Ksac, you are wasting time trying to explain simple , basic facts to shameless FILTH HEADS.

Jordan says VAT on electricity and water was recommended by Tax Reform Committee

Dec 10, 2016 

By Kiana Wilburg

For five days, Finance Minister Winston Jordan endured an onslaught of heckling, negativity, and insults from the political opposition during the debate of the 2017 budget. And though they were once again, not present for his rebuttal,

Finance Minister Winston Jordan

Jordan only concluded that “the gang is still up to its old ways”.
He made this, among other comments, during the wrap-up of the 2017 budget debate yesterday in the National Assembly.
There, Jordan thanked many for their support including his dedicated staff, President David Granger, members of the Government, House Speaker, Dr. Baron Scotland and Private Sector members. He even extended gratitude to the Opposition for their presence in the House.
Diving into his presentation, the Finance Minister commented that contributions from Members of the Opposition were consistently confused, disjointed or blatantly erroneous.
In this regard, he sought to make a number of clarifications, particularly as it relates to tax reform.
Jordan reminded that between 2009 and 2013, the PPP/C regime undertook two comprehensive studies on Guyana’s tax system and its administration. He noted that fundamental reforms were proposed in both studies, but the recommendations were not implemented.
Instead, Jordan said, in 2011 the PPP undertook major tax policy reversals when the Fiscal Management and Accountability Act of 2003 was amended to introduce more exemptions and remissions that ultimately made tax administration difficult and revenue losses significant.
While the changes in the tax laws have not been insignificant, Jordan said that the framework remained largely intact supporting combined high rates, a plethora of concessions and exemptions on a discretionary basis and high levels of evasion across sectors.
Except for the merging of the two main revenue departments, Jordan said that the tax laws and the administrative structures have remained largely unchanged.
Jordan reminded of the establishment of a Tax Reform Committee in 2015. The Finance Minister said that the Committee in fulfilling its terms of reference, identified a number of core areas for effecting change in the tax system.
The Committee said that there is a need for greater buoyancy in the tax system, since revenue, as a share of GDP, had not risen very appreciably in recent decades.
The Committee said that in order to compensate for a relatively high tax rate, and, also, to encourage increased flows of investment, the authorities have a mainly discretionary, insufficiently transparent incentive system, which has gotten out of control and, moreover, there is little evidence of its effectiveness. It stressed that a lowering of the corporate tax rate ought to vitiate the need for a plethora of tax incentives.
According to the Tax Reform Committee, broadening the tax base is required so as to both reduce the burden of existing individual and corporate taxpayers and enhance the revenue contribution of the “hard-to-tax” self-employed, the significant number of unincorporated businesses which pay little or no tax, and those who make up a relatively large informal sector.
It said that evidence disclosed that the VAT was not being applied across the country and was widely ignored by significant segments of the economy.
It stressed that there was an appalling level of tax evasion among professionals, with only a handful of doctors, accountants and lawyers reporting income over $10 million, requiring VAT registration.
With regard to VAT, it said, “Decrease the standard rate of VAT to 14 percent, and introduce an intermediate rate of 7 percent. Increase the VAT registration threshold from $10 million to $12 million. The water and electricity authorities should determine the levels of consumption required for an average household. VAT should be applied to levels above this amount.”
But even then, the Finance Minister said he was not convinced about tampering with VAT. As such, he enlisted the help of the Caribbean Regional Technical Assistance Centre (CARTAC).
That body, upon analysing the system, said that the numerous instances of zero-rated domestic supplies (of both input and final goods) and exempt imports have undermined the VAT base and its performance.
It has since made a number of recommendations, one of which includes that there be a tax on all fuels, electricity and water sewerage services at a standard rate.
But of all the clarifications he had to make, Jordan said that what was truly “lamentable, pitiable and laughable” in his view was the attempt by the Leader of the Opposition, Bharrat Jagdeo in painting himself as the Champion of the Poor in this society.
He said that Jagdeo is “the very man who bought prime, ancestral lands at pepper corn rates and built for himself, one of the most posh mansions in the country.”
He alluded to the fact that for all his life, Jagdeo has been swimming in a pool of luxury or created room for such where it did not exist. In this regard, he noted the Ex-Presidents’ Pension Bill and Jagdeo’s role in making changes for his own benefit.
“Mindful of the General Elections that were scheduled in 2006 and uncertain about his political future, the then President Jagdeo – now the Honourable Opposition Leader – caused to be introduced and passed, the Ex Presidents’ Pension Bill in 2004. The Bill was signed into law the same year by Jagdeo.”
Jordan continued, “Jagdeo’s salary in 2006 was $223,783 which would have given him a pension of $195,810. Having won the elections in 2006, Jagdeo set about fortifying himself, financially. Between 2006 and 2011, his salary increased from $223,783 to $1,304,503 or nearly 500%.”
The economist said on that salary, his pension would have been $1,232,756. Jordan stated that the current President’s salary is $1,729,607, giving PPP’s three ex Presidents their current monthly pensions of $1,513,406 each, for a total of $54,482,616 annually.
The Finance Minister said that this is equivalent to 83% of the annual increase in salaries granted to the then 26 Ministers in 2015.
“But I suppose that this is reflective of the Opposition’s approach. Based on their performance in their 23 years in office, it is clear that they have no guiding, coherent vision for the future; no concrete plans for achieving better economic and social outcomes for our citizens,” expressed Jordan.
The Finance Minister said, “this budget is the finest budget” that he has worked on and produced. He noted that in 1981, “under the indefatigable and indomitable Clarence F. Ellis”, the then Chairman of the State Planning Board, he was involved in the preparation and/or presentation of 25 national budgets.
Jordan confidently stated that the 2017 Budget is audacious in outlook; it represents a change in the narrative that has dominated the economy for the past 50 years, and is a paradigm shift.
In spite of the cries of the opposition and their call for a “do-over”, Jordan maintained that his 2017 Budget sets the stage for the transformation of the economy.

http://www.kaieteurnewsonline....ax-reform-committee/

Mars posted:

 

All Jagdeo had to do was beg. There were initiatives by many rich nations to forgive the debt of poorer countries. It's not by some great economic initiative that the Guyana debt was removed.  

I know many Guyanese who became wealthy during Burnham's reign so what's your point. Guyanese politics is all about opposition non-cooperation with the government in power. It's not limited to any one party but you clowns are too blind to notice this.

Garnger is not the one who raised the president's salary to where it is today. Jagdeo gave himself a 500% increase over 5 years and also a massive raise in his pension. That is beyond greed. The PPP government promised to refuse every penny of the salary increase for MP's. How many pennies have they returned after crying for months about that issue?

Jagdeo came into office in 2006. The PPP came into office in 1992. The debt that Jagdeo removed were accumulated before the PNC demitted office in 1992. If those initiatives were always there, why was the debt  there through the PNC demitting office in 1992 and still there when Jagdeo assumed office in 2006? There must have been other prevailing circumstances which caused it to be realized during his governance while not during the governance of those prior to him.

Today we are reading about a contraction of FOREX and banks limiting the amount of FOREX that businesses can buy. For a while during the PPP rule, we began to take those kinds of abilities for granted. Shortages and rationings are coming back.

For a year and a half, all Jordan has done is focus on what the PPP did prior to May 2015. So far, he hasn't had any time to focus on doing his own job. Unless his job is to only look in the rear view mirror.

Bibi Haniffa posted:

Jagdeo was President for 11 years in a growing economy.  Granger gave himself and his ministers a salary increase even before any of them got any work done.  And now they are producing a failing economy.

So you are blaming the collapse of the price of gold, the economy of Venezuela, the world demand for rice and sugar, and the drop in drugs exports on Granger?

Mr.T posted:

Bibi Haniffa posted:

Jagdeo was President for 11 years in a growing economy.  Granger gave himself and his ministers a salary increase even before any of them got any work done.  And now they are producing a failing economy.

So you are blaming the collapse of the price of gold, the economy of Venezuela, the world demand for rice and sugar, and the drop in drugs exports on Granger?

Maybe Granger was the wrong guy for the job. Leaders are challenged every day with changing trends. It is their job to find solutions to offset those challenges. Is Granger's only hope that those challenges go away on their own?

ksazma posted:

Mars posted:

 

All Jagdeo had to do was beg. There were initiatives by many rich nations to forgive the debt of poorer countries. It's not by some great economic initiative that the Guyana debt was removed.  

I know many Guyanese who became wealthy during Burnham's reign so what's your point. Guyanese politics is all about opposition non-cooperation with the government in power. It's not limited to any one party but you clowns are too blind to notice this.

Garnger is not the one who raised the president's salary to where it is today. Jagdeo gave himself a 500% increase over 5 years and also a massive raise in his pension. That is beyond greed. The PPP government promised to refuse every penny of the salary increase for MP's. How many pennies have they returned after crying for months about that issue?

Jagdeo came into office in 2006. The PPP came into office in 1992. The debt that Jagdeo removed were accumulated before the PNC demitted office in 1992. If those initiatives were always there, why was the debt  there through the PNC demitting office in 1992 and still there when Jagdeo assumed office in 2006? There must have been other prevailing circumstances which caused it to be realized during his governance while not during the governance of those prior to him.

Today we are reading about a contraction of FOREX and banks limiting the amount of FOREX that businesses can buy. For a while during the PPP rule, we began to take those kinds of abilities for granted. Shortages and rationings are coming back.

Jagdeo did not remove the debt. The debt was forgiven by the countries that we owed. There is a big difference. In fact, debt forgiveness started before Jagdeo came into office. 

Read about a man named Cheddi Jagan - After his election as President, Jagan demonstrated a commitment to democracy, followed a pro-Western foreign policy, adopted free market policies, and pursued sustainable development for Guyana's environment. Nonetheless, he continued to press for debt relief and a new global human order in which developed countries would increase assistance to less developed nations.

http://www.state.gov/outofdate/bgn/guyana/85054.htm

The banks limiting the purchase of foreign exchange is because it is being abused by businessmen from other countries where they are having a foreign exchange shortage. It is in Guyana's best interest to stop Trinidadians, Surinamese and Bajan businessmen from buying up large amounts of hard currency in Guyana. There is more foreign exchange in the Bank of Guyana now than when the PPP left office. This has been confirmed by the Governor of the Bank of Guyana who is a PPP appointee.

ksazma posted:

Mr.T posted:

Bibi Haniffa posted:

Jagdeo was President for 11 years in a growing economy.  Granger gave himself and his ministers a salary increase even before any of them got any work done.  And now they are producing a failing economy.

So you are blaming the collapse of the price of gold, the economy of Venezuela, the world demand for rice and sugar, and the drop in drugs exports on Granger?

Maybe Granger was the wrong guy for the job. Leaders are challenged every day with changing trends. It is their job to find solutions to offset those challenges. Is Granger's only hope that those challenges go away on their own?

Bhai, nah waste time with dat Chap. He would not know his head from his ankle.

Ksac, I am shocked he did not tell you dont blame Granger, blame the Sun, Rain, wind and grass.

Mars posted:

ksazma posted:

Result: National debt = 0. Jagdeo was very active in pursuing the removal of that debt which was accumulated during the 1st PNC era. Note that I purposefully used the word 'remove'.

The rest of your comment is baseless conjecture. I know many ordinary Guyanese who became wealthy during the 1992 - 2011 era and they did so trading in durable goods and consumables. That trend would have continued had the Coalition Opposition from 2011 not sabotaged all of Ramotar's initiatives.

Your 10.7% singing is only satisfying to you because it is actually 727% of Jagdeo's 2006 salary compared to Jagdeo's 2011 salary being 583% of his own 2006 salary. This is inspite of the Coalition government promising the Guyanese people that if they vote for them, they will correct the "misgivings" of the PPP government. To correct something means to place it at a level less than it currently is.

 

All Jagdeo had to do was beg. ?

And all what the PNC did was beg, borrow and tief!!  The debt forgiveness process started under Jagan or maybe even under Hoyte.  It was a long and difficult process, the point-man being BJ as Finance Minister.

Is funny how you PNC clowns turn things around.  The PNC bankrupt Guyana and the PPP had to get out from under the mountain of non-performing debt.  And now you turn around and call the PPP "beggars".  Well, maybe if your PNC did not reduce Guyana to beggar-bowl status, the PPP would not have had to do that.  And today, your hapless PNC inherited a nation which is financially sound with reserve surplus and the ability to service its debts!

ba$eman posted:

Mars posted:

ksazma posted:

Result: National debt = 0. Jagdeo was very active in pursuing the removal of that debt which was accumulated during the 1st PNC era. Note that I purposefully used the word 'remove'.

The rest of your comment is baseless conjecture. I know many ordinary Guyanese who became wealthy during the 1992 - 2011 era and they did so trading in durable goods and consumables. That trend would have continued had the Coalition Opposition from 2011 not sabotaged all of Ramotar's initiatives.

Your 10.7% singing is only satisfying to you because it is actually 727% of Jagdeo's 2006 salary compared to Jagdeo's 2011 salary being 583% of his own 2006 salary. This is inspite of the Coalition government promising the Guyanese people that if they vote for them, they will correct the "misgivings" of the PPP government. To correct something means to place it at a level less than it currently is.

 

All Jagdeo had to do was beg. ?

And all what the PNC did was beg, borrow and tief!!  The debt forgiveness process started under Jagan or maybe even under Hoyte.  It was a long and difficult process, the point-man being BJ as Finance Minister.

Is funny how you PNC clowns turn things around.  The PNC bankrupt Guyana and the PPP had to get out from under the mountain of non-performing debt.  And now you turn around and call the PPP "beggars".  Well, maybe if your PNC did not reduce Guyana to beggar-bowl status, the PPP would not have had to do that.  And today, your hapless PNC inherited a nation which is financially sound with reserve surplus and the ability to service its debts!

And that's my point exactly. Debt relief started under Hoyte and was continued by successive presidents. So when these clowns who worship Jagdeo try telling us that Jagdeo removed the debt, they are just being foolish.

Never was a part of the PNC so they were never my PNC. Guyana's economy being crippled was a joint effort of the PNC and the PPP. They were instructed by their Soviet masters to implement Socialist policies which were supported by both parties. The PPP stood up in Parliament and voted unanimously for nationalization of the main industries when the country did not have the capital or expertise to manage these industries. A couple years after Burnham rigged the 73 elections, that fool Cheddi collaborated with the PNC offering them critical support so that they could make a left turn to Communism like Cuba. He was also in talks with Burnham to form a National Front government with Burnham while the economy was falling apart. Those two jackasses put their own stupid Communist ideology first before the welfare of the country and drove it into the ground.

kp posted:

ba$eman posted:

Mars posted:

Bibi Haniffa posted:

And still that was not enough for old man Granger.  He further increased it to pay himself a whopping $40,000,000 annual salary.  

Don't you ever get tired of lying?

Granger's monthly salary was increased from $1,626,858 to $1,800,750, a mere 10.7% increase. It is nowhere near 40 million per year. Compare a 10.7% increase to Jagdeo giving himself a 100% increase every year for 5 years.

 

Question, if BJ took 500%, then why did Granger see it fit to further increase, regardless by what amount?  Why did he not freeze or cut back and expose the former prezzy as over the top?  No, he increased it for himself!

Don't try to educate fools. The PNC even before doing any work on day one took 50% increase, they saw the thriving economic climate that the PPP left and a huge reserve, today the well is running dry.The bottom line Jagdeo made $1.3millions, today Grangar makes $1.8millions, Who is making more you fool.

Mars is going to look like a pacu with salt on his back. All dem lashes and the man still want more licks.

The PV of Jagdeo's $1.3M is more than Grainja $1.8M and that is before any devaluation.

Skelly, IDIOTS are known to speak from both sides of their mouths. It reminds me of a Class IDIOT in first grade!!!!!!

Mars posted:

ba$eman posted:

Mars posted:

All Jagdeo had to do was beg. ?

And all what the PNC did was beg, borrow and tief!!  The debt forgiveness process started under Jagan or maybe even under Hoyte.  It was a long and difficult process, the point-man being BJ as Finance Minister.

Is funny how you PNC clowns turn things around.  The PNC bankrupt Guyana and the PPP had to get out from under the mountain of non-performing debt.  And now you turn around and call the PPP "beggars".  Well, maybe if your PNC did not reduce Guyana to beggar-bowl status, the PPP would not have had to do that.  And today, your hapless PNC inherited a nation which is financially sound with reserve surplus and the ability to service its debts!

And that's my point exactly. Debt relief started under Hoyte and was continued by successive presidents..

In the end, the PNC mounted up the debt, the PNC bankrupt Guyana.  Debt forgiveness was resulted and the PPP had to do most of the heavy lifting.  Kudos for PPP/BJ for taking this to it's end and for rebuilding Guyana from absolute ruin!

Base, hear Dis Jagdeo a beggar, but oh shit it started with Hoyte so it is a good thing.  Too many IDIOTS on GNI. Brain dead IDIOTS I tell Al Yuh.

ba$eman posted:

Mars posted:

ba$eman posted:

Mars posted:

All Jagdeo had to do was beg. ?

And all what the PNC did was beg, borrow and tief!!  The debt forgiveness process started under Jagan or maybe even under Hoyte.  It was a long and difficult process, the point-man being BJ as Finance Minister.

Is funny how you PNC clowns turn things around.  The PNC bankrupt Guyana and the PPP had to get out from under the mountain of non-performing debt.  And now you turn around and call the PPP "beggars".  Well, maybe if your PNC did not reduce Guyana to beggar-bowl status, the PPP would not have had to do that.  And today, your hapless PNC inherited a nation which is financially sound with reserve surplus and the ability to service its debts!

And that's my point exactly. Debt relief started under Hoyte and was continued by successive presidents..

In the end, the PNC mounted up the debt, the PNC bankrupt Guyana.  Debt forgiveness was resulted and the PPP had to do most of the heavy lifting.  Kudos for PPP/BJ for taking this to it's end and for rebuilding Guyana from absolute ruin!

The economy fell into ruin due to the socialist policies of both the PNC and PPP. They voted unanimously for it in Parliament and were collaborating under orders from the Soviets via their mutual friend Fidel. The PPP didn't have to do anything for debt relief which was started under Hoyte. How hard is it to beg when the debtor nations were already promising to grant debt relief?

Mars posted:

ba$eman posted:

In the end, the PNC mounted up the debt, the PNC bankrupt Guyana.  Debt forgiveness was resulted and the PPP had to do most of the heavy lifting.  Kudos for PPP/BJ for taking this to it's end and for rebuilding Guyana from absolute ruin!

The economy fell into ruin due to the socialist policies of both the PNC and PPP. They voted unanimously for it in Parliament and were collaborating under orders from the Soviets via their mutual friend Fidel. The PPP didn't have to do anything for debt relief which was started under Hoyte. How hard is it to beg when the debtor nations were already promising to grant debt relief?

And yet after an empty treasury from the thieving of 28 years by your PNC, the PPP was able to pull Guyana out and left billions in the treasury in 2015. The treasury is almost empty again, the reason for excessive taxes. When is your PNC going to learn to run a cake shop?

skeldon_man posted:

Mars posted:

ba$eman posted:

In the end, the PNC mounted up the debt, the PNC bankrupt Guyana.  Debt forgiveness was resulted and the PPP had to do most of the heavy lifting.  Kudos for PPP/BJ for taking this to it's end and for rebuilding Guyana from absolute ruin!

The economy fell into ruin due to the socialist policies of both the PNC and PPP. They voted unanimously for it in Parliament and were collaborating under orders from the Soviets via their mutual friend Fidel. The PPP didn't have to do anything for debt relief which was started under Hoyte. How hard is it to beg when the debtor nations were already promising to grant debt relief?

And yet after an empty treasury from the thieving of 28 years by your PNC, the PPP was able to pull Guyana out and left billions in the treasury in 2015. The treasury is almost empty again, the reason for excessive taxes. When is your PNC going to learn to run a cake shop?

How did the PNC become mine when I was never a part of them? The treasury did not run empty because of looting. The Socialist policies of Burnham and Jagan led to the contraction of the economy. There was nothing there to steal. How can you speak about looting the treasury with a straight face when Jagdeo proved to be the biggest tiefman ever in the history of Guyana? The Governor of the Bank of Guyana, who is a PPP appointee, confirmed that there is more money now in the treasury than when the PPP left.  

Mars posted:

ba$eman posted:

In the end, the PNC mounted up the debt, the PNC bankrupt Guyana.  Debt forgiveness was resulted and the PPP had to do most of the heavy lifting.  Kudos for PPP/BJ for taking this to it's end and for rebuilding Guyana from absolute ruin!

The economy fell into ruin due to the socialist policies of both the PNC and PPP. They voted unanimously for it in Parliament and were collaborating under orders from the Soviets via their mutual friend Fidel. The PPP didn't have to do anything for debt relief which was started under Hoyte. How hard is it to beg when the debtor nations were already promising to grant debt relief?

So you saying the PPP/Jagan colluded with the PNC/Burnham to rig the election, shoot and attack PPP supporters, drive them out of Guyana, all in the name of Marxism?

Listen banna, stop making a fool of yourself.  Debt relief was a global initiative by the international lending institutions addressing many highly indebted nations the world over.  Guyana had become the poorest nation in the Western Hemisphere under the PNC, so no doubt they would be included.  It was not a PNC initiative!

ba$eman posted:

Mars posted:

ba$eman posted:

In the end, the PNC mounted up the debt, the PNC bankrupt Guyana.  Debt forgiveness was resulted and the PPP had to do most of the heavy lifting.  Kudos for PPP/BJ for taking this to it's end and for rebuilding Guyana from absolute ruin!

The economy fell into ruin due to the socialist policies of both the PNC and PPP. They voted unanimously for it in Parliament and were collaborating under orders from the Soviets via their mutual friend Fidel. The PPP didn't have to do anything for debt relief which was started under Hoyte. How hard is it to beg when the debtor nations were already promising to grant debt relief?

So you saying the PPP/Jagan colluded with the PNC/Burnham to rig the election, shoot and attack PPP supporters, drive them out of Guyana, all in the name of Marxism?

Listen banna, stop making a fool of yourself.  Debt relief was a global initiative by the international lending institutions addressing many highly indebted nations the world over.  Guyana had become the poorest nation in the Western Hemisphere under the PNC, so no doubt they would be included.  It was not a PNC initiative!

The PPP did not collude with the PNC to rig the elections or shoot PPP supporters. But just a couple of years after the PNC rigged the elections, many PPP stalwarts were summoned to Cuba and ordered to collaborate with the PNC after Burnham announced his intentions to go the Socialist route. On return to Guyana, some crossed the floor and joined the PNC and the others pledged Critical Support and collaborated with the PNC. They also entered into talks to form a National Front government. I didn't make this up. This was history unfolding around me while I was still there.  

Where did I ever say that debt relief was a PNC initiative? I said that the debt relief talks started since the days of Hoyte and were continued in future presidencies. You are making my point for me over and over. Debt relief was not something that Jagdeo magically did for the country like some of these fools are trying to tell us. According to them, Jagdeo removed the debt so that earned him the right to give himself a 500% raise in salary over 5 years and a massive increase in pension.

The rich nations and their lending institutions (via Paris Club and other initiatives) promised debt relief and Guyana being impoverished and in debt was granted the relief. All we had to do was raise our hand and say present, beg a lil bit and we were included.

ba$eman posted:

Well, BJ got an increase over 5 years as Guyana's economy grew.

I am sure you know that 50% is not 500%.

The Guyana economy did NOT increase by 500% under Jagdeo.  In fact under Jagdeo it was stagnant, or shrinking, until gold prices increased in 2007. Jagdeo had NOTHING to do with this.

Jagdeo destroyed GuySICKO.

ba$eman posted:

Mars posted:

Bibi Haniffa posted:

And still that was not enough for old man Granger.  He further increased it to pay himself a whopping $40,000,000 annual salary.  

Don't you ever get tired of lying?

Granger's monthly salary was increased from $1,626,858 to $1,800,750, a mere 10.7% increase. It is nowhere near 40 million per year. Compare a 10.7% increase to Jagdeo giving himself a 100% increase every year for 5 years.

 

Question, if BJ took 500%, then why did Granger see it fit to further increase, regardless by what amount?  Why did he not freeze or cut back and expose the former prezzy as over the top?  No, he increased it for himself!