(QCOSTARICA) September is around the corner and so are the deals at local merchants, offering discounts for the end of the fiscal period, which for many will be on September 30.
Large retailers like Walmart and EPA have already announced liquidation prices, with discounts of up to 70% on selected items in stock.
Mariela Pacecho, coordinator of Corporata Affaits at Walmart, told La Nacion, “these reductions correspond to a process of liquidation of merchandise that is part of the end of the fiscal period.”
While Walmart had its big blow this past week, Pacheco added that deals will continue, as well at their Masxmenos and Pali stores.
“Currently, EPA has more than 2,000 products with discounts ranging between 30% and 70%, which will reap great benefits people to invest in their home,” the company said in a statement.
EPA’s strategy is to offer customers to buy products affordably, to make room for new products.
For most companies, the fiscal period runs from October 1 to September 30, with income tax declaration be made not later than December 15.
German Morales, tax partner at Deloitte, explained that if the company sells the products at lower prices or at cost, then the profit is lower and tax to be paid is reduced.
The expert added that companies need to sell their existing stock to recover their liquidity to purchase merchandise for the new season.