Sattaur assures registrants…
“I have my faith in VAT… I have my faith in you as well.”
By Melanie Allicock
Kaieteur News
January 31, 2007
“VAT ought not to bring about this kind of misery that has resulted in some sections of the country, since it has been tested in several countries”
This point was underscored by Commissioner General Khurshid Sattaur, yesterday, to VAT registrants at a training session at the Regency Hotel in the city.
“Too often, when we listen to the feedback, we are bombarded with the complaints from consumers …reports in some areas where it has resulted in exorbitant price increases,” Sattaur said, while urging businesses to commit to fully undertake their corporate responsibility.
The GRA head acknowledged that he is aware that some persons may be skeptical, because they are not seeing the benefits touted to be derived from VAT. However, he maintained that he is confident that it will work for Guyana .
“I have my faith in VAT… I have my faith in you as well, that you will help the system to work, which means that you will take the training that you receive seriously; that you will bring to the table issues that are relevant, so that we can all put our heads together in a way that would help VAT,” he told the business population.
He further commended those businesses which have reduced their prices, and some for operating at a ‘break even' position just to maintain their customers.
The Commissioner General urged them to bear up, as efforts continue to ensure there is full public acceptance that the VAT will work. He affirmed that once this is achieved, the administration by businesses would become much easier.
“Once you start experiencing the benefits of the VAT, we will have not only satisfied consumers, but we'll have businesses that are operating more efficiently, that can afford to invest more in the business,” Sattaur said.
He reiterated the GRA's intention of working closely with VAT registrants during this implementation process, while expressing optimism that such engagements will build on the working relationship between the two bodies.
He noted that, “While the GRA is always willing to offer help, assistance and guidance to businesses, we need guidance from you as well, so that we know what issues are affecting you.”
The Commissioner General pleaded with the businesses to use the information they acquire at the workshop in their business operations, and in keeping their obligations under the VAT.
The training targeted VAT registrants seeking clarification in several issues, including books and records to be kept, invoicing , transitional relief ( stock-in-hand relief ) completion of and filing returns, and how VAT works.
Harry Parmessar of Solomon & Parmessar Company, Chartered Accountants, facilitated a working session on accounting for VAT, invoicing, and completing the VAT return.
The GRA held similar sessions last year, and will soon have these replicated in other regions for VAT registrants.