The National Assembly last evening passed the Income Tax (Amendment) Bill 2012 which puts the legal framework for the announced increase from the Income Tax threshold from $40,000 to $50,000 per month.
Speaking on the bill, Finance Minister Dr Ashni Singh said it was a simple piece of legislation aimed to give effect to the announcement he made in his March 30 budget presentation. He said he believed it was a “welcomed measure” for all Guyanese.
The bill was passed moments after, the House passed this year’s budget minus $20B of the original $192.8 B budgeted.
