Cyprus Mail
Cyprus

Supermarkets will absorb VAT increase

SUPERMARKETS will absorb the increase in VAT so as not to affect consumers, said Andreas Hadjiadamou yesterday, speaking on behalf of the Cyprus Supermarkets Association (CSA).

Hadjiadamou, who is an executive secretary for the CSA, said that the decision was made by the association so as to spare consumers the financial burden and give them “a breather”.

Hadjiadamou said the market was doing very well during the holiday season and noted that the negative financial climate was starting to lift. “Consumer psychology is starting to change. People are getting over the uncertainty,” he said.

Asked about the issue of food safety, Hadjiadamou said the state had checks in place to ensure that all consumables were fit for consumption and in compliance with international food safety regulations.

“The government departments in charge of inspections are doing a great job and are working very close with employers and supermarket owners,” said Hadjiadamou.

“People trust the supermarkets. They trust that we are conducting thorough checks on our food and drinks.”

The Cyprus Consumers Protection Service and the State General Laboratory are doing regular checks on products.

According to a CCPS official, last May the agency fined a certain supermarket €10,000 for false advertising. The supermarket had a ‘buy one get one free’ offer on some of its products but had doubled the price.

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