GRA files petition to wind up DIDCO Trading

The Guyana Revenue Authority (GRA) today said it has filed a petition in the High Court to institute winding-up proceedings against

DIDCO Trading Company Limited which it says has failed to honour its financial obligations to the Revenue Authority.

The GRA in a statement said that in November 2009 it took legal action against DIDCO Trading Company Ltd which failed to remit the Pay As You Earn (PAYE) deductions for various periods between 2007 and 2009 and judgment was subsequently granted in favour of the GRA with the Company being given an eight months stay of execution by the Court and another eight months by the GRA to liquidate the liability before levy proceedings were instituted.

The statement said that despite having been granted time by the Court and GRA to liquidate the outstanding liability, the Company failed to honour its financial obligations and this led to the GRA taking further action to pursue winding up.

The statement quoted the Head, Legal Services Division, Hissaun Yasin-Nandlall as saying “the failure of DIDCO Trading Company Ltd to honour its financial obligations has left the GRA with no other choice than to pursue Winding-Up proceedings.” She added in the statement that “apart from the PAYE liabilities, DIDCO has liabilities for Corporation Tax for the years 1993-2010; Property Tax for the years 2007-2011; and Value Added Tax (VAT) for the years 2007-2011 along with other PAYE debts which total in excess of $180 million.

The statement said that Commissioner General, Khurshid Sattaur, maintains the position that the GRA will take legal action against defaulting tax payers to protect and recover the revenue of the State.

The petition has been filed by Ashton Chase, S.C. who acts for the GRA in association with Yasin-Nandlall, Mahendra Satram, Sunil Scarce and Marisa Mittleholzer.

DIDCO had had major plans for chicken production for the local and export market but encountered various problems including a damaging fire several years ago. A large investment had been been made in its chicken farm on the East Bank of Demerara.

 

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