GRA increases a range of licencing fees

Mar 30, 2016 News

In wake of a move by the government to revise tax laws to ensure greater compliance, especially among the self-employed, the Guyana Revenue Authority (GRA) has increased a range of licencing fees significantly, despite resistance from the parliamentary opposition.
Among the list of licencing fees which were extensively increased are hucksters who travel with a motor vehicle, hucksters who travel with a horse or other beast bearing or drawing burden, auctioneer’s licence, dealer’s general licence under the Motor Vehicle Act and gun licences.
Finance Minister Winston Jordan had declared a series of amendments to the Tax Act and Customs Act in the 2016 national budget in January. The legislation amended are the Firearms Act; the Hucksters Licencing and Control Act; the Auctioneer Act, the Miscellaneous Licences Act; the Motor Vehicle and Road Traffic Act; the Rice Factories Act and the Tax Act.
These increases became effective on March 23, 2016 and were posted on the Guyana Revenue Authority website.
Gun licence fees for dealerships were hiked from $7,500 to $150,000 while licences for possession of a rifle were inflated from $5000 to $40,000. Hucksters who travel with a motor vehicle will have to pay $62,500—which is a far climb from the $5000 they were obligated to pay prior to the amendment.
Hucksters who travel on foot with a man-propelled vehicle or cycle will now have to pay $3500 instead of $280; hucksters who travel with a horse or other beast bearing or drawing burden are mandated to pay $12,500 instead of $1000 they previously paid for their licences.
On the other hand, auctioneers will have to pay $40,000 for their licences instead of $3500. Jordan had stated that the increases will improve competence in administering taxes by the GRA. He had indicated that there was low compliance by the self-employed, which proved to be the reason why the category was lagging behind other sections of income tax group.
The 2013 Auditor General’s report stated that although there were 75,992 self-employed persons in the country, only 33,740 filed taxes in that year. It stated further that the GRA only released 18,581 notices to the 43,252 business persons who did not file.
The opposition continues to remain resolute that the significant increases on licencing fees are unfair and too weighty.

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GRA increases a range of licencing fees

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