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Six years after oil discovery, Govt. now scrambling to boost GRA’s capacity
Kaieteur News – Six years after Guyana struck oil in the lucrative Stabroek Block, the new petroleum exporter still finds itself scrambling to strengthen the Guyana Revenue Authority’s (GRA) ability to meet the tax demands of the booming industry.
Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh
Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh said recently the Government is working on upgrading the GRA’s system, since oil and gas “is a completely new sector to the Guyanese landscape.”
In a recent interview, he said new skills are needed in the tax authority to administer and discharge the responsibilities relating to oil and gas.
“There is an oil and gas department that was recently established and we are currently working on building the capabilities in that department, including things like audit capabilities et cetera, to be able to perform the important responsibilities that the GRA has with respect to the oil and gas sector,” the Senior Finance Minister explained.
But even more broadly, Dr. Singh noted that the People’s Progressive Party/ Civic (PPP/C) government wants to strengthen capabilities in taxpayer audit and tax enforcement. That work, he said, is “very much ongoing.”
He went on to say that the tax collector is implementing a new information technology system, the Revenue Management System (RMS), which will modernize its operations.
Against this backdrop, the Finance Minister said, “We are currently in the process of introducing greater online capability so that people can interface with the GRA in an online environment. There are some things that you should not have to go to the GRA to do, such as picking up a tax declaration form or assessment form or to complete and submit your form. There are a number of services that should be capable of being performed online.”
He said the task of building and equipping institutions to manage Guyana’s economy is ongoing. However, the Minister said that the GRA has made a lot of progress since its establishment, becoming the single revenue authority collecting all taxes in Guyana.
Dr. Singh indicated that having the single GRA has enabled Guyana to have a more comprehensive view of tax collection processes. Be that as it may, he recognized that the country needs to do more to strengthen and modernize its systems. This, he said, will be aimed at responding rapidly to the changing realities of the Guyana economy.
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