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Employers: Issuance of 7B Slips (Emolument Slips)

Employers: Issuance of 7B Slips (Emolument Slips)

January 19, 2022

The Guyana Revenue Authority is urging employers to assist their employees to file income tax returns on time by issuing them with 7B Slip or emolument slip in a timely manner. Employers should seek to complete distribution of 7B Slips to employees on or before February 28, 2022 in keeping with Regulation 11 of the Income Tax (Deduction of Tax from Emoluments) Regulation to enable them to file their income tax returns ahead of the April 30 filing deadline.

Employers have a legal obligation to provide each employee who would have worked with them wholly or partly during 2021 with an emolument slip. This slip must be issued irrespective of the entity’s relationship status with the employee.

Employers must ensure their employees’ correct TIN, ID and period(s) worked are correctly stated. The 7B Slip must also clearly bear the company’s stamp and signature of the employer/ finance/ accounts officer.

The GRA has developed a 7B Slip Generator tool to assist employers to generate and print 7B Slips.

Further, GRA urges employers to encourage employees to register for an Optimal e-service account and file Individual Income Tax Returns online. This saves time.

Persons who require information and guidance on the registration process can view the video demo via the YouTube link https://www.youtube.com/watch?v=ykm0WrjE1nI&t=163s or contact Tax Advisory Services on 220-6060 ext. 8000.

You can also find a step-by-step guide on how to access and file your income tax return online, utilizing e-service, on our YouTube page: https://www.youtube.com/watch?v=zxT3ns5iehg&t=25s.

Remember, the deadline for the submission of Income, Property, Capital Gains and Corporation Tax Returns is April 30, 2022.