Vice President Bharrat Jagdeo yesterday announced government’s intervention to remove several taxes from the mining sector to the value of $1.9b to cushion the rising cost of operations.
While meeting with miners from the Guyana Gold & Diamond Miners Association and other stakeholders in the mining industry, Jagdeo disclosed that government will reduce the final tax applied to miners’ income, withdraw the current 10% Tributors tax, and the 14% VAT charged on lubricants.
“This is a combined package of maybe $1.9 billion that the industry will see returned to it,” he noted as his announcement was welcomed with loud applause from those present in the audience at the Arthur Chung Conference Centre.
