Senior Finance Minister Dr. Ashni Singh today met with the incoming members of the Income Tax Board of Review, the Value Added Tax (VAT) Board of Review as well as the Customs Tariff Tribunal at the Ministry of Finance.
These Boards and the Tribunal were appointed in accordance with Section 78 (2) and (3) of the Income Tax Act Cap. 818:01, Section 39 A of the Value Added Tax Act Cap. 81:05 and Section 22 (1) of the Customs Act Cap. 82:01 respectively.
The members of the Income Tax Board of Review and Customs Tribunal will serve for one year while the members of the VAT Board of Review will serve for 2 years.
The Boards of Review and Customs Tariff Tribunal are Boards governed by the Laws of Guyana and deal with specific tax matters for which a taxpayer is objecting. The taxpayer can appeal to these Boards for a review of taxes.
The Income Tax Board of Review (ITBOR) is a board set up under the Ministry of Finance appointed to consider Income Tax Assessment appeals.
Meanwhile, should a taxpayer be dissatisfied or is of the opinion that their Value Added Tax is incorrectly assessed, they can file an objection with the VAT Board of Review (VBOR).
The objection must be lodged with the Commissioner-General in writing within twenty (20) days of receiving their notice of assessment. An extension can be granted to a taxpayer if they are unable to file an objection within 20 days due to any reasonable cause such as not being in the country at the time or due to illness.
In making a decision, the VAT Board of Review may make an order to affirm, reduce, increase, or vary the assessment under appeal or remit the assessment for reconsideration by the Commissioner in accordance with the directions of the VAT Board of Review. Further, a company dissatisfied with the VAT Board of Review’s decision can appeal to the Judge in Chambers, within twenty days of the service of the notice of the decision.
With regard to the Customs Tariff Tribunal, it is a tribunal which adjudicates disputes with respect to the determination of the rates of duties of customs and excise on goods as well as the valuation of goods for the purposes of assessment of such duties based on the Laws of Guyana.
Appointed as Chair of the Income Tax Board of Review was Emily Dodson while its members are Nizam Ali, Kim Kyte, Shaleeza Shaw and Rajaindra Singh. The VAT Board of Review will comprise its Chairman Ronald Burch-Smith, Shawn Gurcharran, John Seeram, and Nizam Ali while the Customs Tariff Tribunal comprises its Chairperson Sharon Roopchand-Edwards, Dorinda Shako, Lancelot Atherley, Ramdeo Kumar, Keoma Griffith, Malisa Nokta, Dowlat Parbhu and Richard Collymore.
