The Petroleum Commission Bill 2017

The legitimate authority for the collection of all State revenues is the GRA, and no Minister or official should have the discretion to decide what amount of such revenue should be transferred to the Consolidated Fund. If this were to happen, there would be a significant breach of Article 216 of the Constitution.

Last week’s article concluded our examination of the International Monetary Fund (IMF) report entitled “Guyana: A reform Agenda for Petroleum Taxation and Revenue Management”. The key findings were:

(a)          The agreement with ExxonMobil’s subsidiaries is weighted generously in favour of the U.S. oil giant in relation to the rate of royalty, ‘ring-fencing’ of costs, taxation, and profit-sharing;

(b)          There are too many loopholes in the agreement, if not plugged, could result in Guyana losing significant amounts of revenue;….

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The Petroleum Agreement with ExxonMobil:what we need to know

Last week, we highlighted the key provisions of the Petroleum Commission Bill 2017 which has been referred to a Select Committee of the National Assembly for detailed scrutiny.

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The IMF report on petroleum taxation and revenue management (Part III)

Last week, we carried our second article highlighting the key findings and recommendations contained in the International Monetary Fund (IMF) report entitled “Guyana: A reform Agenda for Petroleum Taxation and Revenue Management” dated November 2017.

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The IMF report on petroleum taxation and revenue management (Part II)

Last week, we began to highlight the key findings contained in the IMF report entitled “Guyana: A reform Agenda for Petroleum Taxation and Revenue Manage-ment” dated November 2017.

The IMF report on petroleum taxation and revenue management (Part I)

In last week’s article, we mentioned some of the key findings contained in the IMF report entitled “Guyana: A reform Agenda for Petroleum Taxation and Revenue Management”, dated November 2017.

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The IMF reports on GRA, and petroleum taxation and revenue management

Accountability Watch welcomes last Thursday’s release of the agreement between ExxonMobil’s subsidiaries and the Government of Guyana, notwithstanding that it was not a voluntary act on the latter’s part.

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