Zero tax on ExxonMobil is monumental financial loss for Guyana and its people

Zero tax on ExxonMobil is monumental financial loss for Guyana and its people

Parliament’s decision to create—what amounts to—a zero tax clause in the petroleum production agreement keeps power and wealth in the hands of its foreign counterparties and contributes to Guyana’s economic inequality. Additionally, it stagnates the potential for sustainable economic growth here in the local land. While the Stabroek Block Production Sharing Agreement (PSA) should be…

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OECD Multinational Tax System

Guyana needs to join the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting

The OECD/G20 Inclusive Frame-work on Base Erosion and Profit Shifting (BEPS) is implementing a landmark reform to the international tax system, which will ensure multinational enterprises will be subject to a 15% effective minimum tax rate. The details can be found via this link https://www.oecd.org/tax/beps/. Domestic tax avoidance by BEPS due to multinational enterprises exploiting gaps…

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