GRA sees drastic drop in filing of VAT

  • Published on: Oct 22, 2021 - 12:24 PM
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GRA sees drastic drop in filing of VAT The Guyana Revenue Authority (GRA) said it has noted with concern, a drastic reduction in filing of VAT returns by VAT Registrants over the previous quarter (July to September) of 2021. In the recently released, Mid Year Report it was disclosed that VAT increased by $1.2 billion to $27.4 billion, when compared with the same period in 2020. “Registrants are reminded of Section 82 (1) (a) & (b) of the Value Added Tax Act, Chapter 81:05 which states, as follows:  “A person who fails to lodge a return within the time required under this Act is liable for a penalty, which is the greater of …
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