While a number of indicators point to Guyana’s economic growth declining, one thing that isn’t declining is tax collection. The statistics show that for the year 2017, tax and non-tax collection rose to $194.7 Billion.
The 2017 end of year outcome report states that out of this, tax revenues accounted for $171.2 Billion. At the heart of this increase in tax revenues, which account for 87.9 per cent of total revenue, is the government raking in more taxes than ever.
For instance, there was a $1 Billion or 1.4 per cent rise in the collection of income tax; $600 Million or a 3.5 per cent hike in import duty collection and a $300 Billion or 0.4 per cent hike in Value Added Tax (VAT) and excise tax collection.
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