Latest update September 8th, 2026 10:25 AM
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VAT no burden, no need to revise it – Jagdeo
Head of State Bharrat Jagdeo says that he does not see the Value Added Tax as a burden and as such, there is no need to revise it with a view to lower the rate.
This disclosure was made during a recent press briefing held by Jagdeo who said that the fact that the VAT collection consistently increases is just as a result of widening of the tax net.
The President said that the increase has been realised also because of the better performance of the economy over the years.
He spoke of the fact that the money is being invested in the social services, pointing to fact that Government has been paying the water bills for pensioners and they have continued to do so.
Jagdeo said that the administration has been making investments, speaking of the new hospitals being built.
The President made reference to the fact that come next year there will be some 300
additional doctors returning to Guyana and that will increase the wages bill.
He said that they did not believe VAT was a burden, pointing to the fact that with the advent of the new taxing system it eliminated five other taxes.
Minister of Finance, Dr Ashni Singh recently tabled in the National Assembly the mid-year report for Guyana, which stated that the Value Added Tax continued to skyrocket and continues to rake in beyond the projections.
For the first half of this year, Value Added and excise tax collections in the first half of the year amounted to $23.2 billion, this is an increase of 9.1 percent over the corresponding period in the previous year.
Opposition politicians have long complained that VAT is a burden that should be revised with a view to reduce the rate.
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