-vehicles to be detained
The Guyana Revenue Authority (GRA) yesterday said that it has uncovered a racket, which is estimated to have cost “hundreds of millions in lost taxes” where unscrupulous importers including some auto dealers, have made false declarations as to the engine capacity (cc) of some luxury motor vehicles contrary to the provisions of the laws.
The revenue authority said it uncovered the racket as part of its due diligence aimed at collecting the rightful revenue due to the State.
The GRA says it has commenced a widespread tax compliance activity to detain all such motor vehicles, where the engine capacity, among other declarations, were falsely made. The GRA says it is advising that any person found to have made, submitted or caused another person to make or submit such incorrect declaration(s) may be prosecuted, in accordance with the applicable laws administered and the motor vehicle(s) may detained or be seized, unless the full and applicable taxes, together with any applicable penalty are immediately paid thereon.