Discusses pricing formula and other fees, value-added tax (VAT), etc.
Last Published: 11/1/2016
Prices are generally market-determined. The major exceptions are petroleum products, electricity, and water, whose prices are regulated by the government. U.S. firms should conduct their own market research to obtain consumer preferences, cost of delivery, distribution, and advertising. Price is best developed with advice from local distributors who are well attuned to the competitive factors at play in specific markets. A standard 14% VAT is levied on all goods and services with an exception of a 4 % levy which is added to the 14 % VAT on alcoholic and tobacco products.

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