– says waivers, rebates almost like subsidiesThe granting of tax breaks and other concessions to especially foreign investors is being reviewed, with the administration indicating that it wants to reduce the levels.The concessions were designed over time, by the previous Government, as a means to attract foreign direct investments (FDIs). It included tax holidays, duty free concessions and a host of relief enticements,Sale NFL Jerseys, including lands in some cases, to attract investors.In return, investors were supposed to comply with the agreements they signed with the Government of Guyana. These included actually investing what was promised.Many investors were granted waivers to the tune of hundreds of millions of dollars to bring in equipment and vehicles and even building materials and workers. However,Cheap Jerseys From China, there has been evidence that the previous administration paid little attention to compliance,China Jerseys Cheap, with the investors raking in profits, and not fulfilling legal commitments.Locals have been complaining bitterly that the concessions, especially waivers on vehicles and equipment, have been placing them at a severe disadvantage, or at the very least, are unfair.The issue has been engaging the attention of President David Granger.Questioned on the issue of concessions and compliance on Wednesday, especially with the recent revelations about a number of Asian investors,Cheap NFL Jerseys China, including BaiShanLin, a logging company, President Granger made it clear that he is intent on ensuring fairness for businesses in Guyana.He said that the buzzword will be a level-playing field and that too many waivers, rebates and concessions are not the road that the administration wants to walk on.As a matter of fact, he said, Government is considering reducing “the level of these concessions” in order to ensure that local businesses remain competitive.The official said it is viewed in some quarters that the concessions are almost like subsidies or cash handouts. Investors and others have become too reliant on subsidies rather than concentrating on the development of their enterprises and resources.The issue of concessions and its abuse has been rearing its head for a number of years, after it became known that some companies had been using it to even import luxury vehicles. Sometimes,Cheap Jerseys NFL China, some of the material like steel and other hardware were brought in and even sold on the local market.What irritated local businesses was the discovery that some of the equipment and vehicles, including trucks and excavators,Wholesale NFL Jerseys Online, have been illegally used for other purposes,Cheap NFL Jerseys, most times competing with locals.According to official estimates, in 2014 it was estimated that almost $60B was granted in concessions and tax waivers,Cheap Jerseys, significant when taken into account that the country’s budget was a total of $220B that year.