Natural resources transparency report urges amending of confidentiality laws

-to allow for better recording of extractive revenues

The Guyana Extractive Industries Transparency Initiative (GY-EITI) report has recommended that confidentiality restrictions be amended to enable the comprehensive recording of revenues from the extractive industries.

In its first report issued recently, the GY-EITI urged that government amend Section 23 (1) of the Revenue Authority Act (1996) and Section 4 of the Income Tax Act (1929) to allow for information required for EITI reporting to be disclosed to the Independent Administra-tor. The report was prepared by BDO LLP and submitted to the National Secretariat last month.

Regarding waiving legal confidentiality restrictions, the report observed that in accordance with Section 23 (1) of the Revenue Authority Act (1996), and Section 4 of the Income Tax Act (1929), the Guyana Revenue Authority (GRA) is not allowed to disclose information on individual taxpayers…..

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