GST Increase + Nets Fees Increase
Retailers will be hit by a double whammy coming this 1 July. GST will be increased from 5% to 7%, while Nets administrative fee will be increased from the current 0.35~0.55% to 1.5~1.8%. Very well coordinated moves indeed.
Read in the papers today that the Nets increase is to make itself more competitive. I thought competitiveness is typically achieved by cutting costs with the ultimate aim of providing cheaper goods/services vis-a-vis competitors? (Well at least thats what the gahmen always hype about...we must maintain our competitivesness by keeping costs low blah blah) Am I missing something? Maybe because Nets has no competitors to speak of?
Please englighten me........................
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15-06-2007, 01:04 AM
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