Dear Editor
Currently in Guyana, Corporation Tax for non-commercial companies is 30 per cent; 40 per cent for commercial companies and 45 per cent for telecommunication companies. These rates should be abolished by creating a single reduced rate for corporation tax set at 25 per cent which creates fairer taxation as high corporation taxes are burdensome to companies.
I am also advocating that the lower rate (28 per cent) and the higher rate (40 per cent) of income tax be unified and set at 25 per cent as high taxation discourages people from paying their fair share of taxes.
While these reductions in taxation to 25 per cent will lower Government revenue, it is believed that our revenue from the discovery of oil can vastly offset this loss.
It is time for the PNC led APNU/AFC Government of President David Granger wise-up and not squander this magnificent opportunity to do the right thing.
Yours faithfully,
Sean Ori
