President of the Tourism & Hospitality Association of Guyana (THAG) Shaun McGrath has told Stabroek Business that the reduction of the Value Added Tax (VAT) on goods and services associated with the industry would significantly reduce the cost of the tourism product for visitors and locals alike.
“Tourism is the only export industry where VAT is applied. We deserve to be treated like an export industry. Our taxes on tourism are amongst the highest in the world,” McGrath said, adding that one of the benefits that will accrue from the removal of VAT from the sector would be that it would make internal tourism more affordable for Guyanese residing at home.
Meanwhile, McGrath, who is also Chief Operations Officer of Cara Hotels disclosed that THAG has been charged with administering a national tourism development fund which accrues from a contribution of US$1.00 per day per room garnered from guests at local hotels. “It is entirely voluntary and while it is placed on guests’ bills,
