23 January 2008
Following Scrutiny and States assembly approval, Senator Ozouf has published the draft regulations on Price Marking. The regulations explain how prices must be displayed when the Goods and Services Tax (GST) comes in on May 1st 2008. They have been constructed following consultation with the Chamber of Commerce and other large local retailers and, as a result, incorporate a number of exceptions for pre-priced imported goods.
The Regulations cover two main points, firstly that all goods must have a GST inclusive price marked on them and secondly that where exceptions exist, for goods such as pre-priced newspapers and magazines, there must be clear signage to indicate 3% GST will be added at the till.
Senator Ozouf commented: “I am very pleased that we have found a way of complying with the States instructions and Scrutiny’s recommendation whilst being able to take account of the legitimate concerns of retailers. We have worked closely with local traders and have come up with a workable solution to the concerns of pre-priced goods. It is important that business now has certainty on the way forward for Price Marking. That is why I am accelerating the timetable and, with industry’s approval, lodging regulations next Tuesday for a debate on 11 March.”
The regulations have been drafted under provisions in The Price and Charge Indicators (Jersey) Law 200- and will be lodged with the States Greffe in the week commencing Monday 28 January for debate in the States on Tuesday 11 March.
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