The Guyana Revenue Authority (GRA) has issued a warning to taxpayers against submitting dishonoured cheques, saying that they could face prosecution under the law for the offence and potential blacklisting.
The GRA issued the warning on Friday in light of what it said was the increasingly prevalent practice of taxpayers and their representatives uttering dishonored cheques to the Authority.
“Taxpayers are also advised that notwithstanding the penalty outlined above, associated interest and penalties continue to accrue from the due date of the payment until the liability is settled in full. Consequently, the Authority advises that entities making payments to GRA by cheque must ensure that the information detailed thereon is accurate and that sufficient funds are available in their respective bank accounts to process such payments,” it said in a statement.
Successful prosecution of persons who tender dishonoured cheques could result in imprisonment.
Additionally, the GRA warned that persons effecting payment by dishonoured cheques due to insufficient funds will be blacklisted and not allowed to make payments by personal cheques for a minimum period of six months after the first instance, twelve months upon a second instance and permanently thereafter.
It said payments effected by such defaulters must thereafter be by cash if less than 2 million dollars, in keeping with Anti-Money Laundering regulations, or by Manager’s drafts for any amount. “Taxpayers are reminded that GRA will not accept cash payments exceeding two million dollars ($2M) as a result of security concerns for both the Agency and general public,” it added.
The GRA also urged taxpayers to take advantage of the convenient and secure electronic payment options available through MMG, Bill Express and any of the bill payment facilities at Demerara Bank, Guyana Bank for Trade and Industry and Republic Bank.
