Pressure buss pipe

Nov 04, 2022 Dem Boys Seh, Features / Columnists, News

Dem Boys Seh…

Kaieteur News – De pressure de boss man of de Waterfall paper bin applying finally pay dividends. De Vee Pee buckle under de pressure and announce dat de new fiscal terms of future oil agreements gan gat a 10% royalty. Please note is fuh future oil agreements.

Glenn Lall been calling fuh higher royalty rates fuh a lang time. He keep up de pressure and now de government announce dat future oil deals gan gat 10% royalties. But dem nah talking about de 11 billion barrels in de Stabroek Block wah only paying 2%. So de fight fuh a better deal gat to be kept up.

But despite Jagdeo plans for future oil deals, dem oil companies gan still be smiling. Because de Pee Pee Pee does collect with one hand and give back to investors with de odder hand. Dem proposing a 10% royalty but dem also only collecting a small corporation tax of 10%.

Dem local companies gan complain. Because de local corporation tax is 40% fuh commercial companies; non-commercial companies paying 25%.

So while royalty rates fuh future companies looking nice fuh Guyana, de corporation tax is a giveaway and dem local companies gan be asking fuh a 10% corporation tax across the board.

De fact dat de government talking about a 10% royalty shows dat dem know dat a higher royalty rate is possible. But de Americans gat dem in a vice and dem can’t touch de Exxon contract. By de time Exxon done with we, de only royalty we gan able fuh talk about is de King of England.

Talk half. Leff half !