The International Monetary Fund (IMF) has listed Guyana as one of the top 5 countries when it comes to the implementation of tax reforms.
The claim was made in the global financial organization’s quarterly publication, entitled Finance and Development, and which included a section that was labeled “Raising Revenue”.
The publication which examined various global developmental matters was issued last month (March 2018).
The IMF report has portrayed Guyana, Liberia, Georgia, Cambodia, and Ukraine as examples of successful countries that have managed to increase their tax revenue under the circumstances of tax reforms.
However, the report explains (at page 20 along with a chart) that the published data is based upon reforms that were made between the years 2002 to 2015.
It will most likely take several years before another research is conducted to determine the success ratio from 2016 and thereafter.
But with additional reforms being implemented at the GRA, and revenue collection showing signs of further improvement, the same successful trend with upward ratios are widely expected to be shown on any future report.
The report (Finance and Development, International Monetary Fund, March 2018, p. 20) can be accessed via THIS LINK at the IMF.