Government has green-lighted a proposal submitted by Minister of Business, Dominic Gaskin to introduce a ‘Trusted Trader’ programme to benefit legitimate businesses in Guyana, a release from the Ministry of the Presidency said today.
This proposal stemmed from complaints received over the past 10 months that the refusal of several well-established businesses to pay inducements to public officials has led to them being targeted with delays in the processing of their transactions.
The release said that this has, in many cases, resulted in commodities with short shelf lives being left on the wharves to expire, while minor queries are used to delay the importation process for weeks. These actions have led to the loss of millions of dollars to businesses, which in turn, affects Government’s revenue collection.
The release said that the Trusted Trader status will be conferred on businesses that meet certain criteria related to their history of compliance.
“This status will allow for the release of consignments prior to the processing of import documents, as well as other benefits that acknowledge the high level of trustworthiness implied in the status”, the release said.
“Cabinet will appoint a Working Group with representatives from the Ministries of Business and Finance (Guyana Revenue Authority) and at least one other interested Ministry, to undertake consultation with stakeholders. The Working Group will be expected to submit a report with specific and detailed recommendations to Cabinet by April 29, 2016”, the release added.
