The  Guyana Revenue Authority (GRA) has been conducting tests of the Total Revenue Integrated  Processing System (TRIPS) which is responsible for the calculation of penalties for the late submission of returns.

According to a GRA  release,  the tests include the production of “notification of late filing penalty” in cases where taxpayers have not filed their returns on time based on the information in TRIPS.

However, some of these notices  were dispatched to taxpayers inadvertently.  In the meantime, the GRA is requesting taxpayers who have received these notifications of late filing penalty to review them  and  respond in writing to the Commissioner-General, Guyana Revenue Authority, indicating any inaccuracies or flaws in the notifications.

On the basis of the response received, GRA said it would consider withdrawing the notice and taxpayers would be informed in due course of the action taken after their responses  would have been reviewed.

According to the release, Section 99 (1) of the Income Tax Act, Chapter 81:01 states that “If a taxpayer fails to pay income tax on or before the due date the taxpayer shall be liable to pay a penalty.”

The GRA  is also reminding  taxpayers of their obligations to file and pay their taxes on or before the statutory due date since failure to comply will result in penalties and interest in the future.

Information and assistance regarding filing of returns and payment of taxes can be obtained from GRA’s Help Desk at telephone  227-7927, Ext. 240, the GRA added.