GRA to “detain” luxury vehicles in multi-million dollar tax evasion racket by importers

Last Updated on Thursday, 26 December 2024, 10:25 by Writer

The Guyana Revenue Authority (GRA) on Tuesday said it has begun widespread campaign to impound luxury vehicles for which there were false declarations that resulted in a massive evasion of millions of dollars in taxes.

“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,” the tax collection agency said in a statement.

The tax agency called on all persons involved in, or benefitting from this activity, to voluntarily visit its Headquarters at 200-201, Camp Street, Georgetown, and/or contact them on telephone no. 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 GRA assured that all those who comply with the voluntary declarations would not be prosecuted and their motor vehicles would not be seized or detained.

The GRA said the “racket”, estimated at hundreds of millions in lost taxes, saw several unscrupulous importers including a number of auto dealers, who falsely declared the engine capacity (cc) of several luxurious motor vehicles in violation of the laws, “in an effort to evade payment of the full and applicable taxes.”

The GRA warned that anyone found to have made, submitted or caused another person to make or submit such incorrect declaration may be prosecuted, in keeping with the relevant laws and the motor vehicles “may be detained or be seized, unless the full and applicable taxes, together with any applicable penalty are immediately paid thereon.”