GRA uncovers luxury car racket

Dec 25, 2024 News

Kaieteur News – The Guyana Revenue Authority (GRA) on Tuesday said that it has “uncovered a racket, estimated at hundreds of millions in lost taxes” where unscrupulous importers some of whom are auto dealers have made false declarations as to the engine capacity(cc) of some luxurious motor vehicles.

The Revenue Authority in a statement said the false declarations are contrary to the provisions of the laws administered and are done in an effort to evade payment of the full and applicable taxes.

“Consequently, the Revenue Authority has commenced a widespread tax compliance activity to detain all such motor vehicles, where the engine capacity, among other declarations, were falsely made.”

Further, GRA said that “any person found to have made, submitted or caused another person to make or submit such incorrect declaration(s) may be prosecuted, in accordance with the applicable laws administered and the motor vehicle(s) may be detained or be seized, unless the full and applicable taxes, together with any applicable penalty are immediately paid thereon.”

The Authority encouraged persons involved in or benefiting from the false declarations to voluntarily visit its headquarters at Camp Street, Georgetown or call telephone numbers 225-5061 ext. 2501-2508 to immediately commence the process to have such motor vehicle deemed entered, by payment of the full and applicable taxes and penalties to avoid prosecution.

“The Authority advises that all such cooperative persons who comply with voluntary declarations will not be prosecuted neither will their motor vehicle/s be seized or detained,” the statement assured.

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