Tag Archives: Khurshid Sattaur

GRA Tax exemptions, concessions last year amounted to quarter of Nat’l Budget

08/13/2015 – 2:25 am

GRA Tax exemptions, concessions last year amounted to quarter of Nat’l Budget

AUGUST 12, 2015 | BY KNEWS | FILED UNDER NEWS

“GRA was politically compromised, lacked accountability” – Jordan

Tax exemptions and concessions granted last year amounted to an astounding $55B (US$275M), with the new Government on Monday vowing widespread reforms to fix a broken system.

During his maiden National Budget presentation on Monday, Finance Minister Winston Jordan made it clear that the situation was totally unacceptable with evidence that the Guyana Revenue Authority (GRA) was politically compromised under the previous administration of the People’s Progressive Party/Civic (PPP/C).

 However, according to Jordan, on assumption to office, they found a tax system that is characterized by high rates. This resulted in “innumerable requests for tax exemptions and concessions, which totaled $55 billion, in 2014.”   Continue reading →

By guyaneseonline | Posted in Business, Economics/Finance, finance and trade, Government, Guyana, Personalities | Also tagged , , , , , , , , , , | Comments (2)

Govt orders probe into duty-free concessions…GRA officials in fraud scheme

10/09/2014 – 10:34 am

Govt orders probe into duty-free concessions…Report fingers top GRA officials in fraud scheme

OCTOBER 9, 2014 | BY    A Government-ordered independent probe into a reported racket involving duty-free concessions for vehicles has implicated two top officials of the Guyana Revenue Authority (GRA).
GRA’s Khurshid Sattaur

GRA’s Khurshid Sattaur

A senior Government official yesterday confirmed that the investigations were quietly ordered by the Office of the President earlier this year with the report fingering the senior official and one of his top aides who works in the Tax Exemption Processing and Verification.
The probe was launched after complaints were made into the scheme which saw hundreds of millions of dollars being diverted from the tax coffers.
The revelations would come as GRA Commissioner General, Khurshid Sattaur, is in deep trouble with his independence being questioned after a series of shocking email were published in Kaieteur News. These indicated the release of sensitive tax information for private media houses. The information was sent to former President Bharrat Jagdeo. Continue reading →

By guyaneseonline | Posted in Business | Also tagged , , | Comments (2)

Major probe launched into remigrant vehicle racket

02/23/2014 – 10:20 am

Major probe launched into remigrant vehicle racket

FEBRUARY 23, 2014 | BY  | FILED UNDER NEWS

A major police investigation has been launched into a multi-million dollar fraud scheme involving duty free concessions for vehicles, with the Guyana Revenue Authority (GRA) yesterday saying that former staffers may be involved.GRA’s Commissioner General, Khurshid Sattaur

GRA’s Commissioner General, Khurshid Sattaur >

With millions of dollars at stake, Commissioner-General of the GRA, Khurshid Sattaur disclosed that “recently, it was reported to management that persons allegedly posing as remigrants are benefiting others who are supposedly financing highly illegal schemes to grant themselves with the concessions for various classes of luxury vehicles.”   Continue reading →

By guyaneseonline | Posted in Uncategorized | Also tagged , , | Comments (1)

Tax chief worries about $5000 note being counterfeited

11/22/2013 – 7:05 am

Tax chief worries about $5000 note being counterfeited

NOVEMBER 21, 2013 | BY  | By Kiana Wilburg
GRA's Khurshid Sattaur

GRA’s Khurshid Sattaur

While the Commissioner General of the Guyana Revenue Authority (GRA), Khurshid Sattaur, fully supports the recently launched $5000 note, he expressed some concern over the possibility of the new denomination being forged.

Mr. Sattaur said that when the note goes into circulation on December 9, it will make their processing system a bit lighter and easier especially as it relates to the amount of money they have to count and take to the bank.

The Commissioner General added that the new denomination will only serve to improve Guyana’s economy and will certainly assist the Bank of Guyana in responding to the increase in the number of transactions being done as Guyana prepares to welcome the Christmas season.    Continue reading →

By guyaneseonline | Posted in Business, Economics/Finance, Government, Guyana | Also tagged , , , , , | Comments (4)

GRA targets smugglers at Guyana/ Suriname border

06/26/2012 – 5:38 pm

GRA targets smugglers at Guyana/ Suriname border

JUNE 26, 2012 | BY  |

Boat owners plying their trade at the Guyana/ Suriname border are now required to report to Customs at Corriverton and Nickerie, with valid Customs Clearance for the boats, as the Guyana Revenue Authority (GRA) in collaboration with senior officials of Suriname Customs and Excise Department implemented various initiatives to curtail smuggling activities.  This is in response to reports of persons submitting forged documents at the Guyana/Suriname border in a bid to defraud the tax system.

Currently, the Customs officials from both countries exchange information daily. Consequently, more boat owners are now reporting to Line Path, Corriverton and paying the relevant duties and taxes. The tax agency noted that these initiatives have resulted in significant revenue collection, since during May there has been a reduction in revenue collection at Corriverton.   Continue reading →

By guyaneseonline | Posted in Business, Economics/Finance, Governance, Government, Guyana | Also tagged , , , , | Comments (0)
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