The recently formed Change Guyana party wants to change the taxation system in Guyana and is promising that if it is elected to government, there will be a complete overhaul.
At the party’s weekly press conference today, the focus was on fixing the tax system.
Presidential Candidate for Change Guyana, Robert Badal, said when it comes to taxes in Guyana, it is a case of “state extortion”.
He said there are just too many taxes being paid by ordinary Guyanese and that has to change.
Among the changes, Change Guyana wants to implement would be a 2% reduction in the current 14% value-added tax, and a more than 30% reduction in taxes on imported vehicles, according to the party’s Prime Ministerial Candidate, Nigel Hinds.
Mr. Hinds said Change Guyana would also increase the income tax threshold to $100,000 per month so that more persons would be able to take home more money when they are left out of the tax net.
He said the party would also repeal a number of taxes applicable to the business community so that businesses could produce more.
Changhe Guyana wants to repeal the property tax, the estate tax, and the capital gains tax.
Hinds said the repeal of those taxes will reduce the tax collected by less than 3% for the specific taxes and aid local businesses.