The Guyana Manufacturing and Services Association (GMSA) said it is concerned about misinformation published that may jeopardise certain businesses in the local manufacturing sector.
In a press release the association said it is concerned about certain statements made by officials/organisations that have been reported in the media “to peddle incorrect information just to satisfy an agenda.” It has also complained to various business owners in the manufacturing sector about statements made in the media that have the potential to harm the reputation and progress of these businesses.
The GMSA said it has observed instances where certain companies are targeted, particularly those owned by foreigners, and the owners are then forced to spend time, effort and money on damage control. Recently, the association had in its possession a statement from the Guyana Consumers Association (GCA) that “contained quite a bit of misinformation” and some of this content was published in at least one print media outlet.
According to the GMSA the article gave the impression that if a company sells a product that the Guyana Revenue Authority has zero-rated, then that company enjoys some special tax benefit. The GMSA is shocked that this information was peddled by the GCA as “every person would reasonably expect the executives of this association to at least know that VAT is a tax which is targeted at and borne by consumers, the end users.”
The GMSA also added that if the consumer group “wants to be taken seriously” its executive must at least have a working knowledge of the country’s laws and the functions of its main institutions. The GCA should also know that every legitimate company in Guyana must file annual tax returns along with their financials, it noted.
The release also noted that the local manufacturing sector is small and companies continue to struggle to remain viable. “In instances where these private business owners stumble or engage in activities that are detrimental to this nation, the GMSA would be and usually is among the first to recommend or institute sanctions/penalties,” it said. The GMSA is offering its services to the GCA and any other organisation that needs clarification on issues related to the conduct of business in Guyana.
