BBO, BAZV and BAVP turnover tax on invoice or receipts

ORANJESTAD - During a press conference on 24 September 2019, Minister of Finace, Economic Affairs and Culture mr. Xiomara Ruiz-Maduro provided information about the mention of BBO, BAZV, and BAVP on invoices and receipts.

The changes to the BBO, BAVP and BAZV turnover tax laws came into effect on January 1, 2019. To give businesses enough time to adjust their POS systems, the government uses a transition period of nine months. This transition period is valid until October 1, 2019.

The government held meetings with various stakeholders at the beginning of September. The business owners raised their concerns during these meetings. Taking into account the general interest of consumers and business owners, the government has decided that effective October 1, 2019, businesses can only charge one price as stated on the product and it is not permitted to charge another price at the checkout.

In this way, the consumer is aware that the price placed on the product, the price is that it must pay at the checkout. The government has also responded to the concerns of business owners and has abolished the ban on entrepreneurs from stating taxes on invoices and proof of payment. A business owner is free to state the on the invoice the BBO, BAZV, and BAVP that is levied.

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