Finance Minister Dr Ashni Singh on Wednesday disclosed that government was able to grow its tax revenue collection by 16.8% in 2021 which amounted to $255.1 billion in earnings.
The disclosure was made during his budget presentation to the National Assembly where he informed that tax revenue collections accounted for 96% of the total current revenue collected. In 2020, Guyana collected $218.3 billion in taxes.
“Mr Speaker, the strong performance of the economy and expanded activity across multiple sectors resulted in revenue gains that more than offset the annualised loss from the revenue measures implemented in the 2020 and 2021 budgets. As a result, total current revenue net of inflows of the Guyana REDD+ Investment Fund (GRIF) in 2021 was $265.8 billion, 16.7 percent above 2020 collections,” he said.