While the Guyana Revenue Authority (GRA) collected $255 billion in taxes for the fiscal year ending December 2021, some $266.7 billion in tax exemptions were also granted with that amount slated to increase as the government further develops the oil and gas industry.
The information was contained in the Auditor General’s report examining the public accounts of Guyana for the year 2021. The report was laid in the National Assembly yesterday.
Auditor General Deodat Sharma said that the government estimated 2021’s revenue collection to be $242 billion but that number was surpassed with $255.086 billion collected and paid over to the Consolidated Fund. This represents a positive variance of 5%, equivalent to $12.995 billion.