Stallholders perturbed with VAT-related policies
If you sell a single cigarette you are obligated to issue a bill - GRA
Kaieteur News
January 30, 2007
Stallholders in the Georgetown municipal markets who narrowly exceed the $10M threshold are perturbed at the Guyana Revenue Authority (GRA) policies with regard to the Value Added Tax (VAT).
The problem which was identified involves the issuance of bills for small items. The GRA contend the issue was previously raised and that it is being addressed.
Stallholders were however unable to obtain answers at the recently held VAT training seminar on Thursday last. One stallholder complained that this was not in his best interest to issue bills for very small items, which he is accustomed to selling.
“How much profit I gun make if I give a bill for half-pint channa or cooking oil?”
At the seminar a GRA representative explained, “Even if you sell a cigarette you are obligated to issue a bill for the sale.”
The GRA official pointed out that persons who refuse to comply will be liable to a $15,000 fine if the GRA proves that bills are not issued.
But some stallholders contend that they are not going to issue any bill and take their chances with the courts.
One stallholder said that he sells small quantities of items and if he were to issue bills for everything then the cost of the bills and, if necessary, revenue stamps would severely affect his profit margin, which is already slim.
The general consensus obtained from the stallholders present indicated that since January 1, sales have significantly declined.
One stallholder indicated, “Last year what I made in one day, I now have to take three days to make the same.”
Another stallholder posited that one document to illustrate the sales for the day should be an option.
The highly publicised seminar, which was poorly attended, was aimed at informing stallholders of the logistics involved but, apart from the complaints that could not be answered, stallholders said that they learnt nothing new since the GRA only reiterated what was already available in the brochures.
Today, the Commissioner General of the GRA Khurshid Sattaur will be present at another scheduled seminar aimed at addressing how VAT works, how books and records are to be kept, invoicing, transitional relief, and return filing among other issues.