Oil companies must pay the same taxes too!

Feb 14, 2021 Front Page Comment, News

Kaieteur News – The Senior Minister within the Office of the President, Dr. Ashni Singh, said it himself in his presentation of the 2021 budget: 96 percent of government revenues were derived from tax collections. That amounts to a whopping G$218.3B out of G$227.4B.
We encourage our citizens to take a closer look at the numbers behind that 96 percent tax collection. One thing stands out: It is Guyanese, YOU and I, who are shouldering the bulk of those taxes. It is Guyanese who are feeling the pinch as a result of the country’s high taxation on personal incomes.
And that is why we are angry and disgusted because the oil companies are paying next-to-nothing in taxes. And to add insult to injury, they are ripping us off on our wealth.
Why is Exxon allowed to benefit from a virtual tax free status while the ordinary man is being deprived of a share of his earnings and even has to pay VAT on some of the purchases he makes for basic items in the supermarket?
Why are Guyanese burdened with so many taxes – income tax, property tax, company taxes, excise tax, value-added tax, professional fees, capital gains tax and estate duties – while foreigners, who are exploiting our oil, gold, bauxite and timber, are doing so without paying a dollar into our Treasury? What manner of inconsiderate leaders we have, who would agree to this level of tax discrimination?
The Senior Minister with responsibility for Finance was proud to announce no new taxes on Guyanese. He is right! We have enough taxes already. We do not need more. What is needed is a levelled playing field by insisting that the oil companies pay the same taxes as we do.

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