The Guyana Revenue Authority continues to outline the application of Value-Added Tax (VAT) to specific goods and services. This policy therefore provides a better understanding with respect to zero-rated supplies and guidance on the items, which are zero-rated. Zero-rated supplies…
The following forms the guiding principle when advertising, displaying or quoting prices for goods and services that are subject to VAT at the standard rate of fourteen percent (14%). Persons registered for Value-Added Tax (VAT), must charge VAT on all…
The following forms the guiding principle with respect to the registration of promoters of public entertainment: In accordance with Section 11 (8) of the Value-Added Tax Act, Chapter 81:05, “…., a promoter of public entertainment, and licensees and proprietors of…
The following forms the guiding principle with respect to Charitable Organisations. These organisations are exempt for the purposes of VAT in keeping with Section 18 of the Value Added Tax Act, Chapter 81:05, which provides for all services listed in…
The Guyana Revenue Authority has dealt with VAT Registration in prior publications; however, there is a need to highlight the law governing the Cancellation of VAT Registration. This policy therefore seeks to provide information regarding the persons eligible, rules and…
In a continued effort to provide guidance and quality service to stakeholders and the general public on various issues regarding the application of Value-Added Tax (VAT), the Guyana Revenue Authority has prepared this policy to offer clarification on matters regarding…
The Guyana Revenue Authority (GRA), in its continued effort to sensitize the public on matters of interest, has prepared the following policy to provide guidance on Value-Added Tax (VAT) on Spectacles. According to the Concise Oxford English Dictionary, spectacles are…
The Guyana Revenue Authority (GRA), in its continued effort to sensitize the general public on matters of interest, has prepared the following policy to provide guidance on Value-Added Tax (VAT) on Financial Services. Section 18 of the Value-Added Tax (VAT)…
The following is the Guyana Revenue Authority’s Value-Added Tax (VAT) guiding principle in relation to application for refunds. Many taxpayers have been querying whether they are required to apply to the VAT Department each month for refunds in respect of…
Year of Income (YI) Year of Assessment (YA) (Personal Allowance) Amount of Deduction NIS Medical & Life Insurance Premium Threshold Rates on Chargeable Income 2007 2008 $336,000 33 1/3% 2008 2009 $420,000 33 1/3% 2009 2010 $420,000 33 1/3% 2010…