September 06, 2007

MEDIA RELEASE

Rice Farmers to access VAT-free tractor and combine spares

Eligible rice farmers across the country will benefit from the zero-rating of Value Added Tax to purchase combine and tractor spares necessary for their operations.

This was possible following recent meetings with H.E President Bharrat Jagdeo, Minister of Agriculture, Robert M. Persaud and the Guyana Rice Producers Association and rice farmers to discuss possible measures to cushion the effects the prolong rainy season coupled with the cost of production due to global price increases for fuel and fertilizers.

A mechanism was concluded with the Ministry of Finance effective September 1 and farmers can contact the Head Offices Guyana Rice Producers Association and the Guyana Rice Development Board for more information on accessing this temporary measure. 

The processing of all applications for exemptions will be closely monitored by the Guyana Rice Development Board and the Guyana Revenue Authority to ensure the spares are used for the intended purpose – rice farmers.

The Ministry of Agriculture will continue to work with relevant stakeholders, including the RPA to pursue support for rice farmers and the general agricultural sector.