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January 27, 2026
Budget 2026 prioritises people-centred development and includes measures aimed at supporting the growth of the business community, the Georgetown Chamber of Commerce and Industry (GCCI) said on Tuesday.
The chamber welcomed initiatives such as the removal of corporate tax on agriculture and agro-processing businesses, the expansion of export allowances to include timber products, and the elimination of Value Added Tax (VAT) on locally made furniture and jewellery, as well as on the importation of security equipment. It also noted the attention being paid to the development of the tourism sector.
Anticipated to have a transformational effect on Micro, Small, and Medium-sized Enterprises (MSMEs), the GCCI applauded the provision of US$100 million for the establishment of a zero-interest development bank. Measures including the introduction of a flat tax on double-cab pick-ups, the removal of VAT on new vehicles below 1,500cc and all-terrain vehicles, and the continuation of freight charge relief were cited as evidence of the government’s commitment to the prosperity of the business sector and the wider population.
The GCCI congratulated the government on tabling the $1.558 trillion budget, which it said is expected to improve the lives of all Guyanese, and reaffirmed its commitment to working with the government to advance the country’s business sector and economy.
