A Judge in the High Court of the Supreme Court of Judicature, on September 30, 2022, refused an Application made by SOL Guyana Inc. for an Order seeking an extension of time to file a Corporate Tax Appeal against the Revenue Authority in relation to several Years of Assessment that were raised and maintained pursuant to the provisions of the Income and Corporation Tax Acts.
The Court ruled that Sol Guyana Inc. failed to satisfy the precondition for a tax appeal as set out by S.98 of the Income Tax Act. The Revenue Authority argued that the company has no right of appeal under section 86 of the said Act and that no extension of time beyond the lapse of the statutory period could be considered where there is no right of appeal, among other things.
The court also ruled that ‘the full payment of disputed taxes or the lodging of a bond or a guarantee to the satisfaction of the Commissioner-General is a precondition before the right of appeal against an assessment under the Income Tax Act can be exercised.’ And further that Sol’s failure to secure and place a bond before the Commissioner-General for him to determine whether or not it is to his satisfaction pursuant to S.98, at the time they requested one to be lodged has frustrated the Company’s right of Appeal in the circumstances.
In a separate action against SOL Guyana Inc., the Revenue Authority also obtained judgment against the Company for Corporation Tax owed, in the sum of two billion seven hundred and thirteen million two hundred and twelve thousand two hundred and fifty-one dollars ($2,713,212,251.00) together with penalties and interest until the date of payment.