The Guyana Revenue Authority (GRA) has uncovered a tax evasion scheme involving false declarations on the importation of luxury motor vehicles, resulting in an estimated loss of hundreds of millions in revenue.
According to the GRA, some importers, including auto dealers, have deliberately underreported the engine capacities (cc) of luxury vehicles to evade paying the full taxes mandated by law. This fraudulent practice violates tax regulations and deprives the state of critical revenue.
In response, the GRA has initiated a large-scale tax compliance operation. Vehicles identified with false declarations will be detained or seized unless the full applicable taxes, along with penalties, are paid immediately. The agency also warns that individuals involved in making or submitting incorrect declarations, or causing others to do so, could face prosecution under the law.
To encourage compliance, the GRA is offering an opportunity for individuals to voluntarily declare and regularize their tax obligations. Importers are urged to visit the GRA headquarters at 200-201 Camp Street, Georgetown, or contact the agency at 225-5061 ext. 2501-2508, to begin the process. Those who come forward voluntarily will avoid prosecution, and their vehicles will not be seized or detained.
The GRA reiterates its commitment to ensuring fair tax compliance and emphasizes its role as a partner in the nation’s development. The agency encourages all stakeholders to act responsibly and fulfil their obligations to avoid legal consequences.
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