Dear Editor,
Relief of any kind should be expeditiously rendered. In a 2013 move which delighted mortgagers the PPP/C government allowed relief on the interest paid to lending institutions by making it deductible from personal income for taxation purposes. Initially the banks showed opposition, but then began a slow movement to compliance.
But not all the banks are compliant which has the GRA appearing helpless. They say they cannot send out the incentive approval notifications to mortgagers until all the institutions comply. Why can’t the GRA work with what they have in hand and lessen the piles on their desks. Send out the approved notifications and then do battle with non-compliant lending institutions, which are blaming software problems. If the PPP/C is in power they should use that authority to get the people’s business conducted.
These banks should have been given a timetable of compliance with a deadline similar to those given to taxpayers. And when there is a noncompliance they should be dealt with in the same manner as a delinquent taxpayer.
No one seems capable of giving a satisfactory response – not the banks, not GRA. When will the national wheelmen hold firmly the reins of office? Seems almost nothing in Guyana is regulated. You join a line to do business and there is always someone who is ready to break the line and jump ahead of you.
Something should be done for the mortgagers awaiting their relief.
Yours faithfully,
Jorge Bowenforbes
