No amnesty for Guyana Stores over $3.8b debt – Statia

Guyana Stores Limited

After having been given an extension of time to pay, Guyana Stores Limited (GSL) is likely to find itself on the hook for more than the $3.8 billion liability to the Guyana Revenue Authority (GRA) that a Caribbean Court of Justice (CCJ) ruling cleared the way for.

“There will no amnesty for this particular taxpayer,” Commissioner-General Godfrey Statia said in response to questions from Stabroek News at a press conference yesterday.

Statia explained that while in 2012 the company owed GRA $3.8 billion dollars it has not filed tax returns since that time and is therefore liable for a greater sum than up to the point that the  CCJ ruled. The authority, he explained is prepared to accept a minimum payment of $300 million in the first instance.