-as worry mounts about tax evasion, non-complianceMinister of Business,David Beckham Jersey, Dominic Gaskin, is calling on business owners in Guyana to get involved in the formalMinister of Business, Dominic Gaskinbusiness process and to comply with the laws of the state.“We are urging businesses to register properly,David Ospina Arsenal Jersey, to file their tax returns,Cameron Brannagan Liverpool Jersey, to get involved in the formal business process,” Minister Gaskin told the Government Information Agency (GINA).The Minister has acknowledged that the administration has not been able in the short term of one year to make all the improvements that are desired in the business sector.However, one of the major problems that were highlighted throughout the year was that of high levels of corruption.“What we have found is that there is a significant informal business sector in Guyana. Most countries tolerate some level of black market or informal business, but I think we have taken it to a new level where the informal business sector is probably as large as, or even larger than the formal business sector. That presents a lot of problems for business development.”The Minister said that registered businesses are at a disadvantage because the unregistered ones “undermine the legitimate businesses which now have to compete with companies that are not paying import duties, which are not paying NIS or making PAYE deductions.”The Minister explained that the issue has to be addressed. “What we would like to see is not necessarily Government going out and beating businesses over the head into compliance. I think we are looking to bring the informal into the formal and some of the initiatives that we are looking at are designed to do just that, to create a situation where companies with track record, with compliance are going to be the companies that benefit from our initiatives,” Minister Gaskin noted.Government is looking to regularize the business environment, urging operations to register and to comply with obligations, like paying taxes.The Minister believes that if strict criteria are adapted and good programmes are developed, there will be some form of regularisation to the existing situation.“I think we will see some interest on their part,Eric Bailly Manchester Jersey, perhaps regularising their operations and conducting business in a more formal way. That’s the kind of result we are looking for.”Additionally, state agencies are tasked with the responsibility of enforcing and implementing the laws that are affecting the growth of Guyana’s economy.“If those laws require that these businesses be investigated and penalised for non-compliance,Petr Cech Arsenal Jersey, then that has to take its course, but we are saying that while there is an opportunity we are urging businesses to register properly,Julian Draxler Germany Jersey, to file their tax returns, to get involved in the formal business process, and stop competing or stop the unfair competition against the legitimate business.”Minister Gaskin has assured that the Ministry of Business remains committed to working with all relevant stakeholders towards creating a more conducive and investment friendly environment.