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Parmessar Dissapointed: Text VAT changed at publication

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Convert as much as 10,000 m2 of land in rent into ownership

The conversion of land into ownership has been agreed upon by the VHP and the ABOP/PL. During the opo yari (opening of the year) meeting on Saturday night in Nieuw Nickerie, Minister Bronto Somohardjo...

Rabin Parmessar, the leader of the NDP party, points out that the Tax Added Value Act’s (VAT) published wording differs from the version that was adopted by the National Assembly. He promptly informed Assembly Chairman Marinus Bee of his findings.

The Act’s Article 4 Paragraph 1 specifies a 10% VAT rate. The tax rate on the items mentioned in Annex 3 to this Act is 25%, in contrast to the stipulations of paragraph 1 of this article.

The statute as published reads: Article 4 (1)

10% is the tax rate.

Section 4 (3)

In contrast to the provisions of paragraph 1, the tax rate is 25% when products listed in Annex 3 are delivered.

The substitution of “in the event of the delivery of goods” for “on the goods” in Article 4 (3) constitutes the divergence. Because of this involvement, luxury goods imports no longer have a different tariff of 25%, according to Parmessar. According to Parmessar, this benefits the importers of these commodities.

After National Assembly approval, it is typical for linguistic and technical issues to still be corrected, but the content cannot be changed.

 

 

 

 

 

 

 

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