Dear Editor,
There have been many recent calls for the GRA to play a bigger role in oil and gas cost-recovery audits. While the authority is no doubt experienced in review of financial records for tax purposes, there is too much of a difference between tax and cost recovery to commingle these two functions. The reviews are quite different in nature and expenditure, for example, allowed under tax laws might not be allowed under a cost-recovery audit.
The GRA also has a resource constraint as reported by none other than the Commissioner-General himself.
The GRA must therefore stick to its mandate – administration of the tax laws of Guyana – while a separate authority must be responsible for cost recovery.
Yours faithfully,
(Name and address provided)
