Taxes in Guyana

Guyana's central tax authority (Guyana Revenue Authority (GRA)), headed by the Commissioner-General, is responsible for taxation. Depending on the tax, further responsibilities lie with the customs authority (Customs and Trade Administration), the finance ministry (Ministry of Finance), the valuation board (Valuation Board), and the courts. The relevant laws include, among others, Income Tax, Corporation Tax, VAT, Capital Gains Tax, Property Tax, Customs, and Excise Tax. A tax identification number (TIN) is issued exclusively by the GRA. Companies, non-resident companies, sole traders, and partnerships can apply through GRA's online services (GRA eServices) or regional GRA offices. A TIN is required for transactions with government bodies, public corporations, and the central bank. Tax records and business books must generally be retained for at least eight years. An individual is generally tax-resident if they have their permanent residence in Guyana or stay there for more than 183 days in a year. Tax-resident individuals generally declare income from Guyana and abroad. For non-ordinarily resident or non-domiciled individuals, foreign income may become taxable once it is received in Guyana. The income year (Year of Income (YI)) is the twelve-month period in which income is earned; the subsequent assessment year (Year of Assessment (YA)) is the assessment period. For the 2026 tax year, the personal allowance is G$1,680,000 or one-third of the relevant income, whichever is higher. Relevant income, excluding certain withholding-tax income, is taxed at 25 percent up to G$3,360,000 and at 35 percent above that amount. An income tax return is generally required when income reaches at least G$1,680,000. The return and corresponding payment are generally due by 30 April. Employers remit pay-as-you-earn withholding (PAYE), meaning income tax withheld from wages, to the GRA monthly. The employee receives an emolument statement (Emolument Slip) and submits Form 7B where required. For employees, the calculation may take into account, among other items, a monthly allowance of G$140,000 or one-third of remaining income, NIS contributions of 5.6 percent up to a gross monthly salary of G$280,000, certain health and life insurance premiums, G$10,000 per month for each child under 18, and limited amounts from a second employment or overtime. Social insurance (NIS) is not income tax, but it affects the tax calculation. Self-employed individuals and persons with other earned income make advance payments on 1 April, 1 July, 1 October, and 31 December; any balance is generally due by 30 April. For companies, resident-company status depends on whether control and management are located in Guyana. The corporation tax rate is 45 percent for telephone companies, 40 percent for commercial companies, and 25 percent for other companies. For mixed activities, the commercial part is taxed at 40 percent and the non-commercial part at 25 percent. If the calculated tax of a commercial company is lower, a minimum tax of 2 percent of turnover may apply. Corporation tax returns are generally due by 30 April; company advance payments fall due on 15 March, 15 June, 15 September, and 15 December. For 2026, exemptions apply under certain conditions to registered businesses in agriculture and agro-processing, child and elderly care, and a reintroduced export allowance for timber. VAT is the value-added tax on taxable domestic and imported goods and services. The standard rate is 14 percent; the included VAT component can be calculated as 7/57. Registration is generally required if taxable turnover in the previous twelve months reaches at least G$15,000,000, the threshold is exceeded earlier, or it is expected to be reached within the next twelve months. Below the threshold, voluntary registration is possible if there is an identifiable business activity, adequate records, and an intention to make taxable supplies. Organizers of public entertainment and auctioneers must register regardless of turnover. VAT is reported monthly as the difference between output tax and input tax. Additional filing obligations apply to imported services. Certain exports and services are zero-rated. For 2026, the listed zero-rated categories include locally manufactured furniture and jewelry, all-terrain vehicles, fire extinguishers, smoke detectors, and safety equipment. Certain double-cab pickups up to 2,500 cubic centimeters, new vehicles under four years old up to 1,500 cubic centimeters, hybrid vehicles up to 2,000 cubic centimeters, and outboard engines up to 150 horsepower are VAT-exempt subject to the statutory conditions. The GRA gives both 15 official working days after the end of the month and day 21 as deadlines for monthly VAT returns; the current deadline should therefore be confirmed with the GRA for the specific case. Withholding tax may arise in particular on payments to non-resident recipients for interest, dividends, rent, management, technical or professional services, royalties, and recurring payments. For non-resident landlords, the tax is 20 percent of gross rent. Payments exceeding G$500,000 to a resident contractor are generally subject to 2 percent withholding tax excluding VAT where a written contract, subcontract, or order exists. For a non-resident company carrying out an activity in Guyana, withholding tax is generally 10 percent of the gross amount; the payer remits it, and the company may credit it against its own assessment. For insurance, Premium Tax is 10 percent for foreign insurers without a business address in Guyana and 6 percent for insurers in Guyana. Capital Gains Tax applies to certain net capital gains and is charged at 20 percent. Permitted acquisition, improvement, and disposal costs may reduce the gain insofar as they have not already been taken into account for income tax. Exceptions include, among others, a disposal more than 25 years after acquisition, certain gains treated as income tax, a gain of up to G$500,000, and cases where the gain is received within twelve months. The gain must be reported together with the individual tax return and a calculation by 30 April. Mining is subject to special rules. The mining tax (Tributors Tax) is 10 percent of gross remuneration in gold and diamond mining. Payment is made quarterly on 1 April, 1 July, 1 October, and 31 December; the annual return is due by 28 February. Where an alternative employment treatment applies, PAYE and NIS may apply instead. For Property Tax, the net value of property is calculated as assets less liabilities and debts. The GRA guide states an exemption threshold of G$40,000,000, followed by 0.5 percent on the next G$20,000,000 and 0.75 percent on the amount above that. Following the 2025 amendment, individuals generally have no Property Tax liability from 1 January 2025; arrears may remain for earlier years. Property Tax remains relevant for companies, but the current filing obligation should be confirmed with the GRA. Imports are cleared through ASYCUDA World using an electronic customs declaration (Single Administrative Document). Typical documents include a TIN, invoice, bill of lading or air waybill, required permits and licenses, valuation documents, and, where applicable, a regional certificate of origin (CARICOM Certificate of Origin). Customs Duty depends on the tariff and HS code; VAT and Excise Tax may also apply. The environmental levy (Environmental Levy) is G$10 for each non-returned metal, plastic, or glass container for alcoholic or non-alcoholic beverages. It is paid during import clearance or monthly by manufacturers. Excise Tax applies, among other things, to tobacco, petroleum products, motor vehicles, and other goods specified by law; vehicle rates depend, among other factors, on age, fuel, engine capacity, and use. The departure tax (Travel Tax) is G$3,500 per departure. For travelers aged 65 and over, a security fee of G$2,500 applies at CJIA, while a full exemption from departure tax may apply at Ogle Airport under certain conditions. The flight-fare tax (Travel Voucher Tax) is 15 percent of the ticket price under the Tax Act. The online portal enables tax returns, payments, account statements, and refund applications. A tax compliance certificate (Certificate of Compliance) generally confirms that returns have been filed and taxes paid. For income tax, the GRA states a late-payment penalty of 2 percent per month and interest of 18 percent; late, inaccurate, or false returns may additionally trigger percentage surcharges, fines, multiple tax charges, or imprisonment. Assessed taxes may be enforced as a government debt. An objection to a tax assessment must state the specific reasons in writing and be filed within 20 days. The undisputed amount must be paid. Following the Commissioner-General's decision, or if no response is received within 40 days, an appeal may be filed within a further 20 days; this generally requires a deposit of two-thirds of the disputed amount. A further court review by a Judge in Chambers is possible within 20 days. For VAT, a refund application may be submitted after six months of unsold inventory. Guyana applies rules on worldwide income for residents in cross-border matters, source and receipt rules for non-residents, and withholding tax. The multilateral CARICOM agreement for the avoidance of double taxation has applied to Guyana since 30 November 1994; Guyana ratified it on 26 November 1997. There are also agreements with Canada and the United Kingdom. Under the Foreign Account Tax Compliance Act (FATCA), Guyanese financial institutions report accounts of US taxpayers annually to the GRA, which forwards the information to the IRS. For deadlines and individual rates, current GRA notices and the legislation are decisive because official GRA pages differ on some rules.