Latest update March 27th, 2025 8:24 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Further tax reduction on diesel announced

Nov 01, 2009 News

Minister of Finance, Dr. Ashni Singh, has announced a further reduction in the tax rate on diesel following a previous reduction he had announced in mid-June.
According to Minister Singh, with effect from today, the tax rate on diesel would be slashed to 20 percent. At the start of this year, diesel was being taxed at 40 percent, until June when the rate was reduced to 30 percent.
Minister Singh explained that this decision was taken in light of the upward movement in the imported cost of refined fuel products observed in recent months. In the case of diesel, acquisition cost has climbed to US$90.72 per barrel, up from US$76.44 per barrel in mid-June.
The reduction of the tax rate on diesel is intended to help counter the increase in the world market price, cushion the impact on the cost of production of goods and services in the agricultural, fishing, manufacturing, commercial, and the services sectors, and ultimately minimise the impact of adverse external developments on domestic consumers.
Minister Singh also pointed out that during last year, several successive reductions in the excise tax rates on fuel were implemented by Government at a total cost of $4.2 billion, to ensure that consumers were protected from volatile world market prices.

Similar Articles

The Glenn Lall Show|| March, 17th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

𝐓𝐒𝐔, Region 2 book semi-final spots as teams look towards the finale

𝐓𝐒𝐔, Region 2 book semi-final spots as teams look towards...

Mar 27, 2025

2025 C𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐞𝐫‘𝐬 𝐓𝟐𝟎 𝐂𝐫𝐢𝐜𝐤𝐞𝐭 𝐓𝐨𝐮𝐫𝐧𝐚𝐦𝐞𝐧𝐭… Kaieteur Sports- The Tactical Services Unit (TSU)...
Read More
World Athletics recognize AAG Elections

World Athletics recognize AAG Elections

Mar 27, 2025

Ramdehol named Berbice skipper ahead of GCB U17 Inter- County tournament 

Ramdehol named Berbice skipper ahead of GCB U17...

Mar 27, 2025

National player Nigel Bryan represents Guyana at World Table Tennis Chennai Contender event

National player Nigel Bryan represents Guyana at...

Mar 27, 2025

Newton embarks on two-week training in Paraguay

Newton embarks on two-week training in Paraguay

Mar 27, 2025

Kennard Memorial Turf club expresses heartfelt thanks

Kennard Memorial Turf club expresses heartfelt...

Mar 27, 2025

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]