– debunks incorrect Kaieteur News article
The Guyana Revenue Authority (GRA) has stated that as a result of initiatives taken, it has been successful in minimising tax evasion and avoidance, and protect revenue and prevent revenue losses.
A press release yesterday highlighted that many members of the business community have been utilizing every means necessary to avoid paying duties and taxes on their imports.
Common in this scheme is the under-declaration of the actual value of goods, a practice which has resulted in the State being denied revenues thereby hindering the overall development of the country.
GRA Commissioner-General, Khurshid Sattaur said that the Authority will not condone such practices and that any evidence of tax evasion will result in the guilty party/parties being fined and prosecuted.
Referring to an erroneous Kaieteur News article regarding two cars imported by a prominent auto dealer, the release stated that the publication of such information compromises ongoing investigation.
The facts relating to the matter are that the cars, which are considered luxury vehicles, are usually over 3000cc; however, the customs entries reflected the engine size as below 1498cc.
Subsequently, duty and taxes were paid amounting to over $3.9M rather than the $10.6 M that should have been paid had the declarations been correct.
Following an investigation, the vehicles were detained and held in the Customs and Trade Administration compound but were subsequently removed and secured at the Authority’s warehouse at Eccles, East Bank Demerara.
The GRA is urging persons who have any information of tax evasion or know of persons conspiring to defraud the agency to contact the intelligence hotline on telephone number 225-6687. (GINA)