Opposition Leader, Aubrey Norton along with several members of his party have voiced deep concern over revelations regarding an inflated invoice submitted to the Guyana Revenue Authority (GRA) by Ramps Logistics on behalf of ExxonMobil.
The tax agency said ExxonMobil and Ramps Logistic allegedly made a false declaration in November 2016 regarding a quantity of oil well equipment and supplies listed in an invoice. The invoice was billed at US$12.1 billion, while the equipment was valued at approximately US$4.467 million.
Responding to inquiries about his thoughts on the issue, Norton dismissed Exxon’s explanation of the discrepancy as a mere typographical error, emphasizing the need for the company to properly defend its position. “I don’t believe the company was making that type of typographical error,” Norton asserted.
Elson Low, the opposition’s Economic and Youth Policy Advisor chimed in and elaborated on the financial implications of the inflated costs, estimating the discrepancy to be approximately US $8 million. This he said, underscores the urgent need for robust auditing mechanisms to prevent substantial losses to the Guyanese people.
Furthermore, Low stressed the need for auditors to verify the accuracy and reasonableness of expenditures to prevent financial mismanagement.
President of ExxonMobil, Alistair Routledge told reporters earlier this week that the company remains steadfast in its commitment to ethical practices.
“We have not received any court summons or documents. We are always committed to working ethically, ensuring that all of our submissions, whether for tax purposes or cost recovery, are accurate,” said Routledge.
As discussions surrounding the inflated invoice continue, the opposition said it is evident that greater scrutiny and vigilance are imperative to ensure responsible management of Guyana’s natural resources for the benefit of its citizens.
