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Adjustments in stores and purchases in this last day of the 12% VAT
Posted On 31 May 2016
“We will have to stay behind closed doors (Tuesday), changing the prices and labels of thousands products,” said Victorio Yumisacachafla, administrator in charge of G & P Villacis, a wholesale and retail grocery distributor located in the Chile and Ayacucho streets.
This work and the change in the computer system to automatically record an increase of 2 points in the collection of value added tax (VAT) are the tasks made by different businesses such as supermarkets, appliances stores, clothing sales, among others which from tomorrow will wake up charging a 14% tax after the entry into force of the Solidarity and Citizen Co-responsability Act.
However, the tax increase generated expectation among cutomers, who in some cases, went ahead and made purchases before the tax change.
Geovanny De la Torre, administrator of the Artefacta store, located in the 9 de Octubre avenue, said that since Friday the influx of buyers and sales rose 50% due to the next VAT increase.
