THE Guyana Revenue Authority (GRA) in keeping with its mandate to promote compliance with the laws, regulations and policies it administers issued yesterday an advisory reminding taxpayers of the various requirements that must be met in order to be deemed compliant.

It also cited the recent allegations of the remigrant concession scheme being used fraudulently.
“Recently it has come to the attention of the agency that a large number of remigrants, having returned to Guyana from their sojourn overseas, are not keeping for their use the assets that are presumably their property acquired while living abroad,” the GRA said in a press statement.
To this end, the Authority made clear that this is “highly irregular” and advised that this will in no form or shape be condoned by the agency.
“The agency’s letter is very clear in that it indicates that the concession is granted for the specific use by remigrants and should not be transferred, leased or sold for a period of three years after one’s return to take up their residence in Guyana as a bona fide remigrant,” the statement said.

VIOLATIONS
According to GRA, violations of the condition of the remigrants’ duty free concessions have been discovered.
The GRA said, “Many remigrants when found not to be in possession of their vehicles are using many used and jaded excuses, including lending their assets to their close relatives, among others.
“The GRA views this as a violation of the condition under which the remigrants are granted their concessions, and will take all necessary action to enforce the penalty clause under which violation of the concessions occurs.”
The Authority stressed that where the remigrants are unwilling or unable to pay the pro rata taxes or in some cases the entire amount due, recourse will be taken to forfeit such assets.

NOT BY RIGHT
The statement added that concessions are not by right, but have preconditions applying as well as post- conditions as to the application of those concessions.
The advisory said, “In the case of remigrants, it is the norm for all remigrants to provide the necessary proof of the use of their assets prior to their remigrant status being obtained, apart from such items being registered legally in their name.
“One such proof is the presentation of insurance documents attesting to the use of their vehicle or other large capital item. The necessary evidence that the person is the holder of a valid driver’s licence is also necessary information that is usually requested attesting to use.”

LEGAL RECOURSE
The GRA acknowledged too that taxpayers have rights and the use of the court by remigrants to challenge the actions taken by the agency as a right or entitlement.
However, the Authority made it clear that notwithstanding this access to recourse, the GRA will do its part to protect the integrity of and to continue to give credibility to the scheme.
The statement said, “It is even more essential to note that in determining genuine remigrants, the post-audit activity carried out by the agency is not only to validate the invoices and title used in the transaction, which are often times highly tampered, but to request of the relevant tax authorities which GRA has treaties with, to disclose relevant tax information. This includes the recent agreement signed on by the Government to implement the Foreign Account Tax Compliance Act (FATCA) as it relates to United States residents.”
The GRA is calling on those who are contemplating making use of concession schemes to be cognizant of the laws including anti-money laundering legislation, regulations, international agreements and policies governing same as there are serious consequences once found guilty of violating the laws pertaining to such offences, the GRA statement added.