Just another day in the world of wholesale supermarkets 🛒 Municipalities are playing hardball with price hikes, and the big players aren't impressed. They're calling out the "unjustifiable" tax hikes and "illogical" contributions while demanding a critical review of mandatory expenses like employee training. According to them, it's time to stop sacrificing profit margins. Check out the full story here: https://ift.tt/Na3DQpY
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Economy of scale must be something unknown to the Greens in parliament? Suggesting to break up our key supermarket chains…..really!🫣 All that would do is drive grocery costs up. Nobody seems to be concerned why IGA stores are always come with higher grocery costs and if the government and the Greens are genuinely concerned about reducing grocery costs, supermarkets should be exempt from Landtax. A rough estimate that there are around 5000 supermarkets within metro areas and all of the Woolworth and Coles stores will be paying the land tax, as the rule applies that land tax must be paid by a public company regardless of rent. At least 100k per store per year would be the land tax, which adds up to 500 Million dollars paid by Woolworth and Coles each year in land tax, but ultimately paid by us the consumer. Insurance, Council Rates, increased electricity costs are all adding to the cost structure of supermarkets offering in many cases 24 hrs shopping with an unparalleled range and employing 100’s of thousands of Australians all earning a living. #greens #landtax #risingcosts #factsmatter
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What this government are thinking when they ignore the businesses who create the wealth to pay the taxes to pay the giveaways they toss out like snuff at a wake, is hard to understand. Is it that they are so focused on the short term that the long term economic health of the nation completely eludes them? Is it that independent businesses which make up the majority of businesses in Ireland and support a chain of other independent businesses simply don't matter? As the offspring of one such business who has seven siblings in such businesses and it is deeply distressing to see politicians play fast and loose with the futures of our business population. Just where do they think the money is going to come from when the trickle of closing businesses becomes a flood. Infuriating. Time to make the voices of the entire hospitality and other businesses affected heard in a real way. Maybe the French could teach us a thing or two about that. Adrian Cummins Restaurants Association of Ireland Vintners' Federation of Ireland (VFI) Good Food Ireland® #budget2024 #restaurantsurvival #supportlocal #supportindependent #seanfleming
We are now one day on from #Budget2025 and with the Government failing to reintroduce the 9% VAT rate, our industry is facing a crisis with closures set to continue in the coming months. With the upcoming election campaign, now is the time to make our voices heard by engaging with local TDs. We urge all restaurant, café and food-led businesses to reach out to their local TDs. Together, we must continue to fight for the future of our industry! #VAT9 #VoteVAT9
Day After The Budget Update
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Happy Halloween from the REKKI Office! 👻 Now that we've got your attention, here's a quick spooky update on what the Autumn Budget mean for wholesalers and the hospitality industry. ► Operational Costs are Going Up: 2% increase in Employers’ National Insurance contributions and 6% increase in National Living Wage ► Freeze on Fuel Duty: The fuel duty freeze extends another year, this will help keep transport-related expenses stable temporarily, supporting wholesale suppliers reliant on delivery networks. ► Tax Changes for Small Businesses: VAT registration threshold will rise slightly from £85,000 to £90,000. While it reduces the immediate pressure on small businesses, it only marginally offsets high inflation effects for smaller operators and suppliers. ► Alcohol Duty and Wine Tax Complexity: While the freeze on alcohol duty until February 2025 offers some immediate relief to pubs and bars, the forthcoming increase in wine duty rates in 2025 has left some stakeholders frustrated. ► Business Taxes are More Predictable: A corporate tax strategy has been introduced to provide greater certainty for businesses over the next several years, which could help suppliers and restaurateurs plan their growth and financial strategies with more confidence. What are your thoughts on the budget changes? (and thanks George for bringing the Halloween spirit) #wholesale #uk #autumnbudget #suppliers #hospitality #restaurants
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I quite agree with Tom Kerridge on this one, hospitality isn't only restaurants but kiosks, coffee shop, small take away or catering business. Every single operator got hit with COVID, now its price hike, but what loads of people dont know, another one is tax hike for imported goods, including cheese, a maximum charge of £145 will apply on imports of plant and animal products, such as cheese and fish, entering the UK through the Port of Dover and Eurotunnel from 30 April. This month will be very important to all operators, how they will work out their margins, not only food costings but also staff salary increase which went up just few days ago. Another one is ordinary people who were hit by price increase, now have less money, so less money will be spend, operators must be very active in running offers which still makes profit to every business but not to upset customers. Its a tough one and only strongest will survive, we are going through this battle since 202 and it doesn't look it will finish soon, until markets will settle and go back to normal spending habits. https://lnkd.in/e3Ts9K68
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As much as the salaried class is disappointed with the new fiscal tax regime, it has become increasingly evident that other segments of society must also share the burden. As consumers, we have a responsibility to support businesses that are contributing to the economy through proper tax compliance. We must prioritize purchasing from retailers who are registered for sales tax or are integrated with the Federal Board of Revenue's (FBR) Point of Sale (POS) system(tier 1 category). The FBR has provided updated lists (as of July 29, 2024) of: 1. Sales tax-registered retailers, restaurants https://lnkd.in/dcGRKXvw 2. Tier 1 shops integrated with the FBR's POS system https://lnkd.in/dd-q62Mh We must ensure that we provide business to only those retailers which contribute to the economy which will result in greater tax collection and discouragement for unregistered businesses.
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SUPERMARKETS and cafés and restaurants can expect a bump in spending with the introduction of the stage three tax cuts, according to Deloitte Access Economics, which is expecting an as-yet elusive retail recovery to emerge later this year. #retailsales #costofliving #inflation
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The annual increase to the Excise Tax on alcohol should be scrapped. This year's increase of 4.7% is set to be the largest increase of the alcohol tax in 40 years. As they continue to battle inflation, high interest rates, labour shortages, and increases to carbon and payroll taxes, our craft brewers, wineries, bars, and restaurants can't afford this additional tax hike. #AxeTheTax #smallbusiness #cdnpoli
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It’s a fresh start. As Keir Starmer took keys to Number 10, his party has to hit the ground running on tackling urgent challenges: cost-of-living, growth, housing, crime, education, employment, environment, health…the list goes on. By end October, we expect our new, first-ever female chancellor (👌), Rt Hon Rachel Reeves first budget, setting out the roadmap for economic stability. A roadmap on plans for business tax is expected within six months. We know employment rights and planning policy will be a big focus. As will net zero and decarbonisation. But to deliver, the new government will need to forge a partnership with retail and other industries. Working with our members, we're ready to be a constructive partner, helping leverage the scale and reach of retail to deliver the policy goals that benefit every corner of the country. The machinery of government had become old, tired and fraught with tension between business and politicians. In order to drive real and positive change, and get more retailers investing in communities, in technology, in climate action and in people, any government needs the power of industries such as ours. Nothing can be achieved without shared endeavour and collective buy-in. Through our #BuyIntoRetail campaign, we’ve been highlighting the importance of retail to our economy: the scale of your contribution in every corner of the country; the creator of 3m jobs. This campaign will continue, so get involved by engaging with your new MP to highlight the power of what we call the ‘Everywhere Economy’ in our Manifesto for Retail. We’ve already built strong relationships with many new Labour ministers and they understand the contribution the industry can make. Now it’s about ensuring follow through on commitments made in the manifesto. The Apprenticeship Levy must change, and Labour’s commitment to a flexible Growth and Skills Levy could provide just the answer. A more flexible levy could be instrumental to Labour’s policy for growth. We hope this will appear in the first Labour autumn budget. Rising rates of retail crime and abuse have burdened retail workers for years. We’re pleased Labour has a tough line, and were first to back the industry’s pledge to create a new specific offence for assaulting a retail worker. We hope implementing this is in the King’s Speech on 17 July. We need more details around other manifesto proposals. There’s no doubt business rates are a hard nut to crack, but all of us, Labour included, agree the system is broken. We’ll continue to work with them to ensure any reform is thought through and reduces the burden on retailers. Ultimately, any reforms should incentivise investment and benefit all retail businesses. We also need to understand more about plans for recycling and building a circular economy, and how it will implement some of its employment law proposals. It’s time for that fresh start. We'll build on the relationships we already have. So let’s get down to business!
‘Now it’s all about the government’s follow-through on the commitments that matter to retail’
retail-week.com
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Big news for Illinois shoppers! 🛒 The State Senate has approved a budget that includes cutting the 1% tax on groceries. While this move aims to benefit working families, it's also causing adjustments for municipalities. Learn more about this significant tax change and its impact on local communities.👇 Source: https://bit.ly/3x5iKb1 To learn more about how we can help your brands, contact us at www.savvy-palate.com #Illinois #TaxReform #GroceryTax #BudgetNews #ConsumerRights #PolicyChanges #FinancialPolicy #LocalCommunities #food #beverage #consulting #foodbroker #healthyfoods #consumers #hispanic #retailindustry #shopperloyalty #supermarketnews #retailnews #customerexperience #retailtrends
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Tax equality day highlights the difference between hospitality venues which have to charge an additional 20% on food and drinks whilst supermarkets have their products zero rated. This imbalance is having significant impact in a sector we all love and enjoy. The knock on affect of discounting prices by paying less vat is increased sales (so although at a lower level the VAT receipts could still be the same if not better for HMRC) and with increased sales, owners can employ more staff (more income tax for HMRC) and be more likely to commit to investment and growth. Simples right? At Vickery Holman we are in touch with front line operators all the time and VAT is the key point of change - across the board. The Wetherspoons initiative will prove that more people will eat out, more often at a better price, but at this stage they are still footing the bill.
JDW cutting prices to mark Tax Equality Day
morningadvertiser.co.uk
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