Court rules Giftland owes City Hall no taxes

Feb 19, 2021 News

Owner of Giftland Mall, Roy Beepat.

Mayor Ubraj Narine.

Kaieteur News – The High Court handed down a ruling which effectively cleared Giftland Mall of owing taxes to the Mayor and City Council of Georgetown (M&CC). The ruling stems from court action filed by Giftland over claims that it owed the Council in excess of $100M worth of taxes.

Following yesterday’s decision, Kaieteur News reached out to a party close to the issue who explained that the Council had calculated the alleged outstanding amount owed by Giftland using a valuation from the State‘s Chief Valuation Officer.

The Chief Valuation Officer had reportedly assessed the value of the property and the Council had calculated their taxes, adding arrears and interest. Giftland however, challenged their claims and the valuation in Court.

The Court in its ruling yesterday set aside the valuation on the grounds that the Chief Valuation Officer failed to comply with the procedure for valuing the commercial property.
As a result, the demand for rates and taxes based on the calculation of the municipality was also set aside. In addition, the Court ruled that the claim of 21 percent compound interest by the Council under the Municipal and District Council Act is set aside. Consequently, Giftland Mall owes no outstanding rates and taxes to City Hall.

Following yesterday’s Court decision, Giftland Mall released a statement which outlined that it has been vindicated in its stance that the company owed the Georgetown Municipality no taxes.

“The Giftland Group wishes to inform the public that the long contentious tax issue with the Mayor & City Council has finally been resolved in court today….Giftland Mall and Mr. Roy Beepat have been fully vindicated against the damage which has been done…,” the company said in the statement adding, that despite the attacks on its reputation, being a responsible corporate entity, it will offer an olive branch to the M&CC to find a way to work together recognizing that the country cannot run without taxes.

“Being a responsible corporate entity, Giftland will offer an olive branch to the M&CC to find a way to work together recognizing that the Country cannot run without taxes, …we continue to be here to serve all Guyanese people with the highest standards possible and look forward to your continued support,” the company added in the statement.

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