The Guyana Revenue Authority (GRA) should ensure that all taxpayers, who are entitled to refunds, receive their payments in a timely manner without compromising the legitimacy of the verification process, according to Senior Minister in the Office of the President with responsibility for finance, Dr Ashni Singh.
Singh related that quite often taxpayers would complain about the length of time they have to wait before receiving refunds – which they are entitled to.
He pointed out that extended delays in paying tax refunds can have severe adverse effects on the cash flow of businesses and households, which in turn could affect both consumption and investment, and ultimately be a drag on economic activity as a whole.
The Minister emphasised, however, that more timely refunds should not in any way compromise the rigour with which GRA verifies the legitimacy of each refund payable. Instead, Minister Singh stated that the verification and payment processes should be made more efficient to ensure that refunds are both thoroughly verified and promptly paid.
The Minister’s call for more timely processing of tax refunds comes against the backdrop of a broader drive for improved service quality across public sector agencies.
At GRA, the Minister recently addressed senior management of the Authority and directed them to work immediately to improve the quality of their interaction with taxpayers, emphasising the importance of the highest standards of integrity and efficiency across all aspects of their operations.
Due to the COVID-19 pandemic in Guyana, GRA had extended the April deadline for the submission of tax returns. The last deadline was September 20, 2020.
