Ronaldo Alphonso, a seasoned gold miner with over 20 years of experience and the current President of the Guyana Gold and Diamond Miners Association, has proudly announced his endorsement of His Excellency, Dr. Mohamed Irfaan Ali, for a second term as President of the Co-operative Republic of Guyana.
Alphonso’s decision comes after careful consideration of the benefits the mining sector has experienced under President Ali’s administration over the past five years. He stated, “This endorsement reflects my firm belief that the current administration has not only listened to the needs of the mining sector but has acted decisively to ensure its growth and prosperity.”
Under President Ali’s leadership, the mining industry has undergone significant transformation, characterized by proactive engagement and consistent delivery on governmental promises. The administration has introduced a range of policies that have positively impacted all levels of the mining sector, from small-scale operations to larger enterprises.
Alphonso highlighted several critical concessions and initiatives that have benefitted miners, including:
Tax and VAT Relief:
Removal of VAT on All-Terrain Vehicles (ATVs).
Elimination of VAT on essential machinery, equipment, and lubricating oils.
Abolishment of Excise Tax on fuel.
Streamlined Operations:
Abolishment of police clearance requirements for transporting fuel.
Removal of registration mandates for mining equipment.
Elimination of VAT on hinterland travel, reducing workforce costs.
Direct Financial Gains:
Reduction of Final Tax from a sliding scale with a maximum of 3.5% to a flat 2.5%.
Complete removal of the 10% Tributor’s Tax, enhancing miners’ financial returns.
Landmark Investment Agreements:
Investment Development Agreement (IDA) allowing miners producing over 200 ounces of gold annually to import duty-free vehicles, provided they are tax compliant. Additional IDAs have been secured for other vehicles and essential spares.
“These actions speak louder than words,” Alphonso remarked. “They represent a government that understands the vital contribution of the gold and diamond mining sector to Guyana’s economy and is committed to its sustainable development.”
While acknowledging existing challenges within the sector, Alphonso expressed confidence in President Ali’s open-door policy and collaborative spirit. “We have a partner in progress who is willing to listen and work with us to find solutions,” he stated.
In conclusion, Ronaldo Alphonso reiterated his wholehearted endorsement of President Irfaan Ali for a second term, expressing optimism for a continued productive partnership that will foster a brighter, more prosperous future for the mining sector and all of Guyana.
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