$53 billion raked in from VAT, excise taxes last year

Finance Minister Dr Ashni Singh during his 2012 Budget presentation yesterday in the National Assembly. (Photo by Anjuli Persaud)

VAT and Excise Tax raked in $53 billion in 2011, an increase of 9.7 percent over the takings of 2010, in a year when the Guyana economy recorded 5.4 percent growth, with the non-sugar economy achieving even more rapid growth at 5.6 percent.

This is in a year that saw mixed fortunes in agriculture production and better outcomes for mining and gold, even though bauxite continues to be precarious, Minister of Finance Dr Ashni Singh said yesterday