…3 in custodyAs it continues to crack down on smuggling activities, the Guyana Revenue Authority GRA) has reported that its Law Enforcement and Investigation Division (LEID) last week intercepted a vessel carrying large quantities of foreign chicken and mosquito coils. According to the revenue collection agency, the ship was intercepted during a sting operation on May 2, 2018 while the vessel was in the Atlantic Ocean.Upon discovering hundreds of boxes of foreign chicken and mosquito coils, suspected to be smuggled from Suriname, the GRA said the Captain and two sailors, who were on board the vessel, were apprehended and placed into custody as investigations continue.The tax collection body noted that they were first-time offenders; however, several recent interceptions have implicated repeat offenders. Second-time offenders are liable to pay three times the duties and taxes as a fine. While, third-time offenders may be prosecuted and/or be allowed to pay three times the value of the item as a fine, as compensation in lieu of court proceedings. In many cases, these offences also result in seizure of the goods and confiscation of the vehicles involved.This recent interception comes as GRA’s LEID continues its fight against smuggling. In fact, the Authority disclosed that from January 2018 to date, the Division has been able to recoup hundreds of millions of dollars in Customs Duties, Excise Taxes, Environmental Levy and VAT, in addition to fines, and has confiscated significant quantities of commonly smuggled items including alcohol, foreign chicken and mosquito coils.“The LEID operations exemplifies the GRA’s commitment to deter, disrupt, and prosecute individuals who attempt to import prohibited items, and evade the payment of their fair share of duties and taxes,” the agency asserted.Moreover, the Authority went on to outline that whistleblowers have significantly improved LEID’s performance and the agency’s revenue collection. To this end, the GRA said the general public must be complimented in aiding the Authority’s efforts to stamp out this activity.
Promoted postHave you got what it takes to Start Your Own Business? After another tough Budget was announced in October 2013 – its not all doom and gloom says Michael Coll from The Tax Clinic in Letterkenny.The introduction of the “Start Your Own Business (SYOB) incentive scheme has led to quite a number of queries from unemployed people hoping to become Self – Employed says Mr.Coll.What is the “Start Your Own Business” (SYOB) Scheme:It is an exemption from Income Tax up to a maximum of €40,000 per annum and will be provided for a period of two years, to individuals who set up a qualifying, un-incorporated business, having been unemployed for a period of at least 15 months prior to establishing the business. Michael says that they have had queries from people looking to set up a variety of different businesses from Dog Grooming to I.T. Consultancy.With this in mind Michael has teamed up with Noel O’ Donnell from Noel O’ Donnell Chartered Accountants on the High Road, Letterkenny to provide a free consultation to anybody employed or unemployed looking to enter the world of Self – Employment.The consultation will cover the areas of Business Structure, Tax Registration, Book –Keeping, Vat & Paye issues.To find out more log onto www.thetaxclinic.ie or call into either the High Road Letterkenny or Main Street Killybegs”Letterkenny Office – 074 91 60550 (Noel/Michael)Killybegs Office – 074 97 32055 (Mabel) WHY NOW COULD BE THE PERFECT TIME TO DO THE BUSINESS IN DONEGAL was last modified: November 3rd, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:Noel O’DonnellStart Your Own Business