Cabinet has decided to extend limited tax concessions to persons desirous of importing garbage disposal trucks and consequently the Guyana Revenue Authority (GRA) on Friday announced that individuals or companies wishing to access the concessions must have an investment agreement with the government, a press release from the GRA said.
And in keeping with the decision, GRA has indicated that a number of procedures must be followed before tax exemptions are granted to importers of garbage disposal trucks.
Investors should first consult with the Guyana Office of Invest-ment (GoInvest) and submit a business proposal for consideration, and if the proposal is accepted GoInvest will draft an investment agreement and forward that to the GRA.
The GRA will then peruse the document and send it on to the Minister of Finance once the necessary criteria have been met; and once the investment agreement has been approved the importer will then be required to submit a written application to the Commissioner-General for the concession.
Moreover, the release noted that the following documents must also be submitted to the Tax Exemption Processing and Verification Unit of the GRA: a completed tax exemption form; an invoice/quotation for the garbage disposal trucks; a Taxpayer Identification Number (TIN); and a business registration (where applicable).
GoInvest is the agency which handles investment agreements on behalf of the Government of Guyana, the release added.
Persons who are interested in obtaining more information can contact GoInvest at 190 Camp and Church Streets, Georgetown, or the GRA’s Tax Exemption Processing and Verification Unit at 357 Lamaha and East Streets, Georgetown or they may call them on telephone numbers 227-8542 or 227-8459, the release said.