3.5% Sales Tax on Travel Agencies likely to bankrupt 90% of businesses
Friday, August 27th, 2010The newly passed tourism tax bill imposes a sales of tax of 3.5% on all services rendered by travel agencies. Additionally the same percentage is imposed on services provided in the resorts, a total of staggering 7% Sales Tax from tourists’ pocket.
In sale of holiday packes well established agencies keep a margin of 10% inclusive [...]