Guyana Properties & Multi Listing Services

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Category: GRA Press Release

This Idea Is Genius - Selfie Quadcopter Conquers Guyana.
10/04/2018 07:00 AM

Selfie Quadcopter Conquers Guyana.

This Guyana Selfie trend is going viral worldwide...

Phone selfies are boring. People aren't doing them anymore and they've become unpopular...

First, there was the standard selfie, then the selfie stick, and now the next evolution of the selfie has arrived!

Nobody knows who did it first, but soon thousands of people in Guyana started uploading incredible selfies from insane angles. They uploaded them to social media and soon EVERYONE wanted to do the same! 

Now, this new type of selfie has taken off - Literally - across the world.

See link below

https://breakthroughtrend.com/lp/quadcopter/drone.php?cep=h_Y4WuNW_EC22xNG5QEJnoZAnOp0Q1DpnezKISAyCdDRY-pin5Eb7_KwVXD_o8stzWnZw2s-cKZXDqZYINmvv2koOzpNdZ58HzdJZUOQhJL_oc2cCI02UlQdeVPGeHzTy4-1X2jxZVyIzIdkgiW9cDWP398QsPhMvjorRAYVrye9QClYLyFPe8A_clY0Ct8pfYcn2WqXNymOVhDSGwKKm5AXewWXckrzU3EWsVduTFRRdkTInloeBmjR3vPABcLcHjRmP5BL04XgPC-E1nBpVo11QusC6AdSkikBlrPVKNfufW1cKe3NTcz8WwjXzWjpfLvNcDrRWKILl9Gb2EV4LwrtjQtTep0UF4j_Hn5LjbgCgqiCjjYl0FDFiK4BzqzPx78TDX_iBdmUJyEUht0Ji_KAwJdZBir2Jkd7kl_-gv6pG3kJ7jpTkyZBgFM-H813Y16KDmLpxVDS6_Cxwt1rjwbsbyIjp5EmBz7SryIg38I&utm_platform=Desktop&utm_title=Selfie%20Quadcopter%20Revolution%20in%20Guyana.%20The%20Idea%20Is%20Genius&utm_thumnail=http://cdn.taboola.com/libtrc/static/thumbnails/596cc91199b4598cab544f5b4eb017b1.jpg&utm_campaign=1407101&utm_medium=msn-defaulthomepage&utm_campaign_item_id=125401182

 

 

 

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Valuation NOT required for land/property Certificate of Compliance
07/20/2018 02:27 PM

Valuation NOT required for land/property Certificate of Compliance

Georgetown, Tuesday, March 27, 2018: The Guyana Revenue Authority (GRA) wishes to announce that with immediate effect, a Valuation is not required when applying for a Certificate of Compliance to transfer land or property by way of sale, gift or tender.This intervention is intended to relieve the procedural strain and burden on the taxpayers. 

However, based on the mandate of the GRA to collect its rightful taxes, and in keeping with the law, Applicants are advised that under Section 7A (3) of the Capital Gains Tax Act, Chapter 81:20, where the Commissioner General being dissatisfied with the amount of consideration stated for the disposal or acquisition of any such property may reject such consideration and substitute therefore the market value of a competent valuer.

GRA wishes to inform the general public that the procedure for obtaining a land/property Certificate of Compliance by way of sale, gift or tender can also be found here.

-END-

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Filing of Property Tax Returns not a requirement for Mortgage Interest Relief approval
07/20/2018 02:22 PM

Georgetown, Friday, April 27, 2018: The Guyana Revenue Authority (GRA) wishes to advise the general public that the filing of Property Tax Returns is no longer a prerequisite when applying for Mortgage Interest Relief (MIR).

The aforementioned exclusion, however, does not preclude property owners (residential or business) from filing and paying property tax at the appropriate rates in accordance with the Property Tax Act. 

Lastly, GRA has been in receipt of information that in some instances, the charges imposed by financial institutions when issuing the statement of annual interest paid on mortgage (Form 4) to eligible taxpayers in many instances exceed the mortgage interest relief granted. The Authority wishes to advise that in accordance with the Income Tax (Mortgage Interest Relief) Regulations 7, the provision of the statement to a taxpayer benefitting from MIR is a statutory requirement from the mortgagee.

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Delay in Release of MovieTowne Containers at Wharf
07/20/2018 02:18 PM

Georgetown, Sunday, June 17, 2018: The Guyana Revenue Authority wishes to respond to an article published in the Kaieteur News on Wednesday, June 13, 2018 captioned “MovieTowne owner decries red tape in US$40M Turkeyen investment”. The article cited major contributing factors which prolonged the postponement of the opening of MovieTowne including that equipment and seating were at the wharves for weeks, awaiting “simple” signatures. This statement by deduction implies that the GRA may have been responsible for tardiness in clearing such equipment.

While legally guided by the rules of confidentiality, the GRA wishes to set the record straight in this instance. The facts are as follows:

  1. Construction of MovieTowne commenced in 2011.
  2. In mid-2017, the principal of MovieTowne first met with the GRA to discuss the issue of concessions, and at that meeting, requested that concessions be backdated to the commencement of construction. The GRA advised that concessions cannot be backdated and should have been applied prior to the commencement of construction.
  3. The GRA also advised the principal that equipment currently being utilised in the construction of MovieTowne, was in breach of the terms of another Investment Development Agreement (IDA), since, based on the said IDA, equipment earmarked for use on another major project was being utilised in the construction of MovieTowne.
  4. Rather than terminating the IDA, and notwithstanding the breach, the GRA agreed to allow both projects to continue, with the understanding that the available remedies under the said IDA will be enforced subsequent to the completion of both projects.
  5. MovieTowne submitted an IDA application to Go-Invest, which was copied to the GRA and was advised in September 2017 by the GRA that only concessions similar to those granted to competitors in the industry will be allowed, and further that additional information was needed inclusive of source of financing before a recommendation can be made to the Honourable Minister of Finance for approval.
  6. MovieTowne’s container arrived at the wharf on October 21, 2017, and without the approval of the IDA, the GRA facilitated MovieTowne to clear its goods with a Prior to Processing (PTP) arrangement on November 19, 2017.
  7. The goods were uplifted on November 28, 2017 demonstrating that there were no delays on GRA’s part.
  8. On December 29, 2017, MovieTowne was granted an IDA consistent with those granted to competitors in the industry which allow for the waiver of Duty and VAT on certain equipment.
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