tax holiday’ sales are recorded on the line that records zero rated sales i.e. line 1.
For the days that zero rated sales are made you are expected to retain detailed electronic sales reports. These reports should be capable of detailing the quantity of items sold, the sku# and description of the items sold and the price charged to the customer.
A merchant may accommodate purchases on lay away at any time prior to the tax holiday.
Lay away purchases may be charged at the tax holiday prices only where the lay away is completed within the period in which the tax holiday is in force. The purchase is not considered completed until the goods are delivered to the purchaser. S32 (3) VATA. So that for example Mr. Rolle can lay away his tarps and other supplies on July 1st and pick them up on July 31st, 2021. Mr. Rolle may complete his purchase VAT zero rated.
Completed zero rated lay away sales are to be reported in accordance with paragraph 4 through 7 above.
HURRICANE SUPPLIES TAX HOLIDAY 2021 LIST
Items to be zero rated from July 9th to July 31st 2021 are:
Uninterrupted Power Supply (UPS) Systems
Battery Operated Fans
Sand Bags (pre-filled)
Containers and Cans for Water, Gas & Diesel
First Aid Kits