Following a tax deal struck between the Guyana Revenue Authority (GRA) and Demerara Distillers Limited, the Private Sector Commission (PSC) today called on the GRA to apply the same formula in dealing with other aggrieved companies.
A statement by the PSC follows:
Private Sector Commission views with interest the settlement and compromise that the Guyana Revenue Authority has arrived at with Demerara Distillers Limited over the long outstanding consumption and excise tax issues.
We wish to congratulate the Company on the amicable resolution of this issue, which has been ongoing since 2002 – that is an achievement which took fourteen years and is also a credit to all concerned.
From the point of view of the Private Sector Commission, we wish to urge that the Guyana Revenue Authority now engage other aggrieved companies to apply similar formulae to correct the distortions in the market place resulting from this action.