Finance Minister urges timely payment of tax refunds
Senior Minister in the Office of the President with responsibility for finance, Dr Ashni Singh is calling on the Guyana Revenue Authority (GRA) to ensure that taxpayers who are legitimately entitled to tax refunds receive their payments in a timely manner.
The Minister observed that taxpayers often complain that they have to wait an inordinate length of time before they receive tax refunds to which they are entitled.
He pointed out that extended delays in paying tax refunds can have severe adverse effects on the cash flow of businesses and households, which in turn could affect both consumption and investment, and ultimately be a drag on economic activity as a whole.
The Minister emphasised, however, that more timely refunds should not in any way compromise the rigour with which GRA verifies the legitimacy of each refund payable. Instead, Minister Singh stated that the verification and payment processes should be made more efficient to ensure that refunds are both thoroughly verified and promptly paid.
The Minister’s call for more timely processing of tax refunds comes against the backdrop of a broader drive for improved service quality across public sector agencies.
At GRA, the Minister recently addressed senior management of the Authority and directed them to work immediately to improve the quality of their interaction with taxpayers, emphasising the importance of the highest standards of integrity and efficiency across all aspects of their operations.
Due to the outbreak of the COVID-19 pandemic in Guyana, GRA had extended the April deadline for the submission of tax returns. The last deadline was September 20, 2020.