The Guyana Revenue Authority finds it necessary to provide guidance to the general public on the taxes it administers in order to promote voluntary compliance. This policy is intended to guide employers and employees regarding their obligation to withhold and remit Tributors’ tax respectively Section 33F (13) of the Income Tax Act, Chapter 81:01 defines [...]
The Guyana Revenue Authority (GRA) recognises the need to provide the general public with essential information regarding the taxes it administers to promote voluntary compliance and aid in a smooth transaction process. This policy is intended to offer guidance and guidelines regarding Mortgage Interest Relief. Section 20A (1) of the Income Tax Act, Chapter 81:01 [...]
The Guyana Revenue Authority recognises the need to provide information and guidance to the general public with regards to the various taxes it administers. As such, this policy seeks to provide guidance on the issuing of a provisional licence for small businesses. It was observed that many small businesses, in their efforts to obtain a [...]
The Guyana Revenue Authority continues to sensitise taxpayers, the general public and other stakeholders on matters pertaining to the various legislations it administers in order to promote voluntary compliance. This policy provides the legislations and procedure to access tax exemptions on raw and packaging materials by manufacturers who are registered with the Guyana Revenue Authority. [...]
The Guyana Revenue Authority (GRA) is continuing its efforts to sensitize the general public on various issues, to ensure compliance. The purpose of this policy is to offer guidance on the Taxpayer Identification Number (TIN). What is Tax Identification? A Taxpayer Identification Number, commonly known as TIN, is a unique computer generated number allocated to [...]
The Guyana Revenue Authority continues to sensitize taxpayers, the general public and other stakeholders on matters pertaining to the various legislation it administers in order to promote voluntary compliance. In this regard, the following information seeks to give clarity on the statutes, rules and procedures which would apply to the application of the 2% resident [...]
Pursuant to Section 2 of the VAT Act, the VAT fraction means the fraction calculated using the formula R/ (1+R); where R is the rate of tax applicable to the taxable sale (14%). The VAT fraction is [14 %/ (1+14%)] which is equal to 7/57. The VAT fraction is used to compute the amount of [...]
The Guyana Revenue Authority continues to provide assistance to the general public on various issues regarding the application of the Value- Added Tax (VAT). This policy addresses VAT Returns. In accordance with section 31 of the Value Added Tax Act Chapter 81:05, a VAT registrant is required to submit a Tax Return for every tax [...]
The Guyana Revenue Authority (GRA) continues to provide assistance to the general public on various issues regarding the application of VAT. This policy therefore seeks to advise the public on issues regarding VAT Registration. A business must be registered with the GRA and display the VAT Certificate before charging VAT. Registration is categorised in Section [...]
A number of registered businesses have effected changes or are contemplating changes, relating to details of their business operations subsequent to Value Added Tax (VAT) registration. However, it should be noted that these changes must be communicated to the Guyana Revenue Authority (GRA), in accordance with the Value Added Tax Act Chapter 81:05. The following [...]
The Guyana Revenue Authority finds it necessary to provide guidance to the general public on the taxes it administers in order to promote voluntary compliance. This policy is intended to guide employers and employees regarding their obligation to withhold and remit Tributors’ tax respectively Section 33F (13) of the Income Tax Act, Chapter 81:01 defines [...]