Guyana’s vehicle tariff regime antiquated, visionless - Chartered Accountant

Guyana’s vehicle tariff regime antiquated, visionless – Chartered Accountant

Oct 01, 2018 News

Chartered Accountant, Nigel Hinds is of the firm view that the tax regime governing Guyana’s vehicles is not only out dated but visionless.
In a letter to the media over the weekend, Hinds said that “a vehicle buyer importing a 3000cc economy class vehicle is asked to pay the same exorbitant tariff as the buyer importing a 6000cc Bentley Continental.”

Chartered Accountant, Nigel Hinds

Additionally, he made note that the working class Guyanese are being relegated from accessing new vehicles that would feature the latest technology as they do not have access to tax concessions some officials enjoy when importing motor vehicles.
Hinds continued to paint this contrast by saying that a majority of the high end vehicles are owned by the persons in eminent positions while the average citizens are limited to the older and less advanced cars.
The Chartered Accountant said, “The foreign concession class, senior government officials, re-migrants, the ultra-rich and the mafia class in Guyana, are the most likely residents to be driving – new economy class vehicles that cost US$25,000-30,000/GY$6,000,000; or drive Corvettes, Range Rovers, Rolls Royce or Porsches, based on the concessions and financing available to this group. The Guyanese middle class have to consider themselves fortunate, if they are able to acquire a vehicle six to eight years old, with 2000cc or over.”
Hinds also expressed discontent with the fact that “stupendous tariff rates” are being imposed on Guyanese who are not eligible for duty free concessions.
He opined, “It is no wonder we have so many illegal schemes to avoid the vehicle tariff, resulting in resources wasted to manage and implement an out dated and illogical vehicle tariff structure.”
Hinds also questioned whether the government’s rationale for keeping such an archaic tax regime in place has to do with a policy to reduce fuel consumption and have Guyanese drive low cc vehicles. Even if one might want to assume such, he strongly emphasised that the vehicles being used by the nation’s ministers are not in keeping with such.

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