SCA

I WAS MERELY asking you to clarify, unfortunately the conversation got a little heated. 

::LOL::

krishna always takes side....

who run Bolt

Thinks were getting kinda personal under the Tree.

wuss than PPP vs PNC    :-[

[move]
Quote from: Meseret on 10/12/2015, 02:47 PM

Just like it's waaaayyyyyy too early for them to give themselves a raise, it's also waaayyyyyyyy too early to conclude
that their performance is piss poor. 
[/move]


The nuances of language is lost...IS can't be too late!!!

But the PNC IS stinking up the joint...no question about that. ::LOL:: ::LOL:: ::LOL::
they have a saying: What you can't see daytime, don't wait to see night time! 

If this is true...then the carnage has just begun...they will have gutted the will of the people. maybe, they will get a donkey cart economy after all.

Management, smanagement...more to come.

Tax collections dip $300M on imported vehicles

October 21, 2015 By GuyanaTimes


Plunging auto sales

…signal consumer “loss of confidence” in economy

By Kristen Macklingam

Guyana’s economy continues to suffer tremendously with both the Private Sector and Government entities recording

According to the Mid-Year Report released by the Finance Ministry, excise tax collections from motor vehicles declined by $309.7 million
According to the Mid-Year Report released by the Finance Ministry, excise tax collections from motor vehicles declined by $309.7 million

massive losses in tax collections in comparison to the same period last year.
According to the Mid-Year Report released by the Finance Ministry, excise tax collections from motor vehicles declined by $309.7 million dollars this year on account of decreases in the number and value of imported motor vehicles.
A source at the Guyana Revenue Authority (GRA) on Tuesday told this newspaper that the effects of the declining economy have severely affected the purchase and importation of new vehicles.
According to the source, at present, the PTT series for motor vehicles is yet to be exhausted and it does not appear that the new PUU series will commence anytime soon.
Every year, there are two series per year. In 2013, the PRR series went quickly and the PSS series began as a result of the high influx of motor vehicles into Guyana.
However, according to the source, it was expected that the PTT series would have culminated some time in September, but due to the on-going troubles in the economy, this does not seem likely.
“The PTT series most likely will go beyond the timeframe … we at GRA had anticipated.  Normally, a series ends after 9999 vehicles have been registered and it was expected that by September, the PTT series would have ended and the PUU series would start. But, according to our registration records, the PTT series will go beyond the end of the year,” the source said.
Guyana Times was told that the suspicion is that registration is slow because the slow growth of the economy. This has resulted in persons not having the spending power or confidence in the economy as was previously demonstrated. Cars are not as large a purchase as houses, which have suffered an even steeper decline, so it means that individual car buyers are not confident of their income flow from jobs or businesses to make the investment.
This suspicion has been confirmed as auto dealers on Tuesday expressed their frustration at the flattening economy.
Speaking with this newspaper, auto dealers throughout the country said that they were facing difficulties owing to the downturn in the economy. This has had an adverse effect on sales for many of these businesses resulting in a number of owners having to reduce interest rates on vehicles as well as reduce monthly instalments for customers.
Malik Rasheed, a representative from Trans Pacific Motor Spares & Auto Dealers, told this newspaper on Tuesday that for the period of January 2015 to October 2015, in comparison to the same period for last year, sales have dropped at the company at an average of 30 per cent.
“Economy-wise when we compare last year to this year it has slowed up a lot and not just for us car dealers but other businesses too…Because of the slow market we have opted to reduce out down-payment rates to 20 per cent on vehicles and we have reduced our interest rates so that people now have three years to pay for their vehicles. But with such low down payments, we are hardly gaining any profit, in some cases we don’t make any profits, but we are trying to keep our relationship with our customers,” Rasheed explained.
He emphasised that both the GRA and the Government of Guyana needed to ‘look into’ this situation as soon as possible and to address it for the betterment of all Guyanese.
“We have our promotion running until the end of this year and we are doing all we can to attract and keep customers at the same time, seeing with them. We hope that things pick up soon because we may end up operating mostly on losses. The GRA and Government need to look into the various issues affecting the economy especially for us auto dealers,” he added.
Best Buy Auto Sales owner Richard Singh told this publication on Tuesday afternoon that he has noted a decline in sales for his company.
“There has been a bit of decline and we have seen some patches with ups and downs in sales. Sales are not what it should be at this point in time…We still have our loyal customers and we are just hoping that things get better because the truth is that the sales aren’t as they are expected to be,” Singh stated.
Guyana Times understands that during the past months many business proprietors throughout the regions in Guyana have been complaining that the stand-still and inevitable state of the economy thus far has badly affected profits.
In some cases, persons had to be laid off to ‘cut costs’ as some businesses were not making profits and/or any ‘turn-overs’.
Meanwhile, according to the Mid-Year Report, the country’s economy declined some 2.5 per cent in the first half of this year when compared to the same period in 2014. The report outlined that initially, Guyana’s half-year growth was estimated to be at 0.9 per cent. However, with the passage of time and the benefit of actual first-half performance figures in a number of sectors, the country’s real Gross Domestic Product (GDP) recorded a growth of 0.7 per cent in the first half of 2015, with non-sugar GDP recording a growth rate of 0.8 per cent.(This email address is being protected from spambots. You need JavaScript enabled to view it.)

Are they targeting "self-employeds"....hmmm...that is like race based. Self employeds are mostly Indos...well...they get it good now. Fishermen, rice producers, cane producers, farmers...allyuh hold strain...you have to cough up the money to compensate the minstas.

Now this government is levying taxes on alcohol too...guess what? Bush oil gon mek a come back...people will have to resort to illegal means to enjoy the lifestyle they had just recently. 


Jordan instructs GRA’s Boss to go after tax evaders, smugglers

October 21, 2015 | By KNews | Filed Under News 

The Guyana Revenue Authority (GRA) is currently in the process of strengthening its Law Enforcement and Investigative Division (LEID), as the authority moves to tackle smuggling.
Finance Minister, Winston Jordan, in a recent interview with the Governme

nt Information Agency (GINA), explained that GRA is now focusing on several additional areas of tax collection and law enforcement, to ensure compliance with the laws.
“I have been engaging the Commissioner and the staff … on more than one occasion, on the need to tighten enforcement and collection. I had this discussion only two days ago after looking at the revenues and so on, and I pointed to a number of areas that need to be given greater attention and the Commissioner was in agreement.”
Jordan explained that at the moment, GRA is in the process of shifting staff and strengthening the various departments, and that these necessary changes will become visible in the coming weeks.
Referring to a recent meeting with GRA’s Commissioner-General, Khurshid Sattaur, Minister Jordan disclosed that he asked the tax boss to beef up enforcement and anti-smuggling activities, “because smuggling is still big business in this country.”
The Minister is of the view that it is time that revenue agencies have a significant part of their staff in the fields, rather than operating out of air conditioned offices.
He, however, paused to commend GRA’s staffers.
“First, I want to pay a compliment to GRA and the staff for the work that they have done over time. They have consistently surpassed targets that were set, but having said that, there is quite a lot of work to be done.”
The Minister pointed out that significant emphasis needs to be placed on enforcing the relevant laws, as this is critical to the tax collection process, specifically in the area of self-employment.
“There are a number of self-employed, particularly high profile self-employed, who are paying some taxes to avoid the prying eyes of the Commissioner, or paying no taxes at all. We know two of those high profile categories, and I have asked him to pay far more attention than he has done in the past.”
With regard to stamping out smuggling, the Minister explained that an assessment of the Berbice Anti-Smuggling Squad (BASS) was done, and it was discovered that it was a duplication of the LEID, “so we have now moved to strengthen that LEID, both in terms of training and staff, and to have a major presence in that area.”
Speaking on gold smuggling, Minister Jordan related that over time, if one were to do an assessment or take a careful observation of this sector, the findings would state the obvious.
“You don’t have to be a wizard to know that if certain amounts of fuel are being used, somebody has to be a really rich person to be continuously in gold…using all that fuel, and you still not coming up with anything, you don’t have to be genius to know there are different ways in determining whether something is being smuggled or not.”
The Minister would be referring to troubling reports that gold declaration has fallen but indications are that smuggling to especially Suriname is high.
There have been growing complaints over the seemingly large number of tax evaders.
It has been reported that businesses have under-reported revenues and sales to lessen their taxes.
With GRA complaining about not enough Inspectors, there have been criticisms that small taxpayers were left to pick up the slack.
It is believed that billions of dollars is lost annually by GRA because of smuggling.
The Finance Minister is of the view that the GRA, together with other agencies, “whether it’s the police, the Guyana Gold Board, the Guyana Geology and Mines Commission (GGMC)- they have to have an Inter-Ministry Committee that will deal definitely with the issue of smuggling, particularly with gold.”
Meanwhile, on the issue of Forestry, the Minister explained that there is a significant loss of revenue, “because it seems as if we do not have the kind of Inspectorate to determine whether operators in those sectors are actually felling trees in accordance with the agreement, and that they are paying their royalties.”
While the Minister stated that he does not want to label anyone as corrupt, he believes that the systems are porous, when it comes to getting fair rewards for the country for the diminution of its natural resource base, specifically in the gold and forestry areas.

Banam made Indians, especially Berbicians, millionaires. Perhaps Harmon and co will do likewise.