Guyanese should be benefitting from 2020 tax measures- AG

Guyanese should already be benefitting from the tax relief measures announced in the 2020 Emergency Budget.  

Attorney General and Minister of Legal Affairs, Hon Mohabir Anil Nandlall said the tax measures have already been assented to by His Excellency Dr. Mohamed Irfaan Ali and “Orders have been enforced since October 5th.” 

“Therefore, the public should be enjoying all the benefits which flow from those tax measures. So, VAT on water and electricity, construction materials et cetera that we took VAT off from, cannot be charged. VAT has been removed from those items,” the AG said on his weekly “Issues in the news” Facebook programme.

The Attorney General said he hopes the business community has adjusted its accounting system to incorporate the changes.  

Days before the presentation of the $329.5 billion Emergency Budget, President Ali announced over 40 relief measures, which he said would buttress the finances of citizens and several sectors.

Among those measures were the removal of the 25 per cent corporate tax on education and health and the removal of VAT on medical supplies. 

The Head of State also announced VAT removals on electricity and water, hinterland travel, building and construction materials and mobile phones.

VAT removals were also ordered on fertilisers, pesticides, agrochemicals and key inputs in the poultry sector. VAT was also removed from all exports. 

The AG said, “serious adjustments” have to be made at the various relevant agencies and in the commercial sector to ensure the population benefits from those measures.

“I just want to confirm that they are all enforced and people now going to the shops and the stores should not be paying the rate of taxes they were paying prior to the budget,” the AG said.  Meanwhile, the Guyana Revenue Authority has already started informing the public about the changes.