Private Sector urged to take tax paying responsibility seriously

Private sector businesses in Guyana have been urged by the President to take their tax paying responsibilities seriously.

Delivering the feature address at the Georgetown Chamber of Commerce and Industry (GCCI) Business Development Forum on Friday, the President said while the Government has been working to create a suitable business climate for private sector business by providing concessions and tax reductions, some members of the business community have been dodging the tax man.

“Why don’t you address the issue of compliance because if everybody pay their fair share of taxes then you will have greater compliance and then we can talk about reduction too. Why the private sector must not take on the battle of tax compliance? We can’t have lopsided responsibility,” the President said.

He also noted that the time has come for all sectors to take on their responsibilities if the country is to progress. The President said there is only so much the government can do, but the private must also do its bit. He charged that there be more action and less talking.

“We have to change the way we think and act and behave, we have to get real in finding solutions. Organizations and Associations can’t get away under the umbrella of being an organization. We have to hold everybody accountable, the government, the private, and the business,” the President said.

President Ali told the business forum that there needs to be greater partnership in the country’s business sector.

He said there must be a shift from family businesses to an arrangement of consortiums, which would be necessary not only for the growth and development of businesses, but also for the streamlining of a healthy business climate.