Guyana MOF Presents 2023 Budget Speech

The Guyanese Ministry of Finance Jan. 16 presented the 2023 budget speech. The speech includes measures to: 1) increase the monthly income tax threshold to 85,000 Guyanese dollars (US$407) from 75,000 dollars (US$359), for income year 2023; 2) increase the monthly pension amount for old age to 33,000 dollars (US$158) from 28,000 dollars (US$134); 3) maintain the zero percent excise tax rate on petroleum products; 4) increase the low-income mortgage ceiling amount to 20 million dollars (US$95,704) from 15 million dollars (US$71,772); 5) abolish the applicable 14 percent VAT rate on the sale of residential properties, and new fully electric ...