Dear Editor,
The elections for a new parliament and president are on but even with a new AFC government in place, the developmental challenge left behind by the Jagdeo regime remains mammoth. Thus a national front government as being advocated by the AFC is vitally important to solve this Jagdeo crisis. Let us be clear however, no one who is potentially a candidate for a forensic audit investigation because of corruption can be considered for a national front government. The new AFC government will have to put the strongest of managements in place to work with the private and non-profit sectors to unleash their potential. That is why the AFC has made such a bold effort to reform the tax system as our opening salvo. It is our core belief that we must unlock the private sector from the oppressive PPP tax system. An end must come to the years of high taxation under the PPP.
In this regard, we are going to reduce both types of corporation taxes. The AFC will reduce corporation taxes from 30% to 25% in the first year for the non-commercial types of businesses, basically non-trading business. With respect to commercial companies (the trading types of business), the AFC will reduce the corporation tax from 40% as it is under the PPP to 35%. This measure is designed to put more money into the hands of the private sector to stimulate new investments, recognizing the poor levels of investment in the private sector under the PPP.
The goal is to immediately shift the focus from treating the private sector as a milking cow to genuine partnership focused on longer-term development. The private sector must be helped to become the primary job creation machinery in Guyana. This is expected to permit Guyanese to build better lives for themselves with new jobs, a more buoyant private sector and a fairer government.
Another policy position from the AFC, the party that encourages one and all to vote reason, not race.
Yours faithfully,
Sasenarine Singh
