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| The Guyana Manufacturers and Services Association (GMSA) has expressed some concern over the implications of an amendment to the Customs Bill which was tabled in the National Assembly by Minister of Finance Dr. Ashni Singh on Thursday.The Customs (Amendment) Bill is seeking to amend the section that imposed an Environmental Tax only on taxable goods imported into Guyana.At present the tax is imposed on importers of drinks and beverages into Guyana.The proposed amendment extends the tax to every container, metal, glass or plastic container imported into Guyana for manufacturing beverages.The amendment means that whereas only importers used to have to pay this tax in the past, by virtue of the proposed amendment, the net is being widened to include in-country manufacturers.If the Bill is passed into law, on one hand, it would mean that a tax of $5 on every container,Cheap Jerseys, metal, glass or plastic container holding any drink, alcoholic or non-alcoholic imported into Guyana.Notably and additionally the Bill states that all importers of such containers for manufacturing beverages shall pay the same $5 tax at the same time as the Customs Duties are paid .If they fail to do so they will be fined $5,Wholesale China Jerseys,000 for the offence,NFL Jerseys China Wholesale, in addition to paying to the Commissioner General of the Guyana Revenue Authority (GRA) twice the amount of tax payable.Among those who will be hit with increased costs if the Amended Bill is passed are major local manufacturers Banks DIH and Demerara Distillers Limited (DDL).President of the GMSA,Jerseys NFL Wholesale, Mohindra Chand,NFL Jerseys Authentic Cheap, confirmed yesterday that the Bill is of some concern to the Association since it has economic and social implications.“Costs of production by local manufacturers will go up and this can in turn impact on consumers who may have to pay higher prices for those products,Jerseys NFL Wholesale,” he said.He said that the GMSA at one level appreciates the need for such taxes but will prefer to work with Government to ensure that all the implications for local manufacturers are taken into account.The GMSA has set up a special committee comprising members and environmental experts, to review the proposed Bill.The Committee, Chand said, intends to engage all stakeholders.One of the areas of interest, he added, is to what use the funds obtained from the extended Environmental Tax net, will be put. |
