Over $1B recovered in post exemption exercises

Over $1B recovered in post exemption exercises – GRA Boss

Jan 11, 2020 News

About four years ago, the Guyana Revenue Authority (GRA) engaged in several activities which led to the significant reduction in the award of exemptions. In fact, the authority held several post-exemption exercises which resulted in over $1B being recovered from 2016 to 2018.

GRA Commissioner General, Godfrey Statia

Making this revelation was GRA Commissioner General, Godfrey Statia, in a statement to the media, yesterday. His comments are in wake of several news reports which speak to the findings of Auditor General, Deodat Sharma, on the 2018 performance of GRA and other Government agencies.
Statia said he observed several media reports, quoting the Auditor General Report, on the exemptions granted by GRA, all of which seem to suggest that there was a considerable increase in the exemptions his agency granted. But the tax chief said nothing could be further from the truth.
Statia said if one compares the exemptions granted from 2013 to 2016 and from 2016 to 2018, the figures would substantiate his conclusion that GRA has been successful in its efforts to prudently manage the award of exemptions.
The tax chief noted that for the period 2013 – 2015, Conditional Exemptions (excluding the unavoidable oil and gas applicants) were as follows: 2013 – $45.78B; 2014 – $53.27B, and 2015 – $72.72B. For the period 2016 – 2018, this same category was $30.73B; $35.80B; and $43.65B respectively.
With respect to unconditional Exemptions for the period 2013 – 2015, the total was $34.09B, while for 2016 – 2018, the total was $49.64B.
Furthermore, under the category of Conditional Exemptions, Statia noted that the main benefactors was the sub category Companies / Business. For the period 2013 – 2015, Companies and Business benefitted to the tune of $119.04B, while for the period 2016 – 2018, Companies and Business (excluding oil and gas), the value was $76.68B, some $42.36B less when compared.
Turning his attention to re-migrants, a category of Conditional Exemptions that was previously abused as was alluded to by previous Auditor General Reports, Statia highlighted that this was reduced by $2.56B from 2016 to 2018.
Additionally, for the years 2016 – 2018, Statia said that the sterling efforts of the GRA has led to the recovery of in excess of $1 billion dollars from Post Exemption exercises (including sale of seizures to recover taxes) conducted on beneficiaries, who would have otherwise been declared fit and proper for the exemption by external agencies.
Statia said, therefore, that any sound analysis that should have guided an informed conclusion or audit opinion on this matter should have been based on empirical data.
Statia said that regrettably, the Auditor General nor the media house that reported on the issue of exemptions seem inclined to present the Guyanese public with well-informed positions.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News