Latest update April 23rd, 2024 12:59 AM
Jun 09, 2017 News
With accelerated moves to open new offices in the Region One area, the Guyana Revenue Authority (GRA) is placing itself in a better position to close gaping holes which have allowed for the leakage of billions of dollars in taxes on fuel annually.
This announcement was made yesterday by GRA’s Commissioner-General, Godfrey Statia.
The GRA Boss told the media that an office has been established in Morawhanna. It commenced operations from June 1, last. A second branch has been set up in Eteringbang, and Statia said it is hoped that operations for that branch will begin by the end of July or on August 1.
“We had some problems with Eteringbang, because we only get there by air, and you have to make arrangements to get the funds out after collecting them,” Statia expressed.
He reminded that the offices are critical, as Guyana loses close to $3B a year through the Eteringbang area. “It is strictly fuel that comes from Venezuela and is sold to the gold mining industry and we don’t get the taxes there,” the tax chief explained. He noted, too, that GRA also does not collect taxes on the fuel going into the Morawhanna area.
The situation in Region One is one that has existed for over 15 years.
Statia in a previous interview with this newspaper had said that the nation is actually losing approximately $40M in taxes every week on fuel at just those two ports in Region One.
He had informed this newspaper that the matter was being looked at, with moves being made to have the necessary infrastructure and officials in place.
This matter was also one that was raised by the Tax Reform Commission which was established by the Granger administration. The Tax Committee included the likes of Statia, economist Dr. Thomas Singh, Chartered Accountant, Chris Ram and the Head of National Industrial and Commercial Investments Limited (NICIL), Dr. Maurice Odle.
According to the Commission, excise taxation of petroleum products in Guyana is quite distorted, with a range of exemptions for particular industries and, at least in one case, an entire region.
The Committee was informed by the Guyana Revenue Authority that fuel and other items entering Region One attract no tax, a practice which was allowed by former President Bharrat Jagdeo, and which continues.
Needless to say, the Commission said that this practice is completely unlawful and recommends its immediate cessation.
LISTEN HOW JAGDEO WILL MAKE ALL GUYANESE RICH!!!
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