Guyana loses $40M every week on untaxed fuel entering Region One

Guyana loses $40M every week on untaxed fuel entering Region One – GRA Commissioner

Apr 16, 2017 News

The lack of proper administrative services in Barima-Waini, Region One for over 20 years has left

GRA Commissioner, Godfrey Statia

Guyana leaking billions of dollars in taxes on an annual basis. This is the situation that the government has inherited from the PPP administration and is now scurrying to correct.
Commissioner General of the Guyana Revenue Authority (GRA), Godfrey Statia, noted that the nation is actually losing approximately $40M in taxes every week on fuel at just two ports in Region One.
He informed this newspaper that the matter is being looked at with moves being made to have the necessary infrastructure and officials in place.
This matter was also one that was raised by the Tax Reform Commission which was established by the Granger administration. The Tax Committee included the likes of Statia, economist Dr. Thomas Singh, Chartered Accountant, Chris Ram and Head of the National Industrial and Commercial Investments Limited (NICIL), Dr. Maurice Odle.
According to the Commission, excise taxation of petroleum products in Guyana is quite distorted with a range of exemptions for particular industries and, at least in one case, an entire region.
The Committee was informed by the Guyana Revenue Authority that fuel and other items entering Region One attract no tax, a practice which was allowed by former President Bharrat Jagdeo and which continues.
Needless to say, the Commission said that this practice is completely unlawful and recommends its immediate cessation.

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