In this section we summarise and comment on the 2021 Budget measures in the Budget speech. Measures 6 and 7 listed below are measures announced in the September “Emergency” Budget and are already in effect. The proposed changes are subject to statutory amendments and certainly in relation to Item 1, no action can be taken until the relevant Order is published.
Readers are advised to follow announcements in the Press or by the Guyana Revenue Authority.
VAT and Duty Measures.
Ram & McRae comments
Specifically relating to Value-Added Tax, collections are projected to reduce from $72.03 Billion in 2019 to $63.9 Billion in 2020.
