Guyana MOF Presents 2025 Budget Speech

The Guyanese Ministry of Finance Jan. 17 presented the 2025 budget speech. The speech includes measures to: 1) increase the monthly income tax threshold to 130,000 Guyanese dollars (US$623) from 100,000 dollars (US$479), effective income year 2025; 2) increase the monthly old age pension (OAP) amount to 41,000 dollars (US$196) from 36,000 dollars (US$172), effective Jan. 1; 3) maintain the zero percent excise tax rate on petroleum products; 4) remove VAT on specific products, including agricultural machinery not previously abolished, automated poultry pens, veterinary supplies, and backup electricity generators; 5) increase the monthly public assistance payment amount to 22,000 dollars ...