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News KSM takes legal action against Guyana Revenue Authority over valuation of cement imports

KSM takes legal action against Guyana Revenue Authority over valuation of cement imports

Written by Global Cement staff
12 June 2019
  • Print

Guyana: Concrete manufacturer KSM is taking legal action against the Guyana Revenue Authority (GRA) for over valuing the cost of cement imports. It alleges that the GRA charged it US$16.6m too much for five shipments between January and March 2019, according to the Stabroek News newspaper.

It grew its imports from 2015 to 2018 and it imported 24,480t of cement from Domicem in the Dominican Republic in 2018. However, KSM says that the GRA increased the declared value of cement by over 40% in the second half of 2018 without offering any ‘reasonable or justifiable grounds’ for so doing. KSM says it imported its shipments in 2019 at the lower rate and this was approved by customs. The GRA then demanded the shortfall from KSM in May 2019.

Last modified on 12 June 2019
Published in Global Cement News
Tagged under
  • Guyana
  • Dominican Republic
  • KSM
  • Legal
  • Guyana Revenue Authority
  • Tax
  • Import
  • GCW409

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