AS sure as there is a tomorrow, businesses will pass on to customers some portion of the input VAT costs relative to electricity and water. Additionally, for other increases in tax costs, businesses will also raise prices and pass the costs on to their customers. Due to the foregoing factors, point number one below should be a necessary change to the 2017 budget, submitted to the National Assembly for approval. Points two and three express in a positive way the type of liberty and justice system which should be apportioned and be inherent to the Guyanese way of life.
1. Limit the 14% VAT on electricity and water to non-residential dwellings, and remove any exemption threshold for such entities.
2. Freedom to travel abroad must not be prevented by an order from the Guyana Revenue Authority (GRA), with the order arising from a taxpayer’s indebtedness to GRA.
3. Any withdrawal by GRA from an entity’s or person’s bank account/s for tax debt, must result from a court ruling.