A leading Bridgetown businessman sees any additional tax at this time as a further imposition on business.
Managing director of S Abed & Co. Ltd., Edward “Eddy” Abed issued this warning today during an interview with Barbados TODAY as private citizens and corporate Barbados reacted to Government’s new Municipal Solid Waste Tax.
Arguing that the new tax comes at a time when revenues were down, Abed said: “Any additional tax at this time is a further imposition to business”.
“. . . [we] were down last year and also the previous year. Although we are knowledgeable as to why the tax is being raised, we would have preferred to have more time to pay it,” he said.
”Giving us a deadline of July 28, we find very unreasonable. Even if we were given an additional six months to pay the full amount by December when our cashflow would have been more positive would have greatly helped our trade,” Abed added.
While declining to give the exact amount of tax his company has to pay, Abed said: “We are somewhere under $10,000.”
Asked if the new tax could mean that customers would have to pay more for the goods being sold at the Swan Street store, Abed said: “We cannot increase the price of the items currently being sold at the store. We have to absorb the tax. All of the goods we sell, customers can do without. We at Abeds are fighting like everyone else out there for whatever disposable is out there.
“Trying to raise prices at this time will not work in our favour. Under these circumstances we will have to absorb the tax.”