Business

Basically, every organization, from a one person start-up to multibillion dollar conglomerates, is at some phase of a business growth or development cycle.

Projections by the International Monetary Fund (IMF) and the Ministry of Finance in Trinidad and Tobago on the contribution that Value Added Tax (VAT) will make to total revenue collection in 2006 indicate that VAT could account for as much as 14.3 per cent of revenue collected in 2006.

Exports of non-traditional agricultural produce increased last year over the previous year by 165 tonnes contributing US$6 million ($1.2 billion) to the country’s export earnings.

Notes 1 – Interim results 2 – Prospective EPS: earnings per share for 12 months period to the date the latest financials have been prepared.

A former senior official in the local bauxite industry has told Stabroek Business that it is unlikely that the Government of Guyana can do a great deal to reverse the recent sale by IAMGGOLD of its 70 per cent stake in the bauxite operations at Linden to the Chinese mining giant Bosai.

Controversy associated with the January 1, 2007 implementation of the new Value Added Tax (VAT) persisted throughout the week as public disquiet grew over glitches in the application of the new tax regime.

The Guyana Power and Light (GPL) Inc is continuing its campaign to bring defaulters on electricity payments to justice and recently won judgement in three cases brought before Commercial Court Judge BS Roy.

This newspaper has published several articles on the delinquency of employers in the matter of remitting employee National Insurance Scheme (NIS) contributions.

Notes 1 – Interim results 2 – Prospective EPS: earnings per share for 12 months period to the date the latest financials have been prepared.

Lawyers for the plaintiff, Citizens Bank Inc, and the Defendant, the Attorney General representing the State of Guyana, have lodged written submissions with Justice Roy in the Commercial Court in the case that involves US $21.4 million worth of bonds issued by the Government of Guyana to the creditors of Guymine when that state-owned company was restructured in 1992.

The enhancement of employee capacity and improvement of information technology associated with upgrading the customer care and service delivery capacity of the National Insurance Scheme (NIS) has been identified as one of its major priorities under a reform project aimed at overhauling critical aspects of its operations.

The new Value Added Tax (VAT) which came into effect from January 1 this year appeared to have gotten off to a less than auspicious start with trading in the city being marked by a number of VAT-related controversies between businessmen and consumers.