The issue of increased taxation is a contentious one

May 04, 2017 Letters

Dear Editor,
The current local reality of the economy begs the question where may the government get more bang for its efforts. Recently reported high revenue leakage in the gold industry, especially in the interior with resulting southern border issues appears to be the best opportunity to boost government revenue and foster GDP growth within the local economy. Currently the issue of increased taxation is somewhat contentious and business activity levels are not where they have been in the recent past. Enforcement of the VAT increase will also require resources that are limited and needed also for reducing the leakage of gold revenue in the interior.
Given the amount of government revenue in question, and the mentioned surrounding economic factors, a consideration of focusing efforts on the higher priority while allowing the local economy to recover may be a safe bet. The improvement will help ensure the VAT implementation is in sync with the improved economic activity.
Jamil Changlee

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News