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This policy is intended to offer the guiding principles regarding Mortgage Interest Relief. Section 20A (1) of the Income Tax Act, Chapter 81:01 states that ‘subject to this Act and the Regulations made under it, in ascertaining the chargeable income…
This policy seeks to address the various issues regarding the application of Value Added Tax specifically on Sugarcane and Raw Brown Sugar. Schedule I, paragraph 13 (c) of the VAT Act zero rates a supply of sugarcane and raw brown…
The Guyana Revenue Authority continues to clarify various issues regarding the application of Value- Added Tax (VAT) to specific goods and services. Therefore, this policy seeks to addresses VAT relative to Peas and beans. Schedule I of the VAT Act…
A number of items that had attracted VAT at a rate of fourteen percent (14%) prior to March 1, 2008 have now been listed under the Schedule 1 of the VAT Act Chapter 81:05. This policy therefore seeks to enlighten…
This policy seeks to outline the rules regarding the Rental and Sale of Land and Buildings and Value Added Tax. Schedule II, paragraph 2 (d) of the Value-Added Tax exempts for the purposes of VAT: “A supply of- accommodation in…
Value Added Tax Registration is categorised in Section 11 of the Value Added Tax Act Chapter 81:05 as being mandatory or voluntary. Prior to 2016 the threshold for mandatory and voluntary registration was ten million dollars ($10,000,000). However, effective January…
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. In this regard, the following information provides general guidance for obtaining a…
The Guyana Revenue Authority continues to sensitise taxpayers, the general public and other stakeholders on matters pertaining to the various Acts it administers. In this regard, the following information seeks to give clarity as regards to the statutes, rules and…
The Guyana Revenue Authority continues to sensitise taxpayers, the general public and other stakeholders on matters pertaining to the various legislations it administers. In this regard, the following information seeks to give clarity on the statutes, rules and procedures which…
The Guyana Revenue Authority (GRA) is continuing its efforts to sensitise the general public on the various taxes it administers, so as to promote voluntary compliance. DEFINITION OF TERMS: Vacation Allowance The Income Tax Act does not provide a definition…