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Khurshid Sattaur
Commissioner General
Mission Statement
Our mission is to promote compliance with Guyana’s Tax, Trade and Border Laws and Regulations through education, quality service and responsible enforcement, thereby contributing to the economic and social well being of the people of Guyana. |
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Nadia De Abreu
Director - Corporate Communications Unit
Tel: (592) 227-3680
ext 222 |
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CET waiver only applicable to SPL and Pomeroon Oil Mills
Recently CARICOM heads met and decided on a few items for which the Common External Tariff will be removed in an effort to reduce the effect of high prices facing consumers in the Caribbean as a result on increase prices on the world market. However no consideration was given to removal of the CET on edible oil.
According to the Commissioner-General Mr. Khurshid Sattaur oil is a restricted item.
“Normally items used in the manufacturing process, which are not restricted, could be given consideration for the removal of the duty in accordance with the schedule of the Customs Act. However, t most oils are ineligible persons cannot benefit where such items are used in the manufacturing process from the removal of the duties under the schedule,” he said.
This he said is resulting in many businesses having to pay high import prices in addition to the applicable 40 % duty. The Commissioner-General reiterated that there is no VAT on most edible oils.
He said recently, however, two local manufacturing companies made a case to the Council for Trade and Economic Development and were granted permission for the removal of the CET on soya bean oil, because the high price compounded with the duty has been having an impact on its production costs.
According to him COTED informed the GRA of its decision, pointing out that the permission was only granted to the two companies, Sterling Products Limited and Pomeroon Oil Mill for their manufacturing process only and are not for re-sale.
All other importers of soya bean oil will have to pay the 40 % duty the Commissioner-General emphasized. He said that this has caused some concern among other importers and has also led to some amount of smuggling of the commodity from neighbouring Suriname and Brazil.
“The GRA is trying to get on top of it and very soon we will be checking our trade statistics and making some comparison with the level of consumption in the economy and heighten our enforcement activities,” Mr. Sattaur said.
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