Chief Valuation Officer Charged with Falsifying Property Valuation

The Chief Valuation Officer, Julian Barrington, was charged in court for allegedly assisting in a false property valuation to decrease Capital Gains Tax. The valuation document misrepresented a property, leading to legal action under the Income Tax Act. Barrington pleaded not guilty and was remanded in custody after not posting bail, with the next hearing set for March 26, 2025.

Julian Barrington, the Chief Valuation Officer of the Ministry of Finance, appeared in court on a charge concerning a falsified property valuation. He is accused of aiding an individual in filing a false statement regarding a Certificate of Valuation for a property located at Lot 129, Area “L,” Lusignan, on February 19, 2024. Court proceedings revealed that the submitted document incorrectly represented the property as developed and enclosed, allegedly to minimize Capital Gains Tax responsibilities. However, investigators confirmed that no such improvements had been made to the property.

The prosecution brought the charge under Section 111(1)(b)(i) of the Income Tax Act after the questionable valuation was submitted to the Guyana Revenue Authority. Barrington entered a plea of not guilty to the charges against him. He was initially granted bail set at $40,000 but was subsequently placed in custody after failing to meet bail conditions. The court has scheduled the next proceeding for March 26, 2025.

In summary, Julian Barrington, the Chief Valuation Officer, faces charges for allegedly facilitating a false property valuation to evade higher taxes. The case underscores serious allegations of misconduct within the financial evaluation processes. The upcoming court proceedings will determine Barrington’s fate, as he maintains his innocence amid the legal scrutiny.

Original Source: www.stabroeknews.com