The Guyanese Ministry of Finance Jan. 15 presented the 2024 budget speech. The speech includes measures to: 1) increase the monthly income tax threshold to 100,000 Guyanese dollars (US$478) from 85,000 dollars (US$407), for income year 2024; 2) increase the monthly old age pension (OAP) amount to 36,000 dollars (US$172) from 33,000 dollars (US$158), effective Jan. 1; 3) maintain the zero percent excise tax rate on petroleum products; 4) remove VAT on specific products, including fire extinguishers, smoke alarms, sports equipment, and essential cell phone accessories; 5) increase the monthly public assistance amount to 19,000 dollars (US$91) from 16,000 dollars ...
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