FTC: Duty-free day unfair
THE FAIR TRADING COMMISSION (FTC) says the 2011 duty-free day was unfair to many businesses in the island.
Following complaints from two Bridgetown stores as well as the management of the island’s biggest mall Sheraton Centre, the regulatory body found that the move had the potential to distort competition.
In its 2012 annual report, the FTC said it considered the matter at its December 8, 2011 meeting and determined that under the Fair Competition Act the Commission was granted authority to investigate conduct undertaken by enterprises engaged in business for gain or reward.
In this case, however, the action of concern was a matter of policy and did not constitute alleged anti-competitive conduct by an enterprise. It was therefore not subject to investigation under the Fair Competition Act. (NB)