Prime Minister Addresses Concerns Raised About VAT
The government continues to resist calls to lower the 16% Value Added Tax, even with mounting pressure from the opposition and other groups. Last year, total value added tax and excise tax collections climbed, reaching a whopping 48.3 billion. Even with concerns that VAT places a significant burden on the pockets of citizens, Prime Minister Samuel Hinds in responding to those calls today said that the 16 % is no burden to the ordinary man.
Speaking during the 2011 budget debate, the Prime Minister said he believes that citizens can still afford to live a descent life especially since many of the basic food items have been o-rated.
The Prime Minister further believes that Guyana is in a better position than most countries which have since raised their taxes further to pay off national debts.
The opposition has long been calling on the government to revisit the 16 % VAT.