Guyana Chronicle, June 25, 2024: His Excellency President Dr. Mohamed Irfaan Ali, 9th. Executive President, comment is very commendable in THEORY and WILL Likely MISS the MARK in PRACTICE.
https://guyanachronicle.com/2024/06/25/caricom-distillers-urged-to-establish-joint-marketing-entity/
“ Guyanese OFF- SHORE privately owned Corporations.”
MAY 20, 2023: 13 Months AGO, shared information in the VILLAGE VOICE, in the hope for ABATEMENTS.
https://villagevoicenews.com/2023/05/20/qatar-off-shore-private-corporations-bank-of-guyana-and-corruption-part-3-of-3/
From my back- channels was informed that some Guyana Corporations Executives have ESTABLISHED PERSONAL PRIVATELY OWNED CORPORATIONS in the Delaware, USA, UK, EU, Dubai, etc., and PRODUCTS from Guyana, are sold at a TRANSFER (under) PRICING, by their MANAGED Guyana Corporation to their PRIVATELY OWNED Corporation TO themselves, families, or associates.
Headquarters’ INVOICES pass through TO these privately owned corporations with high commission fees, and markups, and the customer is billed for the combined amounts.
IF there is NO middle person/off-shore Corporation, many in the Global businesses are of the opinion, that Guyana’s PRODUCTS WILL BE MORE COMPETITIVE with a LOWER pricing with a much HIGHER demand. Guyana is losing with LOWER production, employment, taxes, and economic activities.
IF, the Guyana Government is REALLY SERIOUS, the Guyana Revenue Authority, GRA, should RECRUIT TRAINED and SKILLED Accountants and Auditors, with TRANSFER PRICINGS SKILLS, to audit and determine the EXTENT, of this item, IF TRUE, so as TO BE READY for CARICOM Distillers DUE DILIGENCES towards JOINT MARKETING, which will INVOLVE the PRICES of their SIMILAR PRODUCTS.
USA, The Internal Revenue Code (IRC) is the tax code established by the U.S. Federal Government. Section 936 of the federal tax code, which allowed subsidiaries of U.S. firms operating in Puerto Rico to pay no federal taxes on their Puerto Rican profits, even if those profits were returned to the United States (i.e., to the parent company in the states).
Dr. Shamir served as the Corporate Controller/Chief Accounting Officer/Chief Financial Officer at PORTA SYSTEMS, Syosset, Long Island, NEW YORK, with Electronics Manufacturing Operations for TELEPHONES SWITCHING EQUIPMENT and Porta Systems operated Section 936, with an EXACT Manufacturing Operation of the SAME PRODUCT in SYOSSET and PUERTO RICO.
SAME PRODUCT, being MANUFACTURED. The Major 5 Differences were in DIVISION Management, SUPERVISION, Span of Control, CULTURE and PRODUCTIVITY. Puerto Rico 91% PRODICTIVITY and Syosset, LONG ISLAND, New York with 48% PRODUCTIVITY.
Later Dr. Shamir served as an IRS AGENT, in New York, so knowledge from BOTH SIDES.
The Assurances of My Highest Consideration
Dr. Shamir Andrew Ally
Second Ambassador to KUWAIT, 2016-2020.
Former IRS AGENT, New York
