The Guyana Gold and Diamond Miners Association (GGDMA) yesterday hailed Tuesday’s consultations with Vice-President Bharrat Jagdeo as a major success.
In a statement, the GGDMA said it welcomes, in particular, the government’s move to reduce the Final Tax on income from gold produced, declared, and sold. Currently, the tax is 3.5 percent; however, it will be reduced to 2.5 percent.
Another major development that the Association welcomed is the abolition of the 10 percent Tributors Tax which miners were subjected to for many years.