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Information on amendments to the Tax Laws

The Guyana Revenue Authority (GRA) being aware of some confusion in the public domain surrounding the tax measures outlined in the 2020 National Budget and their effective dates of implementation, would like to provide guidance regarding the said measures signed…

LOCAL SUPPLIERS TO EXXON AND ITS SUB-CONTRACTORS

The GRA again wishes to advise Local Suppliers that Article 21.1 of the Petroleum Agreement between THE GOVERNMENT OF THE CO-OPERATIVE REPUBLIC OF GUYANA AND ESSO EXPLORATION AND PRODUCTION GUYANA LIMITED ….., ET AL, states as follows: “The Contractor,  and…

Removal of VAT on Capital Machinery & Equipment

 Value Added Tax (VAT) on capital machinery and equipment used in the following industries below have been Zero-rated. This measure took effect in accordance with the amendment to reflect the insertion of paragraph 9 to Schedule 1 of the Value-Added…

Removal of VAT on Electricity and Water

With effect from April 1, 2020, water and electricity consumed by residences or businesses are zero rated. With the amendment to paragraph 7 of the Value Added Tax Act Schedule 1: “The following services are zero-rated for the purposes of Section…

Input VAT on Exports

Exporters of goods and services are hereby notified that effective October 1, 2020 there will be no imposition of Value Added Tax (VAT) on exports. Sections 18 (1) and (2) of the Value-Added Tax (Amendment) Act of 2020 states: “18. (1)…

Exemption of VAT on Medical Supplies

With effect from October 1, 2020 the supply of over the counter drugs, vitamins, minerals and tonics will no longer attract Value Added Tax (VAT). This measure is in accordance with amendment to Schedule 1 of the Value Added Tax…

Removal of VAT on Hinterland Travel

With effect from October 1, 2020, there will be no Value Added Tax (VAT) on supplies of travel and transportation to hinterland communities. This measure accords with the amendment to reflect the insertion of paragraph 12 to Schedule 1 of…
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