Prominent Guyanese automotive importer BM Soat Auto Sales and Rentals has issued a firm rebuttal against allegations of vehicle undervaluation practices, asserting its full compliance with national laws and its status as a substantial taxpayer. The company’s statement on Saturday December 27, 2025, came in response to media reports citing unnamed Guyana Revenue Authority (GRA) officials regarding alleged malpractices.
The company expressed concern over what it characterized as unbalanced journalism, noting that recent reports “rely entirely on unnamed sources” and “make broad claims without identifying any individuals.” While not directly addressing whether it has existing court cases with GRA or whether it paid over GY$200 million in due taxes, BM Soat maintained that it “operates within the laws of Guyana and conducts its business with integrity.”
Highlighting its commercial scale, the company revealed it sold more than 1,500 vehicles in 2025 alone, all processed through “established regulatory channels.” BM Soat emphasized its tax contributions, stating it has paid “billions of dollars in taxes and duties over the years,” which it says reflects its “consistent role as a responsible taxpayer.”
The controversy emerges against the backdrop of an ongoing investigation into tax evasion practices within Guyana’s vehicle import sector. Seven GRA officials are currently on GY$500,000 bail each and must report to police on December 29 as part of this probe. According to previous reports, the alleged evasion schemes involved either misclassifying vehicles as electric (which bear no taxes) or underreporting engine capacity to qualify for lower tax rates.
The GRA has indicated plans to expand its investigation to include other vehicle importers, suggesting the current allegations against BM Soat may represent only one aspect of a broader compliance review within Guyana’s automotive import industry.