Perspectives on the relationship between the Guyana Revenue Authority and taxpayers

By Rawle Lucas On In Business Review |
LUCAS STOCK INDEXThe Lucas Stock Index (LSI) rose 1.45 per cent during the first period of trading in January 2016. The stocks of four companies were traded with 66,740 shares changing hands. There were two Climbers and no Tumblers. The stocks of Guyana Bank for Trade and Industry (BTI) rose fell 6.38 per cent on the sale of 100 shares and the stocks of Republic Bank Limited (RBL) rose 2.61 per cent on the sale of 100 shares also. In the meanwhile, the stocks of Demerara Distillers Limited (DDL) and Demerara Tobacco Company (DTC) remained unchanged on the sale of 66,500 and 40 shares respectively.
LUCAS STOCK INDEXThe Lucas Stock Index (LSI) rose 1.45 per cent during the first period of trading in January 2016. The stocks of four companies were traded with 66,740 shares changing hands. There were two Climbers and no Tumblers. The stocks of Guyana Bank for Trade and Industry (BTI) rose fell 6.38 per cent on the sale of 100 shares and the stocks of Republic Bank Limited (RBL) rose 2.61 per cent on the sale of 100 shares also. In the meanwhile, the stocks of Demerara Distillers Limited (DDL) and Demerara Tobacco Company (DTC) remained unchanged on the sale of 66,500 and 40 shares respectively.

New board

As many Guyanese would be aware, a new governing board of the Guyana Revenue Authority (GRA) was established in June of last year to execute the mandates expressed in Section 12 of the Revenue Authority Act regarding the approval of policy, monitoring of the performance of the GRA and the discipline and control of the staff. Given the interest that Guyanese have shown in the efforts and conduct of the GRA in revenue collection, I have decided to make an exception this week and present some issues that were discussed with the local media at a press conference that was held recently. The principal issues discussed were the reasons for the existence of GRA, the importance of voluntary compliance and the risks of non-compliance with the tax laws. Of necessity, reference is also made to the nature of the relationship that the tax authority has with taxpayers. The following paragraphs contain some of those views.

Context

20150920lucas business page newThere is a context in which GRA operates. The only purpose of the GRA is to collect revenue so that the government can do the things that taxpayers want it to do for them. The executive must create an enabling environment so that the personal, family and business aspirations of Guyanese can become reality in a way that brings them satisfaction. Government must make people feel safe and they must make it possible for Guyanese to live in a clean and healthy environment. In addition to the needs of the executive, revenues are needed for the other branches of government. The legislative branch needs it so that it could get money to perform its law-making and oversight roles. The judicial branch needs it to get money to help protect the rights of citizens. Collectively then, revenue collection is needed to protect democracy and democratic rights, and help people to fulfil their ambitions. Taxpayers are asked to make a contribution to these efforts through the tax system. The GRA is given the special task of helping to put taxpayers of this country in a position to play this role.

The Board of the GRA is conscious that the GRA is perhaps the only public institution in this country that knows or is required