Monday, September 24, 2012

"Consumidor final!"

One of hundreds of receipts your average consumer saves.

Ecuador has this interesting tax reduction opportunity where when you pay your annual taxes you can reduce what you owe if you can itemize all your purchases including meals at restaurants, ice cream cones, groceries, you name it.

However, at the time of the sale you have to have the seller record your name and address, and the seller has to keep track of this information presumably so the government can double check that you aren’t cheating on your itemized tax returns.

Needless to say this takes a lot of work and time for the seller. So the seller always asks do you want to provide your name and address.  Actually I have no idea what question they ask you because they say it so fast, all I know is I need to say "consumidor final". I’ll bet I even say "consumidor final" even when they aren’t asking me the question.

The consumer then saves all these receipts and once a month they organize all these receipts so that they can itemize them on their taxes. What an amazing consumption of time!



2 comments:

  1. Very interesting! Do you notice a lot of people doing this?

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  2. Where you notice it is when your at the point of sale. You have to wait for the person in front of you to write their name and address on a form to give to the clerk. It happens quite a bit, so "yes".

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