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This is a discussion on Cheap Nike NFL Jerseys yxzkc5gw within the Singapore Jobs - Customer Service forums, part of the Singapore Jobs Market - Jobs in Singapore | Singapore Free Job Posting/Advertisement category; The Guyana Revenue Authority (GRA) is urging Value Added Tax (VAT) registrants andbusinesses to make an ardent effort to maintain ...


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Old 13-06-2018, 05:48 PM
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The Guyana Revenue Authority (GRA) is urging Value Added Tax (VAT) registrants andbusinesses to make an ardent effort to maintain proper books and records, and to be more honest when transacting business.According to a statement from the authority,
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, some VAT Registrants are engaged in dishonest business practices such as having dual books, reflected by them offering consumers VAT inclusive prices with bills or VAT-free prices without bills.The Authority is however reminding consumers that if they choose ?VAT-free prices? they are allowing these businesses to get away with greater profits for their personal gain and they are contributing to fraudulent activities, and to businesses being unaccountable for the tax they should pay.Recently, the GRA noted, its staffers were on hand to witness a reckless tax dodging practice when a business failed to issue a receipt. Several of these cases have been reported to the GRA,
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, which it is investigating. After two years of implementation of VAT, consumers continue to complain that some businesses are not issuing invoices (receipts).It was further noted in the statement it is not only a requirement of the VAT law but it also aids in the efficient management of business operations.Commissioner-General Khurshid Sattaur said some persons continue to submit flawed VAT returns due to improper record-keeping. He noted that accurate record-keeping by businesses will not only aid in the GRA effectively administering VAT, but other taxes as well.After two years of implementation of VAT, consumers continue to complain that some businesses are not issuing invoices (receipts).The statement further urged that consumers should note that were anything to go wrong with the item, they would have no redress if they did not have a receipt, since they would have no proof that the item was bought in the first place.Sattaur noted that when consumers do not collect a receipt,
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, or accept a receipt without a duplicate, they are condoning fraudulent acts. The GRA issued an appeal to consumers to assist the entity by demanding proper receipts,
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, by forcing businesses to keep proper records and by ensuring that the correct amount of VAT is paid to Government and not result in higher profits to some businesses.The GRA,
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, it was stressed,
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, is empowered under the VAT law to carry out examination of returns with the underlying records of the businesses if found to have discrepancies. The GRA can also choose to estimate an amount of VAT payable by the examination of these returns.

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