Banks DIH Limited has filed a $28B lawsuit against the Guyana Revenue Authority (GRA) and the government for what it says is the overpayment in consumption taxes with interest for the period 2001 to 2006, in light of a settlement last year between fellow beverage company DDL and the agency.
At a press conference yesterday, General Secretary of the People’s Progressive Party (PPP), Bharrat Jagdeo said that the case vindicated his opposition to the DDL settlement, which saw the company paying $1.5B last year to settle all claims rather than paying a liability of $5.3B for the same period.
By way of an action filed on December 16, 2016, Banks DIH, represented by attorneys Rex McKay SC, Dr. Claude Denbow, Neil Boston SC and Donna Denbow, is seeking a declaration that it is entitled to $28.457B, which represents repayment of $9,094,107,699 plus interest
