GRA Boss rules out concerns over access to banking info as “nonsense”

7

 

By Jomo Paul

gra[www.inewsguyana.com] –Commissioner General of the Guyana Revenue Authority (GRA), Khurshid Sattaur has described concerns raised about the Financial Institutions Bill 2015 as “nonsense”, insisting that GRA will be professional in the discharge of its remit.

The Financial Institutions (Amendment) Bill 2015  seeks to amend Section 63 of the Financial Institutions Act to permit disclosure of customer information by a financial institution to the GRA, where a law so requires or where the revenue authority makes a lawful request or demand for the information.

Contacted on Sunday, November 01, Sattaur told iNews that the GRA has had that power from time immemorial

Commissioner General of the Guyana Revenue Authority (GRA), Khurshid Sattaur
Commissioner General of the Guyana Revenue Authority (GRA), Khurshid Sattaur

until it was snatched by then Chief Justice Carl Singh, in a 2002 High Court ruling.

In a notable case, against a GRA officer, Singh had ruled that the GRA is not government but rather an agent of the State – effectively denying access to private banking information.

“Prior to that we always had access I don’t understand this nonsense…Its nothing new…these people are making an issue out of nothing,” said the GRA Boss.

Sattaur noted that GRA is being pitted as a political tool to target some, when in fact, this is not the case.

“These people want to drag the GRA into a political ball game I am not in for that nonsense. We have a professional job to do, it cuts across all sorts of political affiliation,” he emphasized.

He said that when it comes down to it, no single side of the political divide is taxed while the other goes untaxed. Opposition Leader, Bharrat Jagdeo has said that some businessmen are worried that GRA “will be used politically to go after their information and I am very fearful about what this could trigger.”

Opposition Leader Bharrat Jagdeo
Opposition Leader Bharrat Jagdeo

The Opposition Leader noted many of them probably will pull their money out of the system.

“If that happens you will have a large scale movement of resources, switching to US dollars or to be externalized to capital fund. This could cause a run of the banks as well as major problems with our currency and I urge the government to be careful about the signals they’re sending because if that were to ever happen, we will trigger a crisis of unimaginable proportions in this country,” said Jagdeo.

7 COMMENTS

  1. Let’s put it this way, it is easier for the government to get its information from GRA than from the people ‘s tax forms. Then again, LOOK AT THE TRUST THEY SHOW THE INDIANS, when they came into power. Ask the question, which race dominate business and has most accounts in the bank.

  2. Jagdeo is absolutely correct. The current administration is full with DUNCES! Most seem to not understand economics properly. If you are going to go after every businessman in the country, it will collapse the economy because if the money is pulled out, it will leave people without jobs, the country with no money to do business! Naga and Rum jattan were failed politicians from the PPP older days. Hence why Janet said she would never leave Guyana in their hands….so she found an educated person to run the country. Granger seem to be clueless as to what he is doing. Instead of being on the news everyday trying to play the blame game…let your action speak to develop the Guyana economy. So far, the APNU has failed miserably. The USA is sit back having a ball of a time watching the APNU collapse Guyana economy. What it means for them-OIL at a cheaper price!

  3. Did you not have a professional job to do when you were trading information with Bharat and Anil about the major dalies?
    I dont know why you are still there.
    This Government is wasting time with the current CG.
    This man is shameless.

  4. Once people are filling their Property Tax Forms and adhere to the Declaration on it, then all your information is available to GRA. So what is the problem if the Banks are requested to provide your information?

  5. This GRA head should tackle one of the most if not the most corrupt institutions in Guyana. Most businessmen, large or small, at some time or the other have paid a bribe. The big ones pay to the big fish while the smaller ones to the little fish that swarm the different locations where customs officials are based. Falsification of documents or under value goods declared are the most prevalent. Custom officers barefacedly collect money outside of their place of work once goods are cleared. How the big fish operate is difficult to say as this happens behind closed Doors. Some big businessmen even boast on how they could get their goods quickly and cheaply passed through customs. The small man has to join long lines and wait for days to get their goods.

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.