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Supermarket dealers need a few more days to put new prices on shelve items, following the implementation of the new VAT. President of the Supermarkets Association of T&T Dr. Yunus Ibrahim says while some products on grocery shelves still carry prices with the old 15 per cent rate of Value Added Tax the correct prices will be applied at the cash registers.

Yesterday he said the prices at the cash registers and on the shelves should be in sync by the end of the week. Yesterday was the first day of the new 12.5 percent VAT. Dr. Ibrahim said the pricing and labeling of items are the only challenges at this time. He assured consumers that the prices are proper at the register. He said steps are being taken to iron out some of the problems in that regard.

Agriculture Minister Clarence Rambharat admits the Local Cocoa Industry has been through too many cycles of neglect to generate the revenue and crucial foreign exchange T&T needs at this time.  Continue reading →