Three Asian loggers benefited from the waiver of $325M in 2006

Three Asian loggers benefited from the waiver of $325M in 2006
Kaieteur News, 13 September 2007
Dear Editor,

The list of beneficiaries of “Revenue Remissions” granted by the
Government of Guyana in 2006, which was published in the Kaieteur News
on 9/9/07, makes for interesting reading.

The Guyana Revenue Authority (GRA) waived G$379 million in taxes due by
11 timber companies in 2007. Of that total, three Asian loggers
benefited from the waiver of G$325 million or 86 % of all waivers.

Through your newspaper I would like to ask the following questions of
Go-Invest, GRA and the Ministry of Finance:

What total investment in Guyana in that calendar year was shown in the
audited accounts of the Asian recipients? How much of that investment
was brought in from outside the country? And, what profits, capital
sums or payments for management charges from the expatriate owners were
exported outside Guyana in the same period of time?

Now that Guyana has waived G$325 million to these Asian loggers, what
taxes did they pay over the same period?

How many Guyanese registered on the NIS roll did these three Asian
loggers employ during 2007?

One of the loggers, Jaling, obtained a waiver of approximately G$18
million in 2007. This is the same company that sold a 51 per cent
equity interest in our forests to Seapower Resources International
Limited for a consideration of HK$154 million (US$19.8 million). Like
selling the Brooklyn Bridge .

Did the GRA request a refund from Jaling of G$18 million after it read
about that company's illegal transactions in the same period?

Mahadeo Kowlessar