AFC wants Government to increase Income Tax threshold to $100,000

One day before the presentation of the 2022 National Budget, the Alliance For Change (AFC) is calling on the Government to increase Income Tax threshold is $100,000.

In a statement on Tuesday, the AFC said “the Government should set the income tax threshold at $100,000 and ease the burden off the backs of low-income earners.”

The current Income Tax threshold is currently at $65,000.

The party noted that Guyanese have seen increases in the price of every commodity, locally grown and produced or imported and “the government of the day has failed to offset these increases to bring ease to the Guyanese people.”

As such, the AFC said the economy is seeing massive growth due solely to earnings from the oil industry while ordinary Guyanese are faced with challenges to meet their daily needs.

“…the income tax threshold must be set at $100,000. Guyana, an oil-producing country, is projected to reach 340,000 barrels per day, and where the government will be using oil revenues to prop up the economy, nothing less would be acceptable,” the party said in its statement.

The 2022 National Budget will be presented to the National Assembly at 14:00h on Wednesday.