{"id":15536,"date":"2024-01-15T16:30:35","date_gmt":"2024-01-15T16:30:35","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=15536"},"modified":"2024-01-15T16:30:37","modified_gmt":"2024-01-15T16:30:37","slug":"private-sector-anticipates-pro-business-provisions-and-tax-relief-in-budget-2024","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/private-sector-anticipates-pro-business-provisions-and-tax-relief-in-budget-2024\/","title":{"rendered":"Private Sector Anticipates Pro-Business Provisions and Tax Relief in Budget 2024"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>As the Guyanese government prepares to unveil Budget 2024, the private sector is expressing optimism and anticipation for provisions favoring small and medium-sized businesses (SMEs) as well as potential tax relief. <\/p>\n\n\n\n<p>President of the Guyana Manufacturing and Services Association (GMSA), Ramsay Ali, discussed these expectations during an episode of &#8220;Outlook: Budget 2024.&#8221;<\/p>\n\n\n\n<p>Ali highlighted the importance of supporting businesses at various stages, from start-ups to those already exporting goods. <\/p>\n\n\n\n<p>He emphasized the need for measures such as assistance in participating in overseas trade fairs to showcase local businesses.<\/p>\n\n\n\n<p>One of the key areas of interest for the private sector is tax relief. <\/p>\n\n\n\n<p>Ali noted that discussions with the government have taken place, and feedback has been received. <\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls src=\"https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2024\/01\/Josaiah-Budget-Outlook1.mp3\"><\/audio><\/figure>\n\n\n\n<p>The GMSA has submitted a list of requests aimed at fostering the strategic development of SMEs.<\/p>\n\n\n\n<p>Financial analyst Joel Bhagwandin underscored the significance of strong fiscal policies for sustainable economic growth and citizen development. <\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls src=\"https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2024\/01\/Josaiah-Budget-Outlook2.mp3\"><\/audio><\/figure>\n\n\n\n<p>He suggested that maintaining a budget allocation ratio of 70% to capital projects and 30% to social services is crucial for the country&#8217;s future growth.<\/p>\n\n\n\n<p>Guyana&#8217;s budget for the preceding year, 2023, reached 781.9 billion dollars, marking the largest budget in the nation&#8217;s history. <\/p>\n\n\n\n<p>Expectations are high that Budget 2024 will surpass the previous year&#8217;s figures, reflecting the country&#8217;s ongoing economic development.<\/p>\n\n\n\n<p>As the private sector eagerly awaits the budget announcement, there is a shared hope that the fiscal package will provide the necessary support and incentives for the continued growth and success of businesses across various sectors.<\/p>\n\n\n\n<p><strong><em>[Josiah Williams, NCN News]<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the Guyanese government prepares to unveil Budget 2024, the private sector is expressing optimism and anticipation for provisions favoring small and medium-sized businesses (SMEs) as well as potential tax&hellip;<\/p>\n","protected":false},"author":4,"featured_media":15537,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[366,350,359],"tags":[],"class_list":["post-15536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-development","category-news","category-top-picks"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15536","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=15536"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15536\/revisions"}],"predecessor-version":[{"id":15540,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/15536\/revisions\/15540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/15537"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=15536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=15536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=15536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}