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Govt. passes six Bills in opposition’s absence… Tullow granted property tax exemption
The National Assembly yesterday passed one motion and six bills in the absence of the parliamentary opposition. The Opposition has refused to
The Parliamentary Opposition did not attend yesterday’s sitting of the National Assembly
return to Parliament until the ruling by the Caribbean Court of Justice (CCJ) on the No Confidence Cases, gives them direction on the way forward.
The motion passed is the Petroleum (Exploration and Production)(Tax Laws) Order 2019 – No. 2 of 2019, while the bills passed are the Interception of Communications (Amendment) Bill 2019, the Procurement (Amendment) Bill 2019, Customs and Trade Single Window System Bill 2019, the Customs (Amendment of Schedules) Bill (2019), the National Accreditation Council (Amendment) Bill 2019, and the National Accreditation Council Act 2004 (Validation) Bill.
The Assembly also adopted several reports, namely the Fourth Period Report of the Parliamentary Sectoral Committee on Natural Resources, the Fifth Periodic Report of the Parliamentary Sectoral Committee on Natural Resources, the Sixth Periodic Report of the Parliamentary Sectoral Committee on Natural Resources, and the Report of the Special Select Committee on the Food Safety Bill 2016.
TULLOW GRANTED PROPERTY TAX EXEMPTION
The motion passed is the Petroleum (Exploration and Production) (Tax Laws) Order 2019 – No. 2 of 2019, which affirms the tax waiver afforded to Tullow Guyana B.V., under the Production Sharing Agreement for the Orinduik Block. The tax exemption is based on a provision in Section 51 of the Petroleum (Exploration and Production) Act, which allows for any and all of the four tax Acts listed in subsection 2 of Section 51 to be waived, if so mandated by an agreement. In this case, Tullow was granted a waiver of the Property Tax Act, as the Minister agreed to in the PSA for the Orinduik Block.
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