Mohameds dispute GRA’s massive $191B tax claim

Oct 09, 2025 News

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…say lawyer to respond to demand letter

(Kaieteur News) – Businessman Azruddin Mohamed has hit back at the Guyana Revenue Authority (GRA) over claims that his company, Mohamed’s Enterprise, understated more than $34 billion in income over five years — figures which the tax body says have ballooned with interest and penalties to a staggering $191 billion. He also said that the company’s attorney will respond to the GRA’s letter.

In an invited comment on Wednesday Azruddin Mohamed said too that the letter of demand by the GRA is part of the government’s “orchestrated attacks against him, given his party’s – WIN strong performance at the recent general and regional elections. In a previous statement he had said that: “my emergence into Parliament after campaigning for only three months sends a clear message of how quickly our movement has changed the political landscape in Guyana. It was declared that WIN has 16 seats, though that allocation does not reflect our numbers on the ground. We are grateful because this result is a remarkable achievement on entry. The PPP knows what is at stake in 2030, and they want no challengers in Parliament. The PPP holds a majority; why then are they stalling to convene the 13th Parliament and swear in the duly elected opposition?”

He said fearing the momentum seen at the last election and the cry of the Guyanese people for change, “they (PPP/C) are doing everything possible to stop me. The constant attacks, whether directly or indirectly, are to weaken me, with hopes that if they hit hard enough, I will cower and retreat. Truth be told, if I rid myself of my political ambitions, these attacks will cease, but I, Azruddin Mohamed, leader of We Invest in Nationhood and Leader of the Opposition (Elect), reaffirm my commitment to you, the Guyanese people. I will continue to stand up and fight, no matter the cost.

Please know that for the love of country and on the principle of service over self, I stand resolute. I will not be silenced. When the wicked came to eat up my flesh, they stumbled and fell. Though they encamp against me, I shall not fear. To my supporters, thank you for standing with me,” the statement concluded.

Demand letter

The GRA in a demand letter has accused the gold dealers: Nazar “Shell” Mohamed and his son, Azruddin Mohamed, of Mohamed’s Enterprise, of massive underreporting of income between 2019 and 2023, resulting in billions of dollars in unpaid taxes.

Azruddin, who leads the We Invest in Nationhood (WIN) Party, is already before the magistrates’ court facing a multimillion-dollar tax evasion charge. That case, brought by the GRA, stems from alleged false declarations and underreporting of the purchase price of a luxury vehicle imported in 2020.

In a fresh move, a letter dated October 2, 2025, addressed to Nazar and Azruddin Mohamed, states that GRA is seeking billions in taxes from Mohamed’s Enterprise. The demand arises from $34 billion in understated income declarations for the period 2019 to 2023.

According to GRA, its review of the company’s filings showed that over $34 billion in income taxes were understated. With accumulated interest and penalties, the total sum now owed to the state stands at more than $191 billion. “The revenue authority has conducted a review of the income and property tax returns submitted in relation to the above years of assessment. This review, together with additional information received from other tax and financial agencies, have revealed that you failed to submit true and correct returns for the said years of assessment 2020 to 2024 (years of income 2019 to 2023),” the authority said in the letter.

GRA reminded the businessmen that submitting untrue and incorrect tax returns is an offence under Section 110 of the Income Tax Act. It said the false declarations directly affected the liability to income tax that should have been paid. “Accordingly, as a result of the untrue declarations made, income tax in the sum of $34,067,322,989 were understated for the said period 2019–2023,” it was stated.

Further, the authority explained that the understated taxes attract interest and penalties in keeping with the financial administration and audit act and the Income Tax Act. “An accumulated sum of $191,171,975,676 as per the attached computations, is due, owing and payable to the revenue authority by Nazar and Azruddin Mohamed, trading as Mohamed’s Enterprise. For ease of reference, kindly be guided by the attached document, which shows a detailed breakdown of the taxes due, owing and payable,” GRA said.

The tax body has given the Mohameds an opportunity to respond to the outstanding tax liability and to show cause why proceedings should not be instituted against them.  “Please note, if you fail to respond with legal justification/s within 14 days of service of this letter, the revenue authority may be forced to take necessary actions against you, without further notice, for the act committed and to have the taxes payable recovered, in accordance with the laws administered,” GRA warned. Additionally, GRA also disclosed that it is investigating Mohamed’s Enterprise prior years of income. Once the investigation is complete, the businessmen will be notified of the findings and given a reasonable time to respond.

The Mohameds legal tropubles deepened on Monday when it was revealed that both the father and son were indicted in a United States federal court in Miami, Florida on 11 charges of wire and mail fraud, conspiracy to commit money laundering and the importation of a Lamborghini luxury car- all stemming from accusations of massive tax fraud committed against Guyana.

The indictment, unsealed on October 2, 2025, accuses the Mohameds of orchestrating an elaborate fraud and money-laundering scheme involving gold exports, customs fraud, bribery, and the evasion of millions in taxes and royalties owed to Guyana. The indictment seen by this newspaper charges that Mohamed’s Enterprise, the Guyana-based gold wholesaling and export company controlled 90 per cent by Nazar and 10 per cent by Azruddin, is alleged to have sold gold to buyers in Miami and Dubai, while circumventing Guyana’s revenue and regulatory system.  In June 2024, Nazar, Azruddin and their businesses were sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC). The Mohameds were sanctioned for alleged gold smuggling. Azruddin earlier this year launched WIN, and contested the 2025 General and Regional Elections that were held in September. His party accumulated the second-highest votes, earning 16 seats in the National Assembly which is expected to convene soon.

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• Azruddin Mohamed, Guyana Revenue Authority, Tax Fraud

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