VAT Collection on Electricity, Water and Internet Data to net about close to $3BN

The introduction of the Value Added Tax on electricity, water and internet data is projected to rake in more than 2.9 billion dollars come next year.

The projections were shared by Guyana Revenue Authority, Commissioner- General, Godfrey Statia, at the press conference earlier today, Friday, December 16, 2016.

According to Mr Statia, “the VAT on electricity would probably give us(GRA) about 1.25 billion dollars and on water about 315 million dollars.”

These new measures were announced during the November 28, presentation of Budget 2017 by Finance Minister, Winston Jordan.

Another new measure, was the introduction of VAT on internet data. This, the GRA head says will net about 1.4 billion dollars based on the numbers he would have received from the country’s main service providers.

However, the new collection on the basic utilities will not be charged across the board but on those exceeding certain amounts: for water, bills exceeding $1500 and for electricity, $10,000.