THE government will remove Value Added Tax (VAT) on locally manufactured furniture and jewellery, as part of a targeted policy shift aimed at strengthening domestic production, lowering construction costs and supporting small and medium-sized enterprises.
Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, announced the measures during the presentation of the 2026 National Budget to the National Assembly on Monday.
Dr Singh said VAT will be removed on locally made furniture, including doors, moulding and beds, to improve the competitiveness of the forestry and manufacturing sectors while reducing input costs for the construction industry.
He noted that the measure is expected to stimulate local production, support job creation and position Guyanese manufacturers to compete more effectively within the regional market.
In addition, VAT will also be removed on locally produced jewellery, as part of efforts to encourage greater value-added activity and expand opportunities for small and medium enterprises operating in the jewellery-making sub-sector.
Dr Singh said the move will reduce production costs, improve market access and strengthen the sustainability of local jewellery businesses, while promoting the development of downstream industries linked to Guyana’s mineral sector.
He said that both measures form part of the government’s broader strategy to drive local industrial growth, deepen value chains and ensure that economic expansion translates into tangible benefits for domestic producers.
