Apr 09, 2016 News
As importers complain about delayed containers…
Government has green-lighted a proposal submitted by Minister of Business, Dominic Gaskin, to introduce a ‘Trusted Trader’ programme to benefit legitimate businesses in Guyana.
This proposal was developed as a result of complaints received over the past 10 months that the refusal of several well-established businesses to pay inducements to public officials has resulted in them being targeted with delays in the processing of their transactions.
“This has, in many cases, resulted in commodities with short shelf lives being left on the wharves to expire, while minor queries are used to delay the importation process for weeks. These actions have resulted in the loss of millions of dollars to businesses, which in turn, affects Government’s revenue collection,” a Government statement disclosed yesterday.
The Trusted Trader status will be granted to businesses that meet certain criteria related to their history of compliance. This status will allow for the release of consignments prior to the processing of import documents, as well as other benefits that acknowledge the high level of trustworthiness implied in the status.
“Cabinet will appoint a Working Group with representatives from the Ministries of Business and Finance (Guyana Revenue Authority) and at least one other interested Ministry, to undertake consultation with stakeholders. The Working Group will be expected to submit a report with specific and detailed recommendations to Cabinet by April 29, 2016.”
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