Guyana calls on drinks giant to pay taxes on under-invoicing

Guyana’s manufacturing sector has appealed to its government to re-examine whether it should pay a multi-million dollar tax refund due to Suriname-based Rudisa International.

The manufacturers say the Surinamese drinks, automotive and fast moving consumer goods giant may owe Guyana more than that in taxes after its representatives admitted in court to under-invoicing.

Manufacturers’ recommendation

In a statement, the Guyana Manufacturing & Services Association (GMSA) strongly recommended government to re-examine its decision to accede to the demands by Rudisa to refund a $6.22 million environmental tax overpaid.

Rudisa had taken Guyana to the Caribbean Court of Justice and the court awarded $7.72 million to the company, but the beverage company agreed to accept $1.5 million less after its principals met with Guyanan President David Granger.

Video evidence

The GMSA’s directors and some members viewed the entire video recording of the court proceedings.

They reportedly watched a video recording of a cross examination of the chief financial officer of Rudisa, who apparently admitted that the company has consistently under-invoiced their beverage exports to Guyana.

The Rudisa executive however claimed ignorance that this action was an infringement of Guyanan law.

Categories: Trade Based Financial crimes News

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