CARIBBEAN: Thousands of Guyanese to stop paying income tax as threshold increases

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CARIBBEAN: Thousands of Guyanese to stop paying income tax as threshold increases
Jordan

winston-jordan-guyanaCARIBBEAN 360 –  Over 68,000 workers will be removed from the income tax roll, as a result of an amendment to the Income Tax Act that will see the income tax threshold increased to GUY$660,000 (US$3,248) from GUY$600,000 (US$2,952).

That was among the measures outlined by Minister of Finance Winston Jordan as he presented the 2016 National Budget.

He also delivered the news that promised salary increases for public servants for this year, would have to await the conclusion of discussions with the relevant unions.

“The government understands the disappointment this will create among public servants, but wishes to assure them of our commitment to their welfare and advancement. We ask that they give the collective bargaining process an opportunity to work,” Jordan said.

Among the other measures announced were a slight increase in pensions for almost 50,000 senior citizens.

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