Latest update April 19th, 2024 12:59 AM
Nov 18, 2021 News
Kaieteur News – The Guyana Revenue Authority (GRA) on Wednesday outlined the criteria to be followed by interested applicants for the establishment and functioning of shore base facilities to support the needs of the oil sector.
The tax body recalled that it had published a notice in the Official Gazette of October 09, 2021, advising of the Liza Unity Floating Production Storage and Offloading (FPSO) facility being deemed a “Private Warehouse and Sufferance Wharf”, for customs purposes. GRA said this was necessary to enable a conducive framework for customs facilitation and monitoring of transactions related to the movement of goods, services, and vessels coastwise and internationally in conformity with the legislation.
Acutely aware of the fact that shore base facilities will be established to support the services needed by the Liza Unity and the Liza Destiny that is currently in operation, GRA said the existing Customs Procedures for warehousing shall be applicable for shore bases. In this regard Kaieteur News understands that interested stakeholders must submit to GRA Commissioner General, Godfrey Statia, the following information: A written Application requesting the establishment of a private warehouse and for consideration for it to be deemed a Sufferance Wharf; an approved plan of the mapped premises, inclusive of customs area showing washrooms, storage space for dutiable/non-dutiable goods and office areas; a Building Certificate or approval issued by Central Housing and Planning Authority (CHPA); Certification from the Guyana Fire Service; proof of ownership of premises; copy of transport; copy of title; copy of lease or tenancy agreement; and a copy of business registration.
In addition to the foregoing, GRA said a statement of the estimated customs value and general description of goods proposed to be warehoused in the location monthly and over a 12 Month Period must be submitted for perusal. In this regard it said the detailed list of all types of goods (brand, type, size, and packaging) is required for the determination of the Warehousing Product Specification Codes (PSC).
Further to this, the tax authority now requires the name and acceptance of a proposed Guarantor and evidence of Sufficient Security, in the form of a bond in Form C61 of the Customs Regulations, to guarantee the payment of duties applicable to the Warehoused goods. It also expects applicants to submit a proposal outlining the specific nature of the operations, access to electronic inventory and security arrangements, and any other condition(s) deemed necessary by the Commissioner-General upon the examination of the facility.
GRA warned that it would apply the full measures in the Laws of Guyana for those found to be non-compliant.
Where is the BETTER MANAGEMENT/RENEGOTIATION OF THE OIL CONTRACTS you promised Jagdeo?
Apr 19, 2024
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