Question 18162 — overseas

Summary

Mr. Gabriel Serville alerts the Minister of Action and Public Accounts to the disastrous consequences of the restrictive interpretation of the tax law for the services of the Regional Directorate of Public Finances (DRFIP) of Guyana on the local agricultural sector. Indeed, tax legislation allows Guyanese farmers to benefit from essential financing to guarantee the development of their activity by investing in the purchase of agricultural equipment, for carrying out work on primary access roads, drainage channels and planting. Thus, the various tax incentive schemes for agricultural investment in Guyana, whether it is the “Girardin scheme” or the productive overseas tax credit, have enabled the financing of 100 million euros for more than 500 farmers. Without these investments, the agricultural sector of Guyana, the only territory in the Republic to see its useful agricultural area increase, would simply not be able to face the challenge represented by the objective of food independence in a territory which is experiencing at the same time an exponential growth in its population. However, many farmers today encounter serious difficulties, which threaten the very existence of their activity due to the interpretation restrictive of tax incentive schemes for overseas investment made by the DRFIP services. It would appear that the latter has notified numerous farmers and investors of recovery proposals which call into question operations financed under the agricultural tax exemption of the "Girardin law" and the productive overseas tax credit, particularly with regard to drainage and construction works. planting. However, contrary to what the DRFIP of Guyana states, the tax legislation clearly states that the work involved is depreciable investments and therefore eligible for tax exemption and tax credit schemes, as recalled by the Ministry of Finance and Public Accounts in its response published in the Official Journal on September 20, 2016 to written question no. 91464 from Ms. Chantal Berthelot and serving as a tax ruling. These recurring differences in interpretation are seriously detrimental for Guyanese farmers, some of whom find themselves today in situations of deep despair, and more generally for the development of the Guyanese economy. Also, he requests clarification regarding the application of tax legislation in terms of encouraging agricultural investment in Guyana.

Machine translation from French. The official text remains authoritative.

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