We the innocent, led by the unknown, are doing the impossible for the ungrateful!
We have done so much with so little, so we are now qualified to do anything with nothing!
Wednesday, January 19, 2011
Private Sector Commission lauds 2011 Budget
The Private Sector Commission has lauded the 2011 National Budget presented on Monday, saying that the measures contained therein vindicate the representation that the body has been making for years with regard to taxes, and calling the lowering of corporation tax “a leap of faith in the private sector.”
Minister of Finance Dr. Ashni Singh on Monday presented the $161.4B 2011 National Budget in the National Assembly.
“We congratulate the Minister of Finance. We believe that he has made a good case for some of the reforms that have taken place in our country. We believe that, in fact, it is a watershed moment for Guyana, especially in the area of corporate tax reform,” said Chairman of the PSC, Ramesh Dookhoo, at a press conference, at the PSC’s office on Waterloo Street.
President of the Georgetown Chamber of Commerce and Industry Komal Ramnauth (left), Chairman of the Private Sector Commission Ramesh Dookhoo (centre) and Executive Director of the PSC Roubinder Rambarran at a press conference on the national budget yesterday
This year, the rate for corporation tax has been adjusted downwards from 45 to 40 percent, except for telephone companies. Further, the corporation tax for non-commercial companies has been revised from 40 to 35 percent.
“We believe that the reduction of corporation taxes is a leap of faith in the private sector by the Government of Guyana, and the PSC feels vindicated for its collaborative efforts with Government to bring various matters of the National Competitiveness Strategy to a head,” said the PSC Chairman. Read more.........