MCC’s two-year, $6.7 million Threshold Program with Guyana sought to improve Guyana’s performance on MCC’s Fiscal Policy indicator. Specifically, the grant helped the government implement its new value-added tax (VAT) system and assisted and educated taxpayers, while also helping the government better plan and control spending. The grant helped streamline the business registration process and reduced the number of days and costs associated with starting a business.
August 24, 2007
February 23, 2010
Government Spending Control
- Improved the capacity of the Ministry of Finance to perform expenditure policy and planning within a macroeconomic or national framework;
- Increased transparency and improved efficiency in the public procurement process.
Increase Parliament’s Fiduciary Oversight
- Strengthened parliamentary fiduciary oversight committees by providing training to key staff and assisting with the introduction of reforms;
- Enhanced capacity of the Committees’ Secretariat through staff training and modernization of research facilities.
- Reduced the number of days and cost associated with starting a business;
- Modernized business registration systems;
- Established a one-stop business registration system.
Tax Structure Reform Project
- Strengthened tax administration by preparing a taxpayer assistance program and developing filing, payment and audit systems;
- Supported implementation of the country’s new value added tax (VAT) structure by providing technical assistance to the Guyana Revenue Authority and supporting the ongoing VAT education campaign;
- Provided training and technical assistance to the Ministry of Finance and the Guyana Revenue Authority on how to conduct tax policy and perform forecasting analysis;
- Strengthened customs controls in order to reduce corruption in customs operations and import and export tax evasion;
- Developed systems within the Guyana Revenue Authority to deter tax evasion.