No new taxes for budget 2018 – Min. Jordan

DPI, GUYANA, Monday, October 9, 2017

The National 2018 budget will have “no new taxes” Minister of Finance Winston Jordan has assured.

Minister Jordan, at a press conference held in the Ministry of Finance’s boardroom, said Budget 2018 seeks to provide an incentive to some sectors and promote small business growth.

“Anything in this budget is about cleaning up or providing an incentive or two as promised. We promised some sectors we will see how we can support them in this renewal,” Minister Jordan added.

Budget 2018 will also seek to create the conditions for small business growth. “All small businesses, all entrepreneurial activities that can increase the pool of household income, community income, and the national income are to be considered and encouraged,” he noted.

The Minister pointed out since his administration took office, it has worked to reduce taxes for the Guyanese people. These include the removal of VAT from a range of products and the removal of tax from NIS and increasing the public wages.

“I’ve never introduced a new tax they were all the same tax. All we were doing is playing cards we were shuffling them around and so forth,” he explained.

The Ministry of Finance today wrapped up budget consultations. The Finance Minister noted this year his ministry has “broaden the pool” of persons who participated in the consultations to include a wide selection of youth and young entrepreneurs among the “traditionalists”.

Minister Jordan summed up the consultation as being generally positive. He added that the focus of discussions remained on the “traditionalist sense” of economic stimulation.

The Minister is expected to present the 2018 Budget to the National Assembly in November.

 

By: Tiffny Rhodius