GEORGETOWN, Guyana, CMC—The Guyana Revenue Authority (GRA) has accused ExxonMobil Guyana and RAMPS Logistics Guyana Limited of making false declarations for more than US$12 million worth of oil-healthy equipment and supplies.
GRA Commissioner-General Godfrey Statia has taken a firm stance, charging ExxonMobil with making a false declaration to the Revenue Authority. This action is in direct violation of the Customs Act, carrying significant legal implications for the company.
The GRA claims that on November 16, 2023, ExxonMobil and RAMPS made and subscribed to a false declaration to the Revenue Authority, causing the value declared on an invoice for a quantity of oil well equipment and supplies to be USD$12,192,103,923.91.
Last month, ExxonMobil informed GRA that the currency should have been in the Guyana currency, but there was a typographical error. The company told GRA that it did not lose any revenue from the transaction.
However , Vice President Bharrat Jagdeo, speaking at his weekly news conference on Thursday, expressed a different view. He argued that the false declaration could have serious financial implications, affecting the cost bank in the cost-oil/ profit oil agreement and potentially increasing the government’s tax liabilities.
Jagdeo said he wanted the GRA to review all previously submitted invoices by ExxonMobil to ascertain whether there were similar discrepancies.
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