Witholding Tax Explained
Witholding Tax Online Submission Guide
Introduction
The Guyana Revenue Authority (GRA) has upgraded its Tax Administration Software and ‘eServices’ platform, which now offers a facility to upload and manage your submissions online. The information below, serves to guide you on how to create the electronic file for upload to ‘eServices.’
What is Withholding Tax?
Withholding Tax is income tax withheld from employees’ wages and paid directly to the Government, by the employer. A tax levied on income (interest and dividends) from securities owned by a non- resident. The amount withheld is a credit against the income taxes the employee must pay during the year. Tax is deducted not only from dividends but from other income paid to non-residents of a country.
Who needs to submit this Return?
- Any tenant, agent of a landlord (power of attorney, property manager, bank, trust, etc.) who collects rents on behalf on a non-resident landlord.
- Any person who rents tangible and intangible assets for use in Guyana from a person not resident in Guyana.
- Any person who is a franchise holder.
- Any person required to make payments as management charges to a non-resident person.
- Any person who makes payment for technical and professional services to a non-resident person.
- Any financial institution authorized to pay interest on any interest-bearing account.
- Any office or agency of a non-resident company deemed to have remitted its profits to the parent company
- Any person who makes a distribution to a non-resident as defined by Section 38 of the Income Tax Act Chapter 81:01
- Any person who pays
- Any interest on any debt, mortgage or other securities
- Premiums (other than premiums paid to insurance companies and contribution to pension funds and schemes) commissions, fees and licences
- Discounts annuities and other annual and periodic payments
- Any person who makes a payment in excess of $500,000 either directly or indirectly to a contractor for the supply of labour or hiring of equipment.
- Any person that makes a payment to a non-resident company
- Any individual involved in Gold or Diamond mining
- Those involved in Gold mining are required to make the requisite declarations to the Gold Board
- Those involved in Diamond mining are required to make the requisite declarations to the Guyana Geology and Mines Commission
When and Where does this return need to be submitted?
This monthly return is due on or before the 14th of each month, and should be filed online.
Submitting your Return
For entities submitting the electronic data, the submission process will be as follows:
- The entity will prepare the data in the prescribed format and upload same to GRA’s eServices using their online account or through a tax agent. An entity should only submit one file per month.
- After uploading the file, the system will prompt you for any issues with the file. Please correct and upload again. When all issues are resolved, then you can submit the return.
Important Note:
All entities that collect Withholding Tax (WHT) are now required to submit to the GRA the Withholding Tax Return, electronically. For entities that have in the past electronically submitted their WHT transactions, please note that there are a few changes to the format of the data as per table below.
File Requirements
The electronic file must be provided in a comma separated values (csv) format with a comma used as the separator. Each row must include all fields even if no data is provided.
A row represents the details of a transaction that resulted in WHT over the return period.
The name of the file should follow the pattern:
wht-[Organisation/Individual Name]-[YYYY].csv e.g., wht-RepublicBank-2020.csv
Note: There should be no spaces in the file name.
The tables in the two tabs below explains the new electronic format for the electronic file submission:
Row 2 to n
| Column No. | Name | Description |
| 1 | WHT Type | The type of transaction.
The allowable values are: – Rent – Royalty – Management Fees – Technical/Professional Fees – Bank Interest – Deemed Distribution – Gross Distribution to Non-Residents – Other Payments to Non-Residents – Discount on Treasury Bills – Premium – Contractors – Resident – Contractors – Non-Resident – Gold – Diamond |
| 2 | Filing Frequency | Describes whether this transaction was triggered by a particular event or is a regular/periodic transaction.
The allowable values are: Event Driven, Periodic. |
| 3 | Payment Date | The date of payment that attracted the withholding tax, in the format of YYYY-MM-DD |
| 4 | Reference No. | Your unique reference number that represents this transaction. |
| 5 | TIN | The Taxpayer Identification Number (TIN) of the withholdee. |
| 6 | Name | The full name of the withholdee. For example, the name of the contractor, miner, primary account holder, vendor, etc. |
| 7 | Phone No. | The phone number of the withholdee. Do not include any spaces, dashes or other separator in the number. |
| 8 | Address | The address of the withholdee. |
| 9 | Country | Country of residence of the withholdee. |
| 10 | Gross Income | The gross amount on which tax rate is applied, in Guyanese Dollars (GYD); should exclude VAT.
Do not include any commas or other separators in the number. Do not include cents. |
| 11 | Tax Rate | The tax rate used for this WHT transaction.
Do not include any commas or other separators in the number. Do not include cents. |
| 12 | Tax Paid | The Withholding Tax in Guyanese Dollars (GYD).
Do not include any commas or other separators in the number. Do not include cents. |
| 13 | Nature of Transaction | A collective description of the nature of the transaction. For example, the account type, description of the contract, etc.
Do not include any commas or other separators in the number. Do not include cents. |
| 14 | Quantity – Ozs | If WHT Type is Gold, enter Quantity in Ozs.
Do not include any commas or other separators in the number. |
| 15 | Quantity – Dwts | Specifically for Gold.
Do not include any commas or other separators in the number. |
| 16 | Quantity – Grns | Specifically for Gold.
Do not include any commas or other separators in the number. |
| 17 | Total Price – US | Specifically for Gold. Total price of transaction in USD.
Do not include any commas or other separators in the number. Do not include cents. |
| 18 | Exchange Rate | Specifically for Gold.
Do not include any commas or other separators in the number. Do not include cents. |
| 19 | Payment Method | The method used to pay withholdee.
The allowable values are: Cheque, Cash, Wire/Bank Transfer. |
| 20 | Payment Doc. No. | The unique number of the payment document. For example, the cheque number. |
| 21 | Bank Account Balance | If WHT Type is Bank Interest, enter Account Balance at the end of the year.
Do not include any commas or other separators in the number. Do not include cents. |
Last Row
| Column No. | Name | Description |
| 1 | WHT Type | Leave Blank |
| 2 | Filing Frequency | Leave Blank |
| 3 | Payment Date | Leave Blank |
| 4 | Reference No. | Leave Blank |
| 5 | TIN | The Taxpayer Identification Number (TIN) of the withholder. |
| 6 | Name | The full name of the withholder. |
| 7 | Phone No. | The address of the withholder. |
| 8 | Address | The total number of withholdees in list/submitted. |
| 9 | Country | Month of Income/Year of Income
Enter the month (1-12) followed by a ‘/’ and the year (yyyy). |
| 10 | Gross Income | The total gross amount.
Do not include any commas or other separators in the number. Do not include cents. |
| 11 | Tax Rate | Leave Blank |
| 12 | Tax Paid | The total tax paid.
Do not include any commas or other separators in the number. Do not include cents. |
| 13 | Nature of Transaction | Leave Blank |
| 14 | Quantity – Ozs | Leave Blank |
| 15 | Quantity – Dwts | Leave Blank |
| 16 | Quantity – Grns | Leave Blank |
| 17 | Total Price – US | Leave Blank |
| 18 | Exchange Rate | Leave Blank |
| 19 | Payment Method | Leave Blank |
| 20 | Payment Doc. No. | Leave Blank |
| 21 | Bank Account Balance | Leave Blank |
