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On Friday last, Finance Minister Winston Jordan, during the National Budget Presentation, proposed the removal of excise tax on vehicles under four years old and less than 1500cc, and the proposed importation restriction on vehicles under eight years and older.This move by the Government’s was seen as a measure in keeping with its programme of “greening the economy” and protecting the environment.These vehicles,Nebraska Cornhuskers Jerseys, according to Jordan,DeShone Kizer Notre Dame Jersey, currently attract excise tax at the rate of 30 percent and an effective tax rate of 118.7 per cent,Notre Dame Fighting Irish Jerseys, however, with this removal, the effective tax rate will be reduced to 68.2 per cent.Jordan also revealed that there will be a reduction of excise tax from 50 per cent to 10 per cent, on motor vehicles under four years old, between 1500cc and under 2000cc.As a result, he said, the effective tax rate of 152.3 per cent will be reduced to 85 per cent.While some dealers have lauded the government’s move to restrict importation of used vehicles to under eight years old from the date of manufacture to the date of importation, others have expressed that it will bring little or no real benefit to low and middle-income earners.This restriction will be enforced from May 1,Braxton Miller Ohio State Jersey, 2016.An auto dealer yesterday, who requested anonymity, stated that while the Government’s move is admirable “blended with a thought for the earth’s safety”, they should not neglect or block the dreams of the low and middle-income earners to own a vehicle.“A high-class or rich individual or let me use urban slang,cheap jerseys from china, “a monster”, will benefit because it is in his or her range to buy a brand new…or newer model. They will benefit from this. But what happens to the poor man who cannot afford to buy a new one or recent model? Or can only import a used car to fit their budget? They are denying the poor, the same thing with the used tyres situation. Guyana is not ready to take these big gigantic leaps,Joel Berry II North Carolina Jersey,” the man opined.“Then there are the Bank loans…A low-income man can go and take a $3M loan to buy a normal car…Will the bank give him a loan of let’s say, double that amount, to buy a partially brand new car? Will he have collateral to put up to match that amount?”A representative of Fazela Auto Sales in Anna Catherina said that he supports the government’s move in regards to the restriction.The reason for endorsing the move,Taylor Martinez Nebraska Jersey, he stated, was the “fact” that older imported cars carry higher maintenance costs and fuel consumption. The man continued that he was somewhat disappointed by the government’s move to not “leveling the field”.“Private (individual) car importers are playing less tax than car salesmen. The government should address or level the field, because we pay more and we have to go through all the processes like licencing…So we were a little disappointed by this, (but) car sales will still continue though, people are still going to buy cars,” he said.A popular Georgetown importer, who requested anonymity,Manti Teo Notre Dame Jersey, said that while he is thankful for the tax reduction,Archie Griffin Ohio State Jersey, he is worried about the impact the restriction will have on the majority of his customers, who are usually the middle and low income earners.“We are thankful for the duty reduction, but the ban (restriction) will fall way above the reach of our customers who usually go after the $2M to $2.8M range. A used Premio 2013 model before shipping and taxation is $3.4M, then (adding) the (new) taxes and shipping, it ends up to somewhere around $5.8M (while) older models; the 2006, 2007, 2008 models in our showroom are between the $2M to $2.8M range…you can see the difference.”“Then you should take financing into consideration, the customers are barely qualifying as it is to get a $2M loan from the banks, much less, a loan for $3.5 and $5.8M. This ban (restriction) will affect everyone.”