Dear Editor,
As the revelations surrounding this business of remigrants’ duty-free concessions increase and gain traction, I notice silence from the all-seeing, all-knowing, and all-powerful Guyana Revenue Authority (GRA). Thus, a simple question emerges: What does the GRA intend to do about these revelations, if accurate?
Regardless of what the GRA intends to do or not do, the paying public needs be enlightened as to the probable number of connected people involved, and the potential vastness of the scam. This should not be allowed to degenerate into yet another instance of “police called in” (to do what?) or “investigations ongoing” (in which direction?). I believe that the time is way past for this powerful, secret society called the GRA to come clean by doing something tangible. I share how much could be possibly at stake, and how much should be done through some simple arithmetic.
First, duty-free trickery might number a hundred bodies, or a hundred luxury vehicles. For purposes of this illustration, let that number be reduced by half to only fifty vehicles.
Second, whatever the make and model of those luxury motors, an average price of US$50,000 is affixed to each of these status symbols. I think that this is more than reasonable, and suffices for this writing.
Third, 50 vehicles at US$50,000 each amounts to US$2.5 million in duty to be assessed and paid under normal circumstances. Already, it should be increasingly clear that, since normal circumstances were allegedly bypassed and special considerations were falsely (and criminally) claimed, that a whole lot of money might be due to the Guyanese treasury. Just how much is anyone’s guess, but still jaw dropping.
Fourth, the duty-free concession is the waiver of some 90% of what is usually levied, and for which remigrants become eligible after having satisfied very clearly stated criteria. This I know from personal experience.
Fifth, a quick calculation indicates that the amount waived at a 90% rate for 50 vehicles with a cumulative value of US$2.5 million would be approximately four hundred million Guyana dollars, using an exchange rate of 200:1 (GY to US), which everyone knows does not reflect the street. Remember this is pointing to 50 vehicles only; from unconfirmed intelligence, the number appears to be greater.
Sixth, whatever the amount-four hundred million, or eight hundred million, Guyana dollars-it is a whole lot of money that belongs to the Guyanese public, and should be recovered immediately from the ineligible and the vagabonds, who are one and the same; there should be additional fines, and people should be made examples (no I am not joking!).
I believe that funds recovered could help to temporarily boost the NIS so that it can assist those Guyanese who are in real need, and who are severely squeezed. It should be a very simple matter for the GRA to identify those who received concessions and determine whether they have fulfilled the stated criteria, inclusive of residency, transfers, usage, and ownership, among other things. As an aside, if memory serves well, some of the raucous political people mentioned in the unfolding scandal had priors in something similar years ago. They settled.
Yours faithfully,
GHK Lall
