In a move aimed at supporting local businesses, increasing competitiveness, and promoting safer communities, the Government announced the removal of Value Added Tax (VAT) on locally produced furniture and jewellery, as well as the removal of both duty and VAT on security equipment.
The measure targeting the furniture sector covers a range of locally manufactured items including doors, beds, and mouldings. By eliminating VAT, the Government aims to lower construction costs, provide relief to consumers, and give a significant boost to the forestry and furniture manufacturing industries, helping them grow sustainably and compete more effectively in regional markets.
Similarly, the jewellery-making sector will benefit from the removal of VAT on locally produced jewellery. This initiative is designed to encourage value addition within the country, support small and medium enterprises, and strengthen opportunities for local artisans and entrepreneurs in the creative industry.
On the safety front, the Government will remove duty and VAT on security equipment such as security cameras and alarm systems. This step forms part of broader efforts to build safer communities by enhancing crime deterrence, improving situational awareness, and fostering stronger collaboration between citizens and the Guyana Police Force. With easier access to affordable security tools, communities can more effectively detect and respond to incidents, reinforcing national crime prevention strategies.
These targeted fiscal measures reflect the Government’s commitment to stimulating local economic growth, empowering entrepreneurs, and ensuring the safety and well-being of citizens across Guyana.
