Deodat Indar

Businessman and chartered accountant ,past President of the Georgetown Chamber of Commerce and Industry, endorsed the candidacy of Irfaan Ali for the presidency of Guyana at the upcoming 2020 general elections. Also PPP/C Candidate.

Mr. Indar claims the following:

That the government has spent all the monies and sold all of the gold held in reserves at the Central Bank. FACT: A cursory check with the Bank of Guyana will confirm that our reserves have always been positive. Additionally, reserves of the Bank are held distinctly and separately from the Consolidated Fund, the latter of which is used by Government for expenditure.

Huge dip in gold reserves points to Govt.’s “spend and borrow” mentality

Chartered Accountant, Christopher Ram is concerned at what he described as government’s “spend, spend, spend, borrow, borrow, borrow” mindset.
He says that this is reflected in the management of the nation’s resources such as gold. The Chartered Accountant said he is left to worry about what this would mean for Guyana’s coming oil wealth.
In this regard, the Chartered Accountant referenced a recent statement by Bank of Guyana, which spoke to the use of the nation’s gold reserves. Ram noted that available figures show that last year, the gold reserve was at $4.8B, but up to April 11, 2018, the reserve was $1.9B. This shows a significant decline in the gold reserves.
There were criticism about the decline in reserves in the media but Bank of Guyana was not happy with it.

https://www.kaieteurnewsonline...nd-borrow-mentality/

One month after the APNU+AFC Coalition took office in June 2015, the reserves move from $16.268B to $15.528B.

By June 2016, the reported figure was $12.510B.

In June 2017, the gold reserves further declined to $4.877B.

By June 2018, it went further down to $3.128B.

As of June 2019, Guyana’s gold reserves stand at a meagre $589.3M.

While the significant reduction, there was no explanation from the Government as to what these funds were spent on and why the significant reduction of the gold reserves.

The depletion of Guyana’s gold reserves is a whopping 96.4 per cent.

FACT: The reserves of the Bank of Guyana are used, principally, to pay for the imports of fuel and the servicing of Guyana’s external debts. All other imports are financed through the commercial banks, foreign currency accounts retained by approved persons and/or foreign direct investment. The Central Bank’s reserves are adequate enough to meet the identified imports.

All of the reports from the international financial institutions on Guyana’s economy including the most recent IMF Article IV Country Report never commented negatively on the state of Guyana’s reserves. In fact, these reports have lauded government’s efforts to avoid the presource curse and its management of the economy.

The questions are where Mr.Ram, get the data from ,did he used data from the country reports ?

Huge dip in gold reserves points to Govt.’s “spend and borrow” mentality

https://www.kaieteurnewsonline...nd-borrow-mentality/

What is Jordan rambling about again? Only the other day TK posted information that the government balance at BOG was negative $60B. The only context on that is the Coalition is broke and broken.

INDAR - That the government has increased taxes.

FACTS  Finance Minister’s budget speech, where he said “tax revenue is expected to increase by 8.9 per cent to 162.6 billion, reflecting a considerable increase in collections of VAT due to the measures to be implemented in 2017.”

VAT increase
Presented by Finance Minister Winston Jordan, the Report documents that Government — as a result of expanding the tax regime over the past two years — had garnered a whopping $97.2 billion in revenue for the first half of this year.
Collections from the application of the controversial 14 per cent VAT regime on an expanded base saw Government raking in $2.4 billion more that it had collected for the first half of the previous year.
The total VAT collected during the first half of 2017 is $19.3 billion.
The information contained in the 2017 Report details, “VAT from imports of goods grew by $1.2 billion, partly as a result of policy changes in Budget 2017.” This, too, was stated: “The value added tax on domestic goods also increased by $838.5 million, primarily due to higher payments from the telecommunication and wholesale and retail trade sectors.”
Taxes make up 88.3 per cent of Government’s total annual revenue collection, and Finance Minister Jordan has reported that internal revenue collection increased by $5 billion to reach $41.6 billion during the first half of 2017.
Collection for the same period in 2016 stood at $36.5 billion.
The Finance Minister attributes this increase primarily to a $2.3 billion growth in corporation tax payments made by several companies in the manufacturing and services sectors, as well as in the natural resource sector.

Petroleum returns
Withholding tax payments also grew by $865.5 million, mainly due to payments by two companies providing support services to the oil-and-gas sector and interest earned on savings accounts at commercial banks.
Personal income tax payments made during the period also increased to $10.8653 billion, some $265.3 million more than what was collected during the same period in 2016.
Money collected from petroleum products increased by $3.2 billion to $10.9 billion, offsetting the reduction given in excise tax on motor vehicles during the period under review. Excise taxes paid on motor vehicles during the first half of 2017 stood at $2.9 billion, a decline of $1.5 billion in what had been collected in the period January to June 2016, when excise tax payments stood at $4.4B. This decline is credited to a slow-down on the importation of vehicles into the country during the first half of 2017. Revenue collected from excise taxes on domestic alcoholic beverages did, however, increase to $2.1 billion, some $238 million more than what was collected in 2016, according to the Finance Minister’s Report.
Jordan credited this increase to two reasons: the Budget 2017 measure that amended excise taxes payable on alcohol consumption, and higher sales of beverages on the local market.

Imports/Exports
Importation of consumption goods reached US$231 million in the first half of 2017, and this growth was buoyed by an expansion in the importation of other non-durables. Importation of foodstuff (for final consumption) skyrocketed by 72.7 per cent, while importation of clothing grew by 9.9 per cent and footwear by 37.8 per cent, contributing to the increased taxes collected.
In contrast, importation of motor cars, beverages, tobacco, semi-durable and durable goods fell. The importation of intermediate goods, such as fuel and lubricants, chemicals, parts and accessories, did expand to lend to the increase in earnings experienced by Government.
Minister Jordan’s Report detailed that importation of such intermediate goods increased in the first half of 2017 to US$408.5 million, compared to US$350.3 million in the first half of 2016.
Conversely, importation of capital goods such as transport, machinery, and building materials fell by 25.3 per cent, 20.1 per cent, and 31.4 per cent respectively. Collectively, this represents an 11.3 per cent decline in revenue garnered from those sources, and represents a collection of only US$18.2 million in the first half of 2017.

Non-Tax Earnings
As it relates to Government’s non-tax earnings for the first half of 2017, Minister Jordan reported that this, too, rose to reach $11.3 billion, topping the figure for the same period last year by $567.4 million.
According to the Finance Minister, this increased collection is credited to “higher transfers from statutory agencies during the review period.”
Fees, fines and charges also reported a 4.2 per cent increase at end June 2017 to reach $684 million; while rents and royalties declined by 32.3 per cent, reflecting lower gold declaration from both Troy Resources and Guyana Goldfields.

Reserves Diminishing
Despite the increased domestic earnings which have resulted from the revised tax regime introduced by the APNU+AFC Coalition Administration over three consecutive budgets, international reserves held by the Bank of Guyana declined in the first half of 2017 to US$578.4 million, a decline of US$18.3 million from the US$596.7 million that had been collected during the same period in 2016, and a representation of 3.4 months of import coverage.

https://guyanatimesgy.com/govt...b-more-vat-revenues/

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

Dave ,

Vat Increase - is an increase in revenue collected ,not an increase in the tax ,actually the tax is decreased.

The same applies for Personal Income Taxes ,more revenue collected due to efficiency in collection while  the taxes have been lowered.

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

Django posted:

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

Well, if you doubt - rebut the man with your facts nah 

Django posted:

Dave ,

Vat Increase - is an increase in revenue collected ,not an increase in the tax ,actually the tax is decreased.

The same applies for Personal Income Taxes ,more revenue collected due to efficiency in collection while  the taxes have been lowered.

So you’re saying this fella is wrong also..

Mouth open, story jump out’ – APNU+AFC plans countrywide property tax increases

DEAR EDITOR,
The political parties, their local government election (LGE) candidates and political sycophants are presently out in full force, across the length and breadth of the country. One matter of importance in all eighty (80) local authority areas (LAAs) is property tax increases. The PPP/C’s national position – a position that all its local candidates firmly support – is they are unequivocally opposed to property tax increases in any of the LAAs. APNU and AFC clumsily deny any intention to increase property taxes, while simultaneously putting together the framework for massive increases in property taxes. Why else contract a Canadian Consultant firm for a new valuation system for property taxes around the country at a cost of US$1.5M (G$350M)? This exercise has started in New Amsterdam as the pilot LAA.
Last week, at a poorly attended APNU public meeting in their Georgetown stronghold, in front of the Stabroek Market, the PNC Chairwoman, Volda Lawrence, clearly took a side on this matter of national concern for citizens, no matter which community they live in. She chastised the PPP for promising no property tax increases, without stating clearly that APNU or the PNC opposed property tax increases in Georgetown, any of the municipalities around the country or any other LAA. It was a case of mouth open, story jump out.
The story that jumped out of Ms. Lawrence’s mouth was depressing – the PNC is not opposed to increases in property taxes and wants the option of property tax increases on the table in all the LAAs. In opening her mouth and letting the story out of the bag, there is a clear political distinction – the PPP/C wants the matter of property tax increases off the table, APNU wants it on the table. The AFC is trembling, desperately avoiding any discussion on this matter, while going along with the APNU+AFC plans, as announced in Budget 2018.
The property tax issue was raised during Budget 2018 by both the Minister of Finance and the Minister of Communities. When both of these ministers announced plans to introduce new valuation for properties in Guyana for the purpose of taxation, they signalled that APNU+AFC is planning massive property tax increases around the country.
Recognizing that the signal raised eyebrows and aroused a national resistance, APNU+AFC desperately tried to backpedal, by saying they have no immediate plans for an increase of property taxes, and that their plan to revamp property valuation has nothing to do with any intention to raise property taxes. They insisted they were simply raising the need for a better valuation system, insisting that the PPP/C’s conclusion that APNU+AFC plan to increase taxes was merely a PPP scare-tactic.
Most people did not buy this fancy story.
LGE 2018 is due in two weeks (November 12). As one crisscrosses the country, listening to what the local candidates and their national leaders are saying and listening to the community discourses, a number of issues and matters of concern are being raised, mostly by the residents and those candidates representing the PPP/C. The other candidates appear scared to address any of the matters of concern at the community levels.
Other than the property tax matter and dozens of local matters, like drainage and irrigation and community roads, there are other matters of great importance, including, but not limited to the Parking Meter travesty that the PNC-controlled Mayor and City Council (M&CC) of Georgetown intends to institute, the threat of increased tolls on the Berbice River Bridge – a threat that APNU and AFC are playing games with, the treatment of sugar workers, rice farmers, miners and land titling for Amerindians.
If you listen to APNU+AFC and their sycophants, you will not know that these and other matters are of interest to residents in the various communities. Candidates of APNU and the AFC are more obsessed with Bharrat Jagdeo and the PPP, not focusing on any of these matters of interest to the people.
The property tax matter exposes the contrast between the PPP/C candidates and the other contesting candidates in LGE 2018. The PPP/C candidates around the country have made No-Property Tax Increases an unambiguous campaign promise. The candidates of APNU and AFC are avoiding a discourse on this and other matters or, in the few instances when they are forced to, they dance clumsily around the issues.
With property tax, however, the truth is hiding in plain sight – the PPP/C is opposed and APNU and the AFC want to increase the property taxes.
Dr. Leslie Ramsammy

As the 2018 Local Government Elections (LGE) nears, Opposition Leader Dr Bharrat Jagdeo has expressed his belief that Government intends to force Local Government Authority Areas to increase taxes as neither the Alliance For Change (AFC) nor its governing partner, the A Partnership for National Unity (APNU) have been highlighting the issue on the campaign trail.

He noted that following the 2016 LGE, the PPP had not increased taxes, whereas the APNU/AFC stronghold areas saw increases for property rates and taxes.

Moreover, with property valuations on the horizon, the PPP General Secretary (GS) had promised that no increases in rates will be implemented in the areas his Party wins at LGE.

In a conference prior to this, Jagdeo had said that, “We have been in opposition to increasing the rates and taxes in this country, we believe this government has increased too many taxes, over 200 taxes. They are collecting 60 billion dollars more per year now compared to 2014 from residence, so we are opposed to any new burden on people’s backs.”

He also made the point that the move by the incumbent Administration to hire an international firm to conduct countrywide evaluations to properties could mean only one thing, that is, that the taxes for the populace would be increased.

The Municipal Property Assessment Corporation, a Canadian firm, was contracted by the government for approximately $330 Million to assist with the exercise.

https://www.inewsguyana.com/lg...m-on-campaign-trial/

Dave posted:

Django posted:

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

Well, if you doubt - rebut the man with your facts nah 

Do some work and look up the IMF Article IV Country Reports.

Django posted:

Dave posted:

Django posted:

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

Well, if you doubt - rebut the man with your facts nah 

Do some work and look up the IMF Article IV Country Reports.

Who me ... nah ... I knows the truth.

you said you dough all is accurate.. WTF ...

BTW , what have you found out different with the IMF report. summaries the damn ting nah. 

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

In a conference prior to this, Jagdeo had said that, “We have been in opposition to increasing the rates and taxes in this country, we believe this government has increased too many taxes, over 200 taxes.They are collecting 60 billion dollars more per year now compared to 2014 from residence, so we are opposed to any new burden on people’s backs.”

Here is what Jagdeo said.

The political parties, their local government election (LGE) candidates and political sycophants are presently out in full force, across the length and breadth of the country. One matter of importance in all eighty (80) local authority areas (LAAs) is property tax increases.

The PPP/C’s national position – a position that all its local candidates firmly support – is they are unequivocally opposed to property tax increases in any of the LAAs. APNU and AFC clumsily deny any intention to increase property taxes, while simultaneously putting together the framework for massive increases in property taxes.

Why else contract a Canadian Consultant firm for a new valuation system for property taxes around the country at a cost of US$1.5M (G$350M)? This exercise has started in New Amsterdam as the pilot LAA.

Dr. Leslie Ramsammy

Local authority property taxes ,goes back to development in their communities. It's not across the board ,it differs in each LA .I would assume the LA management determine the rates.

Back home our village residents have been paying LA taxes for years.

Dave posted:

Django posted:

Dave posted:

Django posted:

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

Well, if you doubt - rebut the man with your facts nah 

Do some work and look up the IMF Article IV Country Reports.

Who me ... nah ... I knows the truth.

you said you dough all is accurate.. WTF ...

BTW , what have you found out different with the IMF report. summaries the damn ting nah. 

You know the truth , help out a little , i know you have the ability to such.

Is Deodat Indar a graduate of Oxford Brookes University in the UK?

Sean posted:

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

That's all you can contribute to the discussion ?

Bibi Haniffa posted:

Is Deodat Indar a graduate of Oxford Brookes University in the UK?

Deodat Indar – a man from poverty to prosperity

Part 2

Part 1

Django posted:

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

The only blunder Ram made was supporting the Coalition and suing Jagdeo for the Babu Jaan speech. Every accusation against the Coalition was accurate.

Had it not been for Ram, PNC would have stolen the 18 million. 

Django posted:

Sean posted:

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

That's all you can contribute to the discussion ?

That’s what it boils down to. PNC can only break down a country. Waste and steal its reserves. Don’t try to put lipstick on PNC thieves and criminals !

Sean posted:

Django posted:

Sean posted:

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

That's all you can contribute to the discussion ?

That’s what it boils down to. PNC can only break down a country. Waste and steal its reserves. Don’t try to put lipstick on PNC thieves and criminals !

He’s the king for putting the lipstick on PNC / APNU / AFC . Bhai no business man works for FREE.. they can be fully retired..... but they were accustomed in seeing  the penny’s  coming every day. 

Sean posted:

Django posted:

Sean posted:

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

That's all you can contribute to the discussion ?

That’s what it boils down to. PNC can only break down a country. Waste and steal its reserves. Don’t try to put lipstick on PNC thieves and criminals !

Banna you gud ,anyway that's how some folks roll. Have you notice the camera man didn't pan the crowd.

Dave posted:

Sean posted:

Django posted:

Sean posted:

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

That's all you can contribute to the discussion ?

That’s what it boils down to. PNC can only break down a country. Waste and steal its reserves. Don’t try to put lipstick on PNC thieves and criminals !

He’s the king for putting the lipstick on PNC / APNU / AFC . Bhai no business man works for FREE.. they can be fully retired..... but they were accustomed in seeing  the penny’s  coming every day. 

Keep on guessing ,anywhere you look ,will come up empty.

Huge increase in spending by Granger administration

Django posted:

Dave posted:

Sean posted:

Django posted:

Sean posted:

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

That's all you can contribute to the discussion ?

That’s what it boils down to. PNC can only break down a country. Waste and steal its reserves. Don’t try to put lipstick on PNC thieves and criminals !

He’s the king for putting the lipstick on PNC / APNU / AFC . Bhai no business man works for FREE.. they can be fully retired..... but they were accustomed in seeing  the penny’s  coming every day. 

Keep on guessing ,anywhere you look ,will come up empty.

I share my opinion about Business men ... Djanjo. Why the defence. 

Dave posted:

Django posted:

Dave posted:

Sean posted:

Django posted:

Sean posted:

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

That's all you can contribute to the discussion ?

That’s what it boils down to. PNC can only break down a country. Waste and steal its reserves. Don’t try to put lipstick on PNC thieves and criminals !

He’s the king for putting the lipstick on PNC / APNU / AFC . Bhai no business man works for FREE.. they can be fully retired..... but they were accustomed in seeing  the penny’s  coming every day. 

Keep on guessing ,anywhere you look ,will come up empty.

I share my opinion about Business men ... Djanjo. Why the defence. 

The defense is your insinuation , try no to lump everyone in the same basket.

Django posted:

Dave posted:

Django posted:

Dave posted:

Django posted:

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

Well, if you doubt - rebut the man with your facts nah 

Do some work and look up the IMF Article IV Country Reports.

Who me ... nah ... I knows the truth.

you said you dough all is accurate.. WTF ...

BTW , what have you found out different with the IMF report. summaries the damn ting nah. 

You know the truth , help out a little , i know you have the ability to such.

Been waiting for awhile , check link for documents on Guyana

https://www.imf.org/en/News/Ar...icle-iv-consultation

Django posted:

Dave posted:

Django posted:

Dave posted:

Sean posted:

Django posted:

Sean posted:

PNC is peddling cow Shyte. DJ is trying to put lipstick on a Pig. PNC bankrupt the country in three years !!!

Even PNC bai TK is fed up with them and chose to expose these hapless PNC clowns. 

That's all you can contribute to the discussion ?

That’s what it boils down to. PNC can only break down a country. Waste and steal its reserves. Don’t try to put lipstick on PNC thieves and criminals !

He’s the king for putting the lipstick on PNC / APNU / AFC . Bhai no business man works for FREE.. they can be fully retired..... but they were accustomed in seeing  the penny’s  coming every day. 

Keep on guessing ,anywhere you look ,will come up empty.

I share my opinion about Business men ... Djanjo. Why the defence. 

The defense is your insinuation , try no to lump everyone in the same basket

Heh Heh . 

Django posted:

Django posted:

Dave posted:

Django posted:

Dave posted:

Django posted:

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

Well, if you doubt - rebut the man with your facts nah 

Do some work and look up the IMF Article IV Country Reports.

Who me ... nah ... I knows the truth.

you said you dough all is accurate.. WTF ...

BTW , what have you found out different with the IMF report. summaries the damn ting nah. 

You know the truth , help out a little , i know you have the ability to such.

Been waiting for awhile , check link for documents on Guyana

https://www.imf.org/en/News/Ar...icle-iv-consultation

Banna me nah retire like you ... a you said you have all the time in this world to do wah you doing... rite ... so extract your points and prove your case nah man .. oh Rass . 

I am inclined to believe Deodat that to believe the Finance Minister.  Jordan is a liar, he lied about the signing bonus.  For me, that makes him untrustworthy.

Hey Djanjo, me buddy next to me say, you should add PPPC Critic next to yo name . It may earn you a PHD. 

Dave posted:

Hey Djanjo, me buddy next to me say, you should add PPPC Critic next to yo name . It may earn you a PHD. 

Ok will think out it .

Dave posted:

Django posted:

Django posted:

Dave posted:

Django posted:

Dave posted:

Django posted:

ksazma posted:

Bai Django. Ram always get accurate information. Remember how he exposed the Coalition for trying to huff de $18M?

I doubt all are accurate.

Well, if you doubt - rebut the man with your facts nah 

Do some work and look up the IMF Article IV Country Reports.

Who me ... nah ... I knows the truth.

you said you dough all is accurate.. WTF ...

BTW , what have you found out different with the IMF report. summaries the damn ting nah. 

You know the truth , help out a little , i know you have the ability to such.

Been waiting for awhile , check link for documents on Guyana

https://www.imf.org/en/News/Ar...icle-iv-consultation

Banna me nah retire like you ... a you said you have all the time in this world to do wah you doing... rite ... so extract your points and prove your case nah man .. oh Rass . 

Check, Gross Official Reserves

Zed posted:

I am inclined to believe Deodat that to believe the Finance Minister.  Jordan is a liar, he lied about the signing bonus.  For me, that makes him untrustworthy.

Check the IMF document link posted on this thread.

So how about the others who lie  ,are  they untrustworthy ? just asking.