The Guyana Association of Bankers Inc (GABI) today strongly objected to a claim by the Guyana Revenue Authority (GRA) that its members owe $4b in taxes.
In an advertisement in today’s Stabroek News, the GAB cited a February 4th article in this newspaper headlined ‘GRA commissioner says local banking institutions owe $4B in taxes’
GABI said that over the years, its members have made all taxation payments to the government as required by law.
The association added that financial statements are prepared, reviewed and finalised in keeping with international standards and Bank of Guyana regulatory guidelines.
It said that the approach currently employed by the banks has always been accepted by the relevant authority and this has been confirmed by the GRA.
“In light of recent developments, GABI has engaged experienced, legal and accounting minds to pursue this matter to the fullest extent on its behalf. GABI has been advised that members have met their tax obligations and is confident that its position is robust and indisputable”, the advertisement said.