Latest update April 5th, 2025 5:50 AM
Latest News
- Exxon admits to operating above production rates in EIAs
- Oil sinks to pandemic lows; metals, soybeans slump as China retaliates against U.S. Tariffs
- Israel has turned two-thirds of Gaza into no-go zones, UN says
- ‘If the President’s award means anything, he would terminate Ramson’- Protestors
- Power China, Kalpataru sign US$422M contracts for extension of transmission lines for GPL
UG Vice-Chancellor wants Govt. to Review Tax Laws
– Tax Act should offer deductions to individual donors
Dr. Ivelaw Griffith, Vice-Chancellor of the University of Guyana, wishes for the government of Guyana to
Dr. Ivelaw Griffith
review its tax laws. He believes that amendments should be made to allow individuals to benefit from tax reductions, when making donations to the tertiary institution.
Griffith said that Guyana’s tax regulations do not offer such an incentive to individuals who give to the university, it is only accessible by companies. To offer individuals this benefit, it would require changes being made to the Income Tax Act of Guyana.
Tax deductible expenditure reduces the amount of income tax an individual would owe to the government. The scheme is designed to encourage or reward individuals or companies for acts they would have done which are deemed beneficial to the country’s economy or environment.
In his first press conference held last Friday in the Education Lecture Theatre on the Turkeyen Campus, the Professor informed the gathering that, “Our university as any mature university has to ask individuals and companies to give.”
These amendments would benefit the University since the institution plans to seek assistance from individuals who have expressed intentions of making donations to the university. Some of these persons will be a part of a planned conference of education resource ambassadors. The event is scheduled to begin June 23, 2016 and culminate on June 25, 2016.
According to Griffith, the conference will be attended by 100 persons, 48 of which are overseas-based Guyanese. The contingent will include professionals, non-professionals, academics and businessmen who have expressed interest in contributing financially and technically to the enhancement of the institution.
The Vice Chancellor said that most of the participants of the conference are alumni of the university. Griffith told the gathering of media personnel that he is “…bringing them to ask one simple question; how can you help this university to raise funds?”
He said that the university is in a nation with more needs than the government can provide for the national institution. The vice-chancellor therefore believes that the onus lies with the university to extend its perimeter to get resources.
The university needs to look to the alumni in and out of Guyana including also the civic and business communities. The professor stated that the intention is to create a broad reservoir of resources.
The conference will be opened with a reception on Thursday June 23, 2016 at the Georgetown Marriott Hotel. The next day the contingent’s first site visit will be to the university’s Berbice Campus at Tain, East Berbice Corentyne.
The physical visits will provide the group with the opportunity to appreciate the challenges faced by the university. According to Griffith, when the members sit and discuss, they will have conversations built on their own looking, seeing, learning and appreciation of the realities which the university faces.
Funding for the conference will be shared between the overseas visitors, donations and the university. Griffith confirmed that the international participants will be funding their own travel expenses to get here. Donations will be provided by participants, private donors and the Ministry of Education which has committed to underwrite the Thursday night reception.
The event will require the attendees to brainstorm on an agenda for immediate, short and long term assistance.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
The One-Man Republic
Peeping Tom… Kaieteur News- There exists, tucked away on the margin of maps and minds, a country that has perfected... more
The U.S. “Joining” the Commonwealth: an unreasonable expectation
By Sir Ronald Sanders Kaieteur News- Recent media stories have suggested that King Charles III could “invite” the United... more
Weekend Cartoon
