Guyana’s customs agency announces regulatory procedures for shorebases

Must Read

OilNOW
OilNOW
OilNOW is an online-based Information and Resource Centre

The Guyana Revenue Authority (GRA) on Wednesday announced a slew of regulatory procedures meant to govern the establishment of shorebases servicing the country’s petroleum sector.

In a public notice, GRA said that back on October 9, 2021, it had published information in the Official Gazette advising of the Floating Production Storage and Offloading (FPSO) facility being deemed a “Private Warehouse and Sufferance Wharf” for Customs purposes.

It said that was a necessary step to provide a conducive framework for “Customs facilitation” along with the monitoring of transactions related to the movement of goods, services, and vessels; coast-wise and internationally in conformity with the existing legislation.

And in keeping with the Gazetted Notice, the GRA announced that the existing Customs Procedures for warehousing shall now be applicable to the establishment of shorebases.

Big ramp up in Guyana offshore activities see Exxon looking to expand shore base services

In line with those regulations, operators are now required to submit the following information to the Commissioner General of GRA, Godfrey Statia:

– A written Application requesting the establishment of a private warehouse / and for consideration to be deemed a Sufferance Wharf.

– An Approved Plan of the mapped Premises, inclusive of Customs Area showing washrooms, storage space for dutiable / non-dutiable goods and office areas.

– Building Certificate or Approval issued by Central Housing and Planning Authority.

– Certification from the Guyana Fire Service.

– Proof of ownership of premises; Copy of Transport; Copy of Title; Copy of Lease or Tenancy Agreement.

– A Copy of Business Registration.

– A statement of the estimated Customs value and general description of goods proposed to be warehoused in the location monthly and over a 12 Month Period. The detailed list of all types of goods (brand, type, size, and packaging) is required for the determination of the Warehousing Product Specification Codes (PSC).

– The name and acceptance of a proposed Guarantor and evidence of Sufficient Security, in the form of a bond in Form C61 of the Customs Regulations, to guarantee the payment of duties applicable to the Warehoused goods.

– A proposal outlining the specific nature of the operations, access to electronic inventory and security arrangements.

– Any other condition/s deemed necessary by the Commissioner-General upon the examination of the facility.

The notice outlined that GRA will “apply the measures of Guyana’s laws” if persons are found to not be in compliance with the regulations.

The rapidly expanding offshore operations in Guyana is seeing the need for more shorebase facilities. Guyana’s Minister of Public Works, Bishop Juan Edghill said in October that the government has given ‘no-objections’ to eight such projects, in addition to expansion works at the Guyana Shore Base Inc. (GYSBI).

- ADVERTISEMENT -
spot_img

Partnered Events

Latest News

Hess facing three lawsuits over disclosures in Chevron deal

(Reuters) - Oil producer Hess (HES.N) on Tuesday said it is currently facing three lawsuits alleging inadequate disclosures over...

More Articles Like This