Guyana’s Tax Agency to Begin Dispute Resolution with Exxon over Expenses….

Georgetown, Guyana – The Guyana Revenue Authority (GRA) has announced that it will begin dispute resolution proceedings with ExxonMobil over expenses related to the company’s oil operations in the country.

According to the GRA, the dispute centers on ExxonMobil’s claims for expenses incurred during the exploration and production of oil in Guyana’s Stabroek Block.

The GRA has indicated that it disagrees with ExxonMobil’s assessment of the expenses and has notified the company of its intention to pursue dispute resolution.

“The GRA is committed to ensuring that all taxpayers, including ExxonMobil, comply with the tax laws of Guyana,” said a spokesperson for the agency. “We will vigorously pursue dispute resolution to ensure that the correct amount of taxes is paid.”

ExxonMobil has acknowledged receipt of the GRA’s notice and has indicated that it will cooperate fully with the dispute resolution process.

“We are committed to operating in compliance with the laws and regulations of Guyana,” said a spokesperson for ExxonMobil. “We look forward to working with the GRA to resolve this matter.”

The dispute resolution process is expected to take several months, during which time the GRA and ExxonMobil will engage in negotiations and potentially seek mediation or arbitration.

The outcome of the dispute resolution process will have significant implications for Guyana’s oil sector and the country’s economy as a whole.

ExxonMobil’s operations in Guyana have been a major driver of economic growth and development in the country, but the company’s tax obligations have been a subject of controversy and debate.

The GRA’s decision to pursue dispute resolution with ExxonMobil is seen as a significant step towards ensuring that the company complies with Guyana’s tax laws and pays its fair share of taxes.