After a careful analysis of the current tax regime for the importation of non-commercial vehicles, the recently formed Political Party, Change Guyana, has found that the system is inequitable and largely inaccessible to many. In fact, the party finds that it prevents the average citizen from purchasing vehicles that are under four years from date of manufacture.
Expounding further, Change Guyana noted that the safety features in newer vehicles save lives. It highlighted that these vehicles have features such as collision warning, blind spot warning, back-up camera, among other lifesaving systems that would reduce accidents. The party, which is led by Presidential Candidate, Robert Badal, notes however that such features are invariably not included in the aged vehicles being imported into Guyana.
Taking this into consideration, Change Guyana wants to implement for vehicles under four years of manufacture, an overall 50% tax (instead of the current 82% overall tax, comprising 45% duty, 10 Excise, and 14% VAT) on vehicles between 1500cc to 2000cc; 75% tax( instead of the current 247% overall tax, comprising 45% duty, 110 Excise, and 14% VAT) on vehicles between 2000cc to 3000cc; And 100% tax (instead of the current 297% overall tax, comprising 45% duty, 140 Excise, and 14% VAT) on vehicles over 3000cc.
Change Guyana believes that the reduced tax rates on vehicle imports will enable a significant number of Guyanese to acquire new vehicles and live their lives with more dignity, safety and happiness.
The Party said it is critical that the country moves away from the current system that primarily allows Ministers, high-level State employees, and senior government contract workers to enjoy the pleasurable experience of owning or using new vehicles. “We believe the building of a middle class is a forerunner to economic development,” the Party concluded.
