No tax increase or reduction in Budget 2015 – Jordan

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Parliament Buildings

By Jomo Paul

Parliament[www.inewsguyana.com] – Finance Minister Winston Jordan says that the APNU+AFC administration will not be making any changes to Guyana’s tax regime in its present state, when the Fiscal Budget for 2015 is presented to parliament on Monday, August 10.

Jordan made the statement while answering questions from reporters on Friday August 07, about possible increase of taxes to some items and decrease on others.

According to Jordan, any changes to the tax regime will be made when the 2016 Budget is presented to the National Assembly.

When asked how the current government intends to Finance the budget which should include a slew of increases for public servants among other projects, Jordan made it clear that whatever revenue is earned is sufficient to do so.

“Any Minister of Finance or budgeter will have had to assure himself of the sources of funding before he makes commitments on the expenditure side,” said Jordan.

He also explained that there will be somewhat a “refocusing of energies” at the Guyana Revenue Authority (GRA) to go after tax evaders and ensure that the optimal taxes are collected.

“We are going to make some serious efforts at tax administration; strengthening and enforcement,” said Minister Jordan.

10 COMMENTS

  1. Don’t know who advising Jordan…Pulling all da money from them commercial banks.. I ain’t a economist but think it gun be harder for you and me to get a loan now….No money to spend and do business… ain’t good for the country..

  2. Your pseudo-analysis ever astounds! Yet it never stands up to basic logic and facts. A one-eyed man is like a king among those who cannot or do not want to see.

  3. If the economy has yo stagnate in order to facilitate hard decisions about fixing this broken and corrupt system, then so be it. The August 10 Budget is just a stop gap measure until the 2016 Budget is presented, so let us not fool ourselves that miracles will happen on Monday.
    The PPP and its apologists can scream all they want about a post-May 11 economic slowdown, but the more we study the facts is the more we see the Guyana economy was built on quick sand.
    It will take, at least, five years to first wean the formal economy off the informal economy then rebuild the formal economy so that it is not exclusively dependent on government funds to stay afloat.
    With banks holding government funds, all borrowers – from businesses to home buyers – were at the mercy of the government. This is one sick joke.
    And come next year, if the same banks report massive losses, it will confirm that they were being sustained exclusively by the government and this is wrong.
    I do not know how anyone can praise Jagdeo’s economic bubble that is now going bust. The true state of Guyana’s finances is yet to be known.

  4. Is why allyuh so dense, how come yuh din know dey bin talking stupidness so dey cud get into powah?
    Stuuupphs, serve allyuh good. The guverment nevah had money. Ezz dee underground economy DAT had dee money. Let dem sign dee papah dat dee fat american bully want dem to do and yuh gun see how fads mph Guyana gun slide.

  5. Are these guys serious? Is either they don’t no how to prepare a proper budget or the previous government tax system was perfect.

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