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Author Archives: Denis Chabrol

Gov’t to boost 12 police stations tackling domestic violence

by Derwayne Wills The security sector will receive a budget of $29.1B with some of that money going to upgrade 12 police stations across the country in their capacity to deal with domestic violence cases. This announcement made by Finance Minister Winston Jordan during his budget presentation falls within the 16 days of global activism to end violence against women ...

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Small Contractors to get one-off temporary NIS, GRA compliance certificates; new “trusted trader certificates” for importers

Small contractors will now be given Temporary National Insurance Scheme and Income Tax compliance certificates, removing a major stumbling block to them bidding for projects and programmes. “Mr. Speaker, currently bidders for contracts are required to have valid Income Tax and NIS compliance certificates. This has especially hampered small contractors from participating in the procurement process. While these requirements will ...

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GYD$9 billion for Guysuco ahead of “radical reorganising”

by Derwayne Wills Government has allocated $9B to assist the Guyana Sugar Corporation although more monies would be needed by the ailing public corporation. “The status quo of the sugar industry can neither be sustained nor maintained,” Finance Minister told the National Assembly during his budget speech. “As currently structured, the industry would require Government’s support to the tune of ...

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Passport fee, departure tax increased

The cost of acquiring a Guyanese passport and leaving Guyana will go up from January 1, 2017 when the new national budget takes effect. Finance Minister, Winston Jordan announced that the cost of acquiring a new passport has moved from GYD$4,000 to GYD$6,000. However, persons 65 years and older will no longer have to pay for that travel document. Overseas-based ...

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Income tax reduced for persons earning less than GYD$2 million per year; up for those earning above

Personal Income Tax has been reduced from 30 to 28 percent for persons earning less than GYD$180,000 per month and the Income Tax threshold has been increased to GD$60,000 or one-third of the gross salary, whichever is greater. Finance Minister, Winston Jordan said in the 2017 National Budget that an additional 7,600 persons would be taken off the tax register ...

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Updated: Environmental tax reintroduced; VAT to be paid on water, electricity; Old Age Pension increaesed

by Derwayne Wills  Guyanese will now have to pay Value Added Tax (VAT) on water and electricity consumption above a certain level, while the overall of Value Added Tax on businesses has been reduced to 14 percent on companies, Finance Minister Winston Jordan announced in the 2017 National Budget. In a move that has left many puzzled, Finance Minister Winston ...

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Guyana unveils solar energy plan; Mabaruma to get first solar farm

Guyana will next year construct the first solar farm as part of a larger plan to reduce the country’s fossil fuel bill and  prevent carbon emissions. “To complement public sector investment, the Government will be granting a one-off tax holiday of two years for corporation tax to importers of items for wind and solar energy investments, and for investors in ...

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Guyana records economic decline

Guyana’s economy  will record a 2.6 percent growth  in 2016 due to a decline in some prices and lower growth in several sectors, Finance Minister Winston Jordan announced on Monday. Delivering the 2017 National Budget, he told the House that the economy contracted from a projected 4.4 percent to a mid-year 2 percent and a further overall decline to 2.6 ...

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Isolated New York-based Guyanese distance themselves from APNU+AFC coalition

Despite President David Granger’s assurances that he has not distanced himself from the grassroots in favour of the elite, a number of New York-based Guyanese has slammed him for ignoring their pleas to be recognised and involved in the decision-making process. Convenor of the groups, Professor Asquith Rose on Sunday (November, 27, 2016) released a letter to President David Granger ...

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Govt blundered in failing to disclose Homestretch Development Inc. upfront

Viewpoint by David Hinds After careful study of the statements from the President and other members of the government along with those of members of the opposition regarding what has now become the controversial Homestretch Development Incorporated, I have three interrelated comments. First, why was this government or quasi-government company not made public at the time it was created? I ...

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