Guyana calls for increase of VAT

Guyana’s Finance Minister Dr. Ashn Singh, rejected calls for the reduction of the 16 percent Value Added Tax (VAT).



The commission is urging the government to use the surplus from the revenue to start the process of reforming the tax system.



It is also expressing satisfaction with the country’s economic growth this year.



Dr. Singh and the Private Sector Commission have called for increased monitoring of the VAT system to ensure greater compliance.