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GRA moves to investigate Christopher Ram

Jun 11, 2010 News

Sources within the Guyana Revenue Authority have reported that a directive has been given for the Authority to investigate the dealings of Chartered Accountant and Managing Partner of Ram and McRae, Christopher Ram, in light of recent rumours regarding the sale of Hotel Tower.
The top brass in the Authority were meeting yesterday to discuss the matter. Commissioner-General Khurshid Sattaur is on leave.
Asked to comment on the issue Ram said that he was not aware of any investigation. He added that he would be particularly surprised about any investigation given recent communication with the Authority which resulted in a tax refund of $1.8 million as a result of the GRA clearing his files.
Ram added that the firm has always had a healthy and mutually respectful relationship with the tax authorities and that he has every confidence in Mr. Sattaur and his team to act professionally and within the law and not to respond directly or indirectly to mischievous and wicked rumours.
Ram’s receivership of Hotel Tower came to an end in 2003 following an agreement between the shareholders of Hotel Tower, the RL Singh Investors Group, the Bank of Nova Scotia and Ram, under which the then existing shareholders sold their shares to the investors. In 2009 the RL Singh Group sold their shares.

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