GRA looks to charge ‘appropriate’ rates

Steel taxes

The Guyana Revenue Authority (GRA) is denying that there have been any increases in the applicable taxes paid on steel imports into the country, but rather it is simply looking to charge the ‘appropriate’ rates.

The matter was first reported by Chairperson of the Public Accounts Committee (PAC) Irfaan Ali, who was at the time addressing a public gathering at the Sleepin Hotel. Ali indicated that there had been an increase in the applicable rates to be charged. He told that gathering that this was circulated by Finance Minister Winston Jordan.

The Finance Minister subsequently denied that he had made any such order, since it was in fact an initiative of the GRA.

The revenue collection agency has since attempted to explain its actions by saying it was looking to fix some anomalies that had been discovered.

According to a public missive issued by the tax body, “Recently some anomalies were identified in relation to classification of some of the steel and steel products imported by several businesses in Guyana.”

The GRA’s statement said, “These anomalies led to the request for Mill Test Certificates from additional suppliers to confirm the chemical composition of the imported steel and steel products, and thereafter charge the appropriate rate of either five per cent or 10 per cent depending on that composition.”

According to the GRA, “This exercise is presently being done by the Harmonised System Classification Committee of the Guyana Revenue Authority in accordance with the provisions and established guidelines of the World Customs Organisation (WCO), after which the affected parties will be so notified.”

The tax collection agency has since sought to assure that, in the interim, all steel and steel products imported will be released to importers with the right retained by the GRA to collect duties at the correct rate for the said steel and steel products.