The $102.9B Budget presented by Finance Minister Saisnarine Kowlessar to the National Assembly will see a significant portion of the working force being exempted from tax.
The personal income tax allowance (threshold) has increased from $240,000 per annum to $300,000 per annum which in fact represents an increase in the monthly income tax threshold from $20,000 to $25, 000. This will eliminate 20,000 more Guyanese from paying income tax.
Kowlessar aslo proposed to replace the current rates of Personal Income Tax of 20 percent and 33 1/3 percent with a single rate of 33 1/3 percent.
Guyana 360: This augers well for Public Servants...We are just wondering if the GPSU and its cogs have what it takes to pull off a strike...We are waiting...By the way we were out having our usual lunch and beers at a popular chineeeee shop on Robb St. when a man told the chineeeee man that the Govt. just treating the public servants nice for this year to get votes...That comment jump started a major argument that eventually boiled down to one comment...So what if they doing things to get votes...Its the Guyanese people to decide if they will sell their votes and the opposition to expose the Govt. before the Guyanese people sell their votes.