The Grand Coastal Inn will have to pay to the Guyana Revenue Authority (GRA) the more than $31M it owes in value added taxes (VAT) after the Guyana Court of Appeal on Monday ruled that the procedure used by the Revenue Authority to assess its VAT liability was lawful.
In fact, the court noted that it was the process used by the hotel to mount its challenge against the GRA which was unlawful having regard to statutory stipulations which it contravened.
In this regard, the appellate court pronounced that Grand Coastal’s action sought to falsely secure for them the temporary financial respite at the expense of the nation as the case wound its way through the court for over seven years.