The Guyana Revenue Authority (GRA) has dispatched what appears to be a demand letter to SOL Guyana Inc (Sol) directing that more than $3.3 billion in Excise Taxes and interest be paid immediately following a probe into tax exemptions on fuel imports.

The monies, according to GRA derive from Sol’s alleged misuse of the Permits for Immediate Delivery (PID) system by commingling tax-exempted fuel with fuel not exempted or partially exempted so as to avoid paying taxes owed on the required basis. Specifically they relate to the alleged misuse of Tax Exemption letters issued to Esso Exploration and Production Guyana Limited (EEPGL), the ExxonMobil subsidiary operating in Guyana.Fuel tax probe: GRA says Sol must pay $3.3b

“SOL Guyana Inc. utilized EEPGL’s tax exemption letters to import and enter quantities of Gasoil…at a lower rate of Excise Tax, and failed to deliver the full amounts to [EEPGL] as required…This act in itself is a flagrant disregard of the laws administered and the Revenue Authority will not condone and allow the government revenues to be used as ‘turn overs’ or in any such manner,” the letter dated March 9 maintains.

The monies, according to GRA derive from Sol’s alleged misuse of the Permits for Immediate Delivery (PID) system by commingling tax-exempted fuel with fuel not exempted or partially exempted so as to avoid paying taxes owed on the required basis. Specifically they relate to the alleged misuse of Tax Exemption letters issued to Esso Exploration and Production Guyana Limited (EEPGL), the ExxonMobil subsidiary operating in Guyana.

Read more www.stabroeknews.com

RELATED ALERT  U.S. oil majors feel heat as climate divide widens with European competitors