City Hall owes GRA taxes since 2016 – CoI hears

Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Related$8.4B owed in taxes to City HallMay 21, 2019In “Business”No tax amnesty for Billions owed by GSL – GRAApril 25, 2018In “Business”Giftland Mall owes $25M in taxes- CoI hearsOctober 3, 2018In “Business” …also failed to disburse pension payments for 19 monthsCity HallThe Guyana Revenue Authority (GRA) has been awaiting payments from the Mayor and City Council (M&CC) for taxes dating back to 2016, while there has also been examination of pension payments to a broker insurance company that has not been paid for the past 19 months.Officials from the GRA submitted their evidences earlier today (Friday), at the Commission of Inquiry (CoI), where Justice Cecil Kennard (retired) continued to probe the matter with support from the legal assistant, Sherwin Benjamin.Deputy Commissioner of Internal Revenue, Ron Simbhu indicated to the Commission that City Hall is guilty of outstanding taxes, which have been owed for 2016 to 2018.While he was unable to divulge the exact amount as part of its agreements with the client, Simbhu positively stated that these payments were not made.Instances of outstanding payments continued throughout the hearing as the Deputy Managing Director of Insurance Brokers Limited, Ewart Adams was called to the stand to testify.It was related that for the past 19 months, the M&CC has not made any monetary payments to the company under the pension plan. It is understood that the Council was required to disburse the monies to the broker after which it would be distributed to the subject insurance company so that the pensioners can uplift their benefits.It is estimated that over $14.5M is unpaid for the pension plan with an additional $9M for the fire and motor insurance payments.  read more