{"id":12595,"date":"2023-09-10T20:35:37","date_gmt":"2023-09-10T20:35:37","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=12595"},"modified":"2023-09-10T20:35:38","modified_gmt":"2023-09-10T20:35:38","slug":"president-ali-hints-at-further-increase-in-income-tax-threshold","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/president-ali-hints-at-further-increase-in-income-tax-threshold\/","title":{"rendered":"President Ali Hints at Further Increase in Income Tax Threshold"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>President Irfaan Ali has alluded to the possibility of an additional increase in the income tax threshold later this year. <\/p>\n\n\n\n<p>He emphasized that a comprehensive evaluation of the country\u2019s current revenues and projected earnings is presently underway.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"489\" src=\"https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2023\/09\/Threshold-1-1024x489.png\" alt=\"\" class=\"wp-image-12597\" srcset=\"https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2023\/09\/Threshold-1-1024x489.png 1024w, https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2023\/09\/Threshold-1-300x143.png 300w, https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2023\/09\/Threshold-1-768x367.png 768w, https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2023\/09\/Threshold-1-155x74.png 155w, https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2023\/09\/Threshold-1.png 1038w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Currently, the minimum wage stands at $75,000 for the public sector and $60,000 for the private sector. In the recent budget presentation, Finance Minister Dr. Ashni Singh proposed raising the income tax threshold to $85,000. This adjustment would result in thousands of workers paying fewer taxes and taking home a larger portion of their income each month.<\/p>\n\n\n\n<p>However, President Ali clarified that a thorough review is being conducted to potentially further adjust the minimum wage while ensuring the sustainability of the economy.<\/p>\n\n\n\n<p>President Ali also announced forthcoming consultations with healthcare workers and teachers upon his return from the United Kingdom. These consultations aim to foster engagement and develop a comprehensive set of measures aimed at enhancing the well-being of these vital segments of the workforce.<\/p>\n\n\n\n<p>As the government focuses on economic empowerment and improving the standard of living for citizens, the potential increase in the income tax threshold stands as a key initiative in this endeavor.<\/p>\n\n\n\n<p><em><strong>Reporter: Saskia Warrick, NCN News<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Irfaan Ali has alluded to the possibility of an additional increase in the income tax threshold later this year. He emphasized that a comprehensive evaluation of the country\u2019s current&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12596,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,350],"tags":[],"class_list":["post-12595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/12595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=12595"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/12595\/revisions"}],"predecessor-version":[{"id":12598,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/12595\/revisions\/12598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/12596"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=12595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=12595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=12595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}