Value of imported goods are being understated by some businesses - AG

The value of goods being imported by some businesses is being understated to evade Value Added Tax.

It is quite clear that this is happening as VAT earnings are up from the sale of goods locally however the VAT collected at the border for the goods coming in has decreased.

Acting Prime Minister, Aiyaz Sayed-Khaiyum says the government is looking into this issue as many of the goods being sold are imported.

While speaking at the Top Executives Conference at the Warwick Hotel, Sayed-Khaiyum also says that the government continues to look at targeted assistance as we get ready for the National Budget announcement on November 6th.