The PPP/C government’s first budget since winning a landslide victory at the September 1, 2025, general and regional elections, stands at $1.558 trillion and includes a suite of targeted tax removals aimed at boosting local industries and lowering costs for consumers.
Minister of Finance Dr Ashni Singh delivered a marathon budget presentation that lasted for more than five hours in the National Assembly. The budget does not include any new taxes and is 12.7 per cent larger than Budget 2025.
To encourage local value addition and strengthen small and medium enterprises in the jewellery-making sub-sector, Minister Singh said the government will remove value-added tax on locally manufactured jewellery. He said this move is designed to spur production, expand business opportunities for local artisans and make domestically produced pieces more competitively priced.
According to Dr Singh, the budget eliminates Value Added Tax (VAT) on locally made furniture, including doors, moulding and beds. He said this measure is intended to increase the competitiveness of the forestry value chain, reduce construction costs and support furniture manufacturers. It is also expected to help local producers scale up their operations and compete more effectively in regional markets.
The government has also expanded the list of products eligible for export allowance to include timber value-added goods. By lowering the effective tax burden on qualifying exporters, this measure will incentivise downstream processing, boost value-added production and improve the price competitiveness of Guyanese timber products abroad.
As part of efforts to build safer communities and bolster crime prevention, Minister Sing revealed that duty and VAT will be removed on security equipment such as CCTV cameras and alarm systems. The exemption is expected to increase uptake of surveillance and detection technologies, enhance situational awareness at the community level and aid collaboration with the Guyana Police Force.
In line with the government’s food security and agricultural transformation agenda, Minister Singh announced that corporate taxes will be removed for agriculture and agro-processing businesses. This relief is intended to increase retained earnings, attract investment, boost production and productivity, and accelerate diversification and scaling up across the sector.
Additionally, as part of efforts to position Guyana as a niche tourism market for destination weddings, the government will remove the 14-day residency requirement for destination weddings. This measure is expected to expand tourism-related economic activity to the benefit of the hospitality industry.