The Guyana Revenue Authority announced today that it has notified US oil giant, ExxonMobil of its intention to commence audits even as the company gears up for oil production in 2020.
Commissioner General, Godfrey Statia told reporters this afternoon that the audits will not only be expense audits, but they will also include revenue and asset-based audits.
He said the Revenue Authority needs a cadre of capable auditors to conduct the petroleum-based audits and as such, in-house training is set to commence on Monday.
The staffers who will undergo the training will work in the newly established Oil and Gas Unit within the GRA.
The GRA has also put out vacancies for persons from outside the Authority to join the Unit but the Tax Boss said efforts will be taken to first train internal persons.
He said certain technocratic positions which will require persons with experience and knowledge in petroleum audits and account will likely be employed from out GRA.
The GRA also intends to send some of its staff members to Trinidad to gain hands-on experience in petroleum auditing and accounting and has also earmarked training from the British in this regard.