The Guyana Revenue Authority wishes to remind the general public of the requirements when applying for a Tax Practice Certificate.
What is a Tax Practice Certificate?
It is a document issued by the GRA under Section 39 of the Tax Act Chapter 80:01 to Professionals practising privately for reward in any year, and are required by law to be the holder of a Practice Certificate.
Who should apply for a Tax Practice Certificate?
The first Schedule of the Tax Act stipulates that the following professionals must apply for a Tax Practice Certificate:
- Accountants
- Auditors
- Legal Practitioners
- Medical Practitioners
- Architects
- Dentists
- Optometrists
- Engineers
- Veterinary Surgeons
- Physiotherapists
- Pharmacists
- Surveyors
- Preparer of Returns
How to apply for a Tax Practice Certificate?
- First time applicants must write the Commissioner General requesting a tax practice certificate. The letter must include:
- Copies of professional qualifications,
- Outline of experience in particular field;
- In the case of medical practitioners, a letter from the Medical Council.
- Completed application form
- Valid form of identification
- Preparers of Returns must pass a competency test which will be administered by the GRA.
Cost and validity of a Tax Practice Certificate
- First Time fee is $25,000.
- Annual fee is $10,000 (general), for Surveyors it is $75,000 and $20,000 for Preparer of Returns.
- A Tax Practice Certificate is valid for one year commencing January 1 and ending December 31.
- The annual fee must be paid on or before the 28th February of each year.