VAT Increase – 1 April 2018
The National Treasury announced an increase in VAT from 14% to 15%, effective from 1 April 2018. Our products and services are subject to VAT and hence resulted in price adjustments. In order to simplify the logistics of having change available for customers paying in cash, Posh Lab have implemented the following pricing updates:
- For products and services that had a VAT inclusive price of less than R300, we have adjusted the price such that the new 15% VAT inclusive price remains the same. In effect, Posh Lab has lowered the original price by 1% and then added 15% VAT.
- For products and services that had a VAT inclusive price of more than R300, we have added R10 to the VAT inclusive price.
The result is such that there is an average of 1% increase across all our services.
Please contact us for further inquiries.