Tax relief was this afternoon announced in the 2022 budget on the import of new motor trucks, haulers, pickups and other equipment.
Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh this afternoon announced the following:
a) In relation to importation of new motor trucks of any tonnage for transport of goods (new for the purposes of this paragraph refers to vehicles less than four years old), we will remove the 10 percent excise tax as well as the 14 percent VAT that currently apply.
b) In relation to importation of new haulers for pulling containers or similar vehicles for pulling, we will remove the VAT of 14 percent that currently applies.
c) In relation to importation of new double cab pickups below 2000 cc we will remove the currently applicable 10 percent excise tax altogether, while for new double cab pickups between 2000 and 3000 cc we will reduce the excise tax from 110 percent to 75 percent.
d) In relation to importation of new single cab pickups below 3000 cc, we will remove the currently applicable 10 percent excise tax altogether.
iii. Reducing the Cost of Cranes, Safety Equipment, and Oil Spill Equipment
Mr. Speaker, still on the subject of improving competitiveness of Guyanese businesses and enabling them to ramp up their equipment fleet, we will also remove the 14 percent VAT on cranes, safety equipment, and oil spill response equipment, all as part of ensuring that as many Guyanese businesses as possible can equip themselves accordingly.
