Capital Gains Tax : Act


The Capital Gains Tax Act, Chapter 81:20 is one of the many acts administered by the Guyana Revenue Authority.

Capital Gains Tax was introduced in Guyana from the year of assessment commencing 1st January 1965.This is the tax that persons are required to pay on the gains made from the disposal of assets.

An asset may be disposed of either by selling it to someone else, giving it as a gift to another person, or exchanging it with another person. This may be done either wholly or partially.


A capital gain is the amount by which the consideration received for the change of ownership of an asset exceeds its cost of acquisition, or its value at the time it was acquired, or its market value as at 1st January 1991, whichever is later.

The term Acquisition means obtained by purchase, gift, inheritance, or exchange, or in any other manner whatsoever.

Capital gains may also arise from the surrender or relinquishment or transfer of rights, and from redemption, dissolution, liquidation, amalgamation, merger and formation of companies.

Where initial, annual or wear and tear, or obsolescence allowance is granted under the Income Tax (In Aid of Industry) Act, Chapter 81:02, or the Income Tax Act, Chapter 81:01, in respect of the property disposed of, the capital gain shall be the amount by which the value of the consideration received exceeds the cost of acquisition or the value upon acquisition, as the case may be, of the property, less any initial, annual, wear and tear or obsolescence allowance granted in respect of that property since 1st January 1991.