Taxes are the traditional way that governments “earn” money to deliver services to people. But there is a big problem with the way our governments have done it for 50 years.
With the start of exports of oil resources, Government has a new source of funds to use on your behalf. The truth is, if the oil company contracts are properly managed, and we oversee the oil production competently, Government should not have to come to citizens to ask for funding.
The oil resources–all our natural and mineral resources in fact–are not the property of any Government or any member of the Government. Change Guyana commits to dedicate the oil revenues exactly as they should be used–to deliver services that Government owes to citizens. That means, we will immediately reduce the burden of taxation on working Guyanese and Guyanese companies.
We understand the oil revenue has just started to grow. We will make immediate reductions upon entering government and promise to continue reducing taxes as the oil revenues grow.
Change Guyana will:
- Remove taxes on your personal income on the first $100,000 or less
- Reduce VAT from 14% to 12%
- Make private cars more affordable
- Remove taxes on new electric and hybrid cars
- Abolish private property taxes
- Reduce stamp duties by 50% for all first time home buyers
- No taxes on internet data, electricity and water
- No import taxes on machinery for farming, mining and other manufacturing industries
- Give all farmers tax-free status
- Reduce taxes for petrol and diesel
- Reduce import taxes on all cell phones and electronic devices
- Reduce import taxes on medicines needed to treat chronic life-threatening diseases–heart disease, diabetes, high blood pressure, cancer
- Levy no taxes on alternative and solar energy household components
- Launch a Public Private Partnership National LED Bulbs Program