The AFC is reiterating its taxation policy which resolves to reintroduce allowances in the tax system for dependents to allow parents to better provide for their families, in the wake of the rising cost of living.
In a press release the party said a fixed tax threshold which makes no provision for dependents allowance is divorced from the harsh Guyanese reality which makes providing for children a difficult and uphill task. “The AFC is committed to the establishment of a dependent allowance calculated at half of the income tax threshold which translates to $20,000 per month or $5000 per week per child,” the release said. It explained, for example, that a parent of two children (who must be minors) who earns a gross salary of $80,000 per month would be eligible to access the dependents allowance and thus would pay no income tax.
The party recalls that in the March 12, 2009 issue of the Stabroek News, Commissioner-General of the
