Govt commits to building world-class, technology-driven tax administration – Finance Minister

The Government of Guyana remains committed to building a world-class, effective tax administration that embraces technology and supports strong, sustainable economic growth, according to Finance Minister Dr Ashni Singh.

The Finance Minister made these comments while addressing the opening of the 27th General Assembly and Technical Conference of the Caribbean Organization of Tax Administrators (COTA) in Georgetown on Wednesday at the AC Marriott Hotel, Georgetown.

The conference, which ended on Friday, is being held under the theme “Future-Ready CARICOM Tax Administration – Smart, Data-Driven, and AI-Enabled” and provides an important platform for CARICOM tax administrators to share practical experiences, scalable solutions, and key insights from the ongoing digitalisation efforts across the community.

During his address, Dr Singh highlighted the evolving role of modern technology, artificial intelligence in particular, in modernising revenue administration and public services.

“I want to urge that we take advantage of the opportunity to get ourselves acquainted with cutting-edge thought on how information technology, artificial intelligence in particular, and AI tools can be used to transform tax administrations. And I want to urge that we do so not only in Guyana, but also I want us to do so.”

“I want to urge our brothers and sisters from other CARICOM jurisdictions to consider carefully how these tools can be deployed for more efficient and effective tax administration.”

The Minister further underscored the importance of tax authorities across the region administering the requisite laws efficiently, fairly, and equitably, emphasising their vital role in fostering a healthy and competitive business environment.

“People doing business in our respective jurisdictions, people doing business in Guyana and in the Caribbean, need to know that they have a predictable regime of fiscal laws that will be applied fairly, equitably, and efficiently.”

He added, “Investors coming to our countries expect that they will have a predictable framework and are looking for predictability in the fiscal frameworks in the host countries in which they are operating.”

The Finance Minister emphasised that a revenue administration that delivers world-class efficiency in its services can drive stronger economic growth. In this regard, he noted that the Guyana Government is committed to transforming the Guyana Revenue Authority, GRA, into such an institution.

“We want Guyana; we want a world-class tax administration; that’s what we’re aspiring to. We want to achieve it in the shortest possible time, and that’s a tax administration that enjoys, that administers our laws, like I said, fairly, equitably, and efficiently, optimises our revenue collection, and enjoys a high level of public, investor, corporate, and citizen confidence.”