200+ New Jobs As Tesco Expands

[kevster]

15% of tesco's take is quite a significant amount of cash I imagine.

 

Don't forget though that a big chunk of their sales - being basic foods - would be VAT exempt.

[Slim]

Don't forget though that a big chunk of their sales - being basic foods - would be VAT exempt.

 

Yeah, Jaffa cakes are, Jaffa bikkies not

[Gladys]

Does Tesco import into the IOM?

 

Of course. Virtually everything it sells, other than local meat, fish, veg, and beer, is imported. And most of the packaging for the local produce.

 

S

You misunderstand, Tesco transport a huge amount of goods over here, but do they import? They move goods that have already been through the importation process into the GB VAT area, which includes the IOM. As I understood Juan Watterson, because they do not have a separate identity here, either corporately or in their VAT registration, the turnover doesn't figure in the equation of our share from the VAT pool.

[Slim]

You misunderstand, Tesco transport a huge amount of goods over here, but do they import? They move goods that have already been through the importation process into the GB VAT area, which includes the IOM. As I understood Juan Watterson, because they do not have a separate identity here, either corporately or in their VAT registration, the turnover doesn't figure in the equation of our share from the VAT pool.

 

I think you're confusing importing that's liable for duty and importing that isn't. For the sake of the islands GDP calculation any goods brought in are imports, even though there's no import duty.