Tax consultants, BDO, sets up office in Guyana

Feb 08, 2020 News

Tax and consulting advisors, BDO, have opened operations in Guyana with the aim of capitalising on opportunities offered by the evolving oil and gas industry.

BDO launch:
Nayak Ramdahin, Head of International Tax; Frank Soe-Agnie, Partner in Suriname; Anamika Mangroo, Director in Suriname; Albert Lopez, CEO of Americas; Rakesh Latchana, Partner in Guyana and Nadia Latchana, Roma Ali and Riaz Ali, Partners of TT.

On Thursday, BDO Chartered Accountants, officially announced the opening of its office in Quamina Street, Georgetown, Guyana.
The firm offers audit and assurance services, tax compliance and advisory services, business services outsourcing such as payroll and accounting, and a wide range of other professional services.
The Guyana team is entirely staffed by local personnel. It is headed by Rakesh Latchana, a member of the local accounting fraternity for over 20 years.
He is also a member of the SME Implementation Group of the International Accounting Standards Board.
At a reception held at the Georgetown Marriott, Latchana said he was “extremely proud to be a part of this historic occasion.”
“One of the largest professional services firms in the world is now firmly established in the Guyana market. BDO’s global vision and brand promise is to be the leader for Exceptional Client Service and our clients can expect to see this promise delivered.”
In the Caribbean region, BDO’s network now extends to 21 countries. The Guyana office will have access to global network resources and will be working especially close with teams in Trinidad and Suriname.
BDO said its international network extends across 167 countries and territories, with 88,120 people working out of 1,671 offices. Global revenues for the year to September 2019 totaled US$9.6 billion or €8.5 billion, a 10.1% increase over the prior year.
BDO refers to one or more of the member firms of BDO International Limited, which forms part of the international BDO network of independent member firms.
BDO, Chartered Accountants, a Guyana partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.
“BDO is not new to the Guyana market. BDO offices, particularly those in the Caribbean, have served Guyanese companies and regional companies with operations in Guyana for over 10 years.
“More recently, BDO’s UK office served as the Independent Administrator to prepare Guyana’s first EITI report – that report was released in April 2019,” Latchana explained.
“We have heard both lofty and tempered predictions on expected growth in Guyana’s economy from the year 2020. Regardless of who you believe has adopted a more appropriate model – one thing is clear, we are on the cusp of a transformation. There was never a better time for BDO to firmly establish its presence.”
He said that local content has probably been one of the key topics of discussion since the advent of the local oil and gas industry.
“There is constant debate on how Guyanese will benefit from our national patrimony. But what is local content? Is it only hiring local staff or is it adding local value? Here is how we differentiate ourselves – local ownership, 100% local staff and local knowledge. We cannot however do it all on our own.
“Our partners are here to help us develop our knowledge and bring global resources to Guyana – whether it is industry knowledge, proprietary know-how or technology.”

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