[{"bbox": [85, 152, 413, 179], "category": "Section-header", "text": "## Domestic Revenue Mobilisation"}, {"bbox": [85, 210, 1145, 356], "category": "Text", "text": "The Guyana Revenue Authority (GRA) has successfully completed all its activities outlined in the PFM Action Plan. It continued to intensify its efforts to garner revenue from various taxes, mainly through: (i) increased regional presence and the expansion of taxpayer base; (ii) the full activation of the Automated System for Customs Data (ASYCUDA) for the Customs Department; and (iii) institutional strengthening of the Enforcement Department via training initiatives."}, {"bbox": [85, 383, 1145, 587], "category": "Text", "text": "The results of the last Tax Administration Diagnostic Assessment Tool (TADAT) conducted in 2017 by the IMF identified a number of weaknesses at the tax assessment and collection agency. These include absence of segment-based management of taxpayers; limitations of the IT system; limited e-transaction systems; absence of strategic and structured risk management approach; absence of centralised audit case selection process; absence of legislated tax ruling system; limitation in scope and content of compliance improvement programme; and weak filing and payment compliance. Some of these weaknesses have been already addressed."}, {"bbox": [85, 615, 652, 644], "category": "Section-header", "text": "## Oil and gas sector: Revenue administration management"}, {"bbox": [85, 673, 1145, 820], "category": "Text", "text": "The IMF Fiscal Affairs Department (FAD) supports GRA in developing capacity to administer revenue from oil and gas. The project helped GRA with: (i) setting-up petroleum revenue units within the Large Taxpayer Department (LTD) and Customs; (ii) building capacity among GRA staff on oil and gas accounting, cost recovery audits, and other tax-related matters for the oil and gas sector, including subcontractors; and (iii) developing a risk-based compliance strategy for the oil and gas sector."}, {"bbox": [85, 847, 1145, 1002], "category": "Text", "text": "IMF reports that Guyana has recently strengthened the AML/CFT framework and recommends further advances in this area. Guyana has been removed from the Caribbean Financial Action Task Force (CFATF) and the European Commission's Money-Laundering Blacklists. Similarly, the National Risk Assessment is completed, and the BoG is working on its recommendations with the requested support from the Caribbean Regional Technical Assistance Center (CARTAC)."}, {"bbox": [85, 1032, 1145, 1233], "category": "Text", "text": "IMF also commend the authorities' good progress in strengthening Guyana's anti-corruption framework and fiscal transparency and supports further advances. Several pillars of the anticorruption framework have been recently strengthened, including the Integrity and Public Procurement Commissions (IC and PPC) and the National Procurement and Tender Administration Board (NPTAB). Audit reports of public expenditures, including for COVID, are published, and their recommendations are followed up on. Asset declarations of a large number of public officials are submitted annually, and public procurement tenders are streamed live."}, {"bbox": [85, 1264, 1145, 1324], "category": "Text", "text": "**In conclusion, the public finance management reform strategy is sufficiently relevant and credible, including on domestic revenue mobilisation, and the eligibility criterion is met.**"}, {"bbox": [85, 1351, 588, 1382], "category": "Section-header", "text": "### 2.3.4 Transparency and Oversight of the Budget"}, {"bbox": [85, 1411, 1145, 1501], "category": "Text", "text": "After one year and a half of the new administration in office and with the resumption of sittings of the National Assembly in September of 2020, the country counts with a functioning Legislature that, among other things, is relevant for the criteria of transparency and oversight of the budget."}, {"bbox": [85, 1528, 1145, 1645], "category": "Text", "text": "The entry point for assessing budget transparency and oversight is met, as the 2022 National Budget was presented to the Assembly in January 2022 and was approved in February 2022. The approved 2022 national budget for Guyana (Guy $552.9 Billion) is 44.3% larger than the 2021 budget and will include the first withdrawals (in the amount of Guy $126.7 billion) to be made from the Natural Resources Fund Act."}, {"bbox": [1027, 1680, 1145, 1706], "category": "Page-footer", "text": "Page 11 of 27"}]