KSM sues GRA over valuation of cement imports, retroactive taxes

GRA Headquarters, Camp Street, Georgetown

Concrete products manufacturer KSM investments Incorporated has moved to the High Court to fight what it says is a decision by the Guyana Revenue Authority (GRA) to overestimate the value of its cement imports without any explanation and demand higher duties and taxes as a result.

KSM is seeking from the courts, among other things, an order or writ of certiorari quashing the decision of GRA’s Deputy Commissioner, Customs Excise and Trade Administration, Patrick Hyman, demanding payment of short levied customs duty and taxes from it in the sum of $16,626,814 in respect of five shipments of cement imported during the period January to March of this year.

KSM is calling the demand by the GRA “unlawful, unconstitutional, in breach of and contrary to the Customs Act and other relevant laws, in breach of and contrary to the legitimate expectation of the applicant, unreasonable, arbitrary, capricious, made in bad faith and based upon irrelevant and improper considerations.”….

Around the Web