By Jomo Paul
[www.inewsguyana.com] – Presidential Candidate for A Partnership For National Unity/Alliance For Change (APNU/AFC) Brigadier David Granger has signalled the coalition’s intention to conduct a massive overhaul of Guyana’s tax regime.
Granger made the proclamation while fielding questions at a Guyana Women’s Round-table and Guyana National Youth Council (GNYC) coordinated forum held at the Theatre Guild on the evening of April 13.
Guyana’s tax regime has been of topical discussion for several years now with interest groups advocating for a general reform with the intent of reducing taxes in general.
Granger told the crowd gathered at the forum that if elected, an APNU/AFC government will pursue the establishment of a Tax Reform Commission.
The Presidential Candidate said “this is something we have examined before…we have made proposals for the reduction of the VAT which has not been approved….and proposals for raising the tax threshold.”
He explained that the Tax Reform Commission will be pursued with the general intent of raising the tax threshold, reducing Pay As You Earn (PAYE) tax and reducing Value Added Tax (VAT) which currently sits at 16%.
Granger also spoke of the coalition’s intention to reduce the customs taxes that are being paid daily to import vehicles. He warned however that persons importing new vehicles will be able to benefit from lower taxes whereas persons who are importing older vehicles will have to pay more taxes.
He said that “it is a cockeye policy to tax new vehicles at such a high rate.”
He also pointed to the removal of any forms of taxation on the basic necessities that a household would need to survive on a day to day basis.