AFC calls for tax relief in this year’s budget – 6th Feb 2013
The AFC, which holds seven seats in the National Assembly, said it is disturbed and troubled at the fact that no information is forthcoming from the Government on the so-called Tax Review Committee which was set up to research, review and report on reforms of the tax system.
AFC leader Khemraj Ramjattan today said it now appears that the Government was not being genuine in its commitment.
Ramjattan said that the current tax levels are draconian and oppressive. The party is convinced that individual, corporate and Value added taxes can be lowered and bring in even more revenues, but that could only happen if there is tighter enforcement of the tax laws to net those who avoid and evade paying taxes.
To cement his case, Ramjattan drew up two scenarios, where, for example, a person in Guyana, Barbados, Trinidad and Jamaica earns 12, 000 USD per annum. In the case of Barbados, the person would pay no taxes, in Trindidad they would pay $500, in Jamaica 1, 620, but in Guyana taxes would add up to $3, 000.
The Finance Ministry has invited opposition parties to budget talks this Friday and it is the AFC’s intention to press its case for tax relief measures in the budget, which is due in less than two months.