Dear Editor,
I would like the GRA head Mr. K Sattaur to come clean with TIN, will it result in more taxes being levied on an individual’s savings, or his assets – movable or otherwise? Would it result in more taxation on estates of deceased persons? Or would there be a further taxation of or on transfers of vehicles or properties?
I harbour a fear that there are hidden motives behind TIN, it stems from the experiences of VAT. I was made to understand that VAT replaced the consumption tax and that there would be no increases on consumer commodities. Like the VAT the TIN was introduced at the end of the year and was carefully ventilated to the public. With TIN the GRA was again ill-prepared, there were not enough forms, and even when you submitted your form, you could not get a TIN number there and then. To get past the entrance for a form was a huge problem and to go for the TIN number is no different. Different systems need to be put in place.
I do not intend to launch an attack on the GRA head, but I have observed that he has lost his composure too often and too quickly when explaining VAT and now TIN. Despite all his assurances, VAT has contributed significantly to the rise in the cost of living. He has now admitted that there are unscrupulous businessmen who have increased the prices of goods very steeply. Even before the external forces that are being blamed started to take effect, prices have increased locally. VAT has raked in so much revenues that the President said that he will use it to cushion the effects of the increased GPL bills.
Yours faithfully,
Deen
Editor’s note
Taxpayer Identification Number (TIN) is not itself a Tax and will therefore not directly raise revenue. However, it will provide the Guyana Revenue Authority with more information and more linkages which will enable them to collect more tax from taxpayers who have not been making proper returns.
