The Guyana Revenue Authority (GRA) wishes to advise on the following legislative changes:
Property Tax
Exempt from Paying Property Tax and Filing Property Tax Return (Individuals)
Effective January 1, 2025, pursuant to amendments made to Section 6 (y) of the Property Tax Act, Chapter 81:21, an individual is not liable to pay property tax. Consequently, this means that individuals are not required to file a property Tax Return on April 30, 2026 and pay property tax for the Year of Assessment 2026 (Year of Income 2025). However, it is important to note that Property Tax returns and payments for years prior to the Year of Assessment 2026 remain due.
Corporation Tax
Effective January 1, 2026, in accordance with Section 7 of the Corporation Tax Act, Chapter 81:03, there shall be exempt from Corporation Tax:
(u) the income arising from agriculture and agro-processing
(w) the income arising from child care services and elderly care services
The aforementioned income is specifically related to income from companies that are incorporated, not individuals.
Value-Added Tax
Amendment to Schedule 1 and Schedule 2
Effective February 16, 2026, Schedule 1 and Schedule 11 of the Value-Added Tax Act Chapter 81:05 have been amended accordingly:
The following supplies are zero-rated:
- Locally produced furniture
- Locally produced jewellery
- All-terrain vehicles (all supplies without exception)
- Fire Extinguishers and Smoke Alarms
- Security equipment including security cameras and alarm systems
The following supplies are Exempt:
- Double Cab Pickups not exceeding 2,500cc.
- New Vehicles (less than 4 years old), not exceeding 1500cc.
- Hybrid vehicles not exceeding 2000cc.
- Outboard Engines not exceeding 150HP
Income Tax
Effective January 1, 2026 PART III of the Fifth Schedule of the Income Tax Act, Chapter 81:01, which lists the products that do not qualify for Export Allowances, has been amended.
Timber has been removed from the schedule. Consequently, the export of timber by companies can now qualify for export allowance, which can be claimed in ascertaining their chargeable income.
Persons desirous of further clarification or information are asked to contact the Tax Advisory Services Division on telephone number 225-5061 ext. 2200-2211
