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#TaxationSimplified

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VAT & INVOICES

#TaxationSimplified: VAT & Invoices If you have recently started your VAT Registered Business then this information will be of some assistance to you, as it relates to the issuance of taxable supplies and tax invoices. It is important to note…

CHANGE IN BUSINESS INFORMATION

#TaxationSimplified: Change in Business Information Businesses often change their business activities to improve on their operations; doing so they often neglect to inform the respective authorities to ensure they remain compliant with those agencies. Have you recently considered making changes…

TAXABLE & NON-TAXABLE ALLOWANCES

#TaxationSimplified: Taxable & Non-Taxable Allowances So you have recently landed a new job and have been granted some allowances to carry out your responsibilities. The first question you should ask is what is an Allowance? And secondly, what are the…

MEAL ALLOWANCE

#TaxationSimplified: Meal Allowances This week’s #TaxationSimplified, explains how employees of both the Private and Government Sectors benefit from Meal Allowances. Meal allowances are generally considered taxable and are paid to employees for the purchase of meals throughout the course of…

PROPERTY TAX – INDIVIDUALS

This week’s #TaxationSimplified, explains how Property Tax is administered to individuals on the value of their net property. Section 2 of the Property Tax Act defines “property” as, immovable property (house and land), movable property (motor vehicles, furniture, jewellery, and…

DEDUCTION & REMITTANCE OF PAY AS YOU EARN (PAYE)

#TaxationSimplified: Deduction & Remittance of PAYE DESCRIPTION: This week’s #TaxationSimplified provides guidance to employers on the deduction and remittance of Pay As You Earn (Income Taxes). Section 93 (1) of the Income Tax Act, Chapter 81:01 provides that “any remuneration…

VAT REGISTRATION

#TaxationSimplified: VAT Registration DESCRIPTION: Have you considered opening a business, where a ‘VAT-able’ service will be provided? Well before you do, here’s what you need to know as it relates to value added tax application. Let’s take a look at…

HOUSING ALLOWANCE

#TaxationSimplified: Housing Allowance Are you the recipient of a housing allowance from your Employer to cover your rent, boarding or lodging expenses? Then this week’s #TaxationSimplified is for you! Is Income Tax charged on the housing allowances issued by my…

CAPITAL GAINS TAX

#TaxationSimplified: Capital Gains Are you planning to sell a property or dispose of assets in an effort to make a gain on any capital? If yes, the following information will guide you on your obligations to the Guyana Revenue  Authority…
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