According to ATIA President Hendrick Heriques, he could also have noted in various reports that traders themselves have opted for the BBO at the border, this does not truth according to ATIA President Hendrick Heriques, traders did not opt for this, if you look at all the letters that were sent along with the other unions are clearly for VAT, but not in the way it was presented to the government tax department.
The government department introduced the VAT with two rates 18/6 and then 14/6 but ATIA stood up to do so but the IMF reported in 2018 that the VAT should be a percentage that should be as simple as possible, with as few exceptions as possible and on a very broad basis. ATIA still believes this is the best way because it simplifies the tax system. According to ATIA President Hendrick Heriques, it is not the guilds that came up with the idea of a BBO at the border, but at the same time they believe that if it is implemented well and correctly in a way that the BTW share can temporarily make for such trade and all citizens of Aruba should start getting used to the way a BBO and BTW will come.
ATIA is also questioning whether the BBO at the border is necessary given that if you look at the February central bank report that came out at the beginning of May, you could see that the government’s income increased significantly whereas the BBO’s income increased to 10.6 million which is more than predicted. The total revenue increased to 25 million and of the 25 million 10.6 million is only BBO which illustrates that the highest priced products that charge the highest BBO come in, this has also been said in the past according to ATIA President Hendrick Heriques.
If there are more of YOU, do you really need YOU at the border? Need a new tax? With all of us having to deal with it, ATIA President Hendrick Heriques thinks it’s important to re-evaluate this decision to see if you really need to come with you to the border by early June, which is a few days away.
Another point that has also been rumored is that BBO at the border does not raise costs, according to ATIA President Hendrick Heriques this is not entirely true, some ways are true and some ways are not true. It’s true that if it doesn’t increase costs it’s a commodity, when it’s clearer where the merchant gets his credit back he shouldn’t increase costs, but where it does increase costs is if the product is not considered a commodity the product’s revenue goes up by an extra 7%, which can be seen as an extra 7% of the invoice tax.
Where it is also affected is where the merchant is about to pay the BBO and has the product and does not know when this product will be sold either. A BBO at the border unless the goods are clearly defined does not have a broad view and the administrative work becomes much more.
ATIA in this case is pushing for all imported products to be able to get credit as a trade option, which will open up the market much more and help the trader. ATIA believes that the government needs to define very clearly what trade is to be determined in this law especially the BBO at the border which will have more changes in the law that are pending on it. ATIA promised to have the draft by the end of March but is still waiting on it and the days are close for the bill to be introduced.
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