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…same expected for Income Tax returns The relationship between taxpayers and the tax collection body, the Guyana Revenue Authority (GRA) isGRA Chairman,Rawle Lucasnot as strong as it ought to be. And while a number of reasons are responsible for this,Wholesale Jerseys China, GRA’s new Chairman,Authentic Jerseys Cheap, Rawle Lucas says that a number of measures are in the pipeline to bring a heightened sense of confidence between the taxpayers and the revenue collection body.Lucas, in an interview with Kaieteur News recently,Cheap Jerseys From China, said that one of the issues he intends to address vigorously is the system of VAT refunds and Income Tax returns.The GRA Chairman said that based on his analysis of the entity thus far, taxpayers have the view that GRA no longer pays VAT refunds.“We are trying to deal with that. We want to make sure that taxpayers understand the role of the GRA and they have an appreciation for what we do.  There are too many things that have distorted the relationship between the taxpayers and the GRA. This is in relation to a number of issues,NFL Jerseys From China, but I would like to point out the issues with Income Tax return and VAT refunds.”“Since taking over the leadership of the board, I have noticed that the staff has expressed a tremendous willingness to deal with these issues and we are anticipating in the near future, in less and two three months, that there will be a vast improvement in the VAT refunds.”Lucas noted that the law provides for this and the institution shall follow suit.According to Section 35 (1) of the Value Added Tax Act, it states that where the total amount of the input tax creditable by a taxable person under section 24 for a period exceeds the person’s output tax for that period; or the amount of tax paid by a person was in excess of the amount properly charged to tax under this Act, the amount of the excess shall be treated in the manner of a refund.Section 35 of the Act further outlines that if any of the excess for a tax period remains after being carried forward and used as input tax creditable in six consecutive tax periods, a taxpayer can file with the Commissioner to claim the refund as provided in Section 35 (3). That section of the Act says, “If any,Wholesale NFL Jerseys, of the excess referred to in subsection (1) (a) for a tax period remains after being carried forward and used as input tax creditable in six consecutive tax periods,Jerseys From China, the taxable person may file with the Commissioner, a claim for refund for the amount remaining in the form and with the documentation specified in regulations.”As for the issue of Income Tax returns, the GRA Chairman said that this will take a little more time as it requires greater improvement in the relationship with the Ministry of Finance.Lucas said, “Dealing with Income Tax return is going to take a little more time. We have to work closer with the Finance Ministry to ensure that the releases are done on time because Income Tax refunds are based on releases coming from that Ministry.”He added, “There are also other issues involved with regard to the Income Tax return. Whenever the employer deducts money and sends that to us that money is placed in an account and is cleared through tax returns being filed. So if you are supposed to pay $30 but paid $40 then you are supposed to be repaid the $10.”“But there are many cases where the Income Tax returns are not filed. When it comes to this matter, the GRA has to take responsibility and we have tried to understand the extent of the problem. There are many cases where the tax returns are not cleared but we are hoping by raising the matter that it raises some awareness.”