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Professionals: Tax Practice Certificate

Professionals: Tax Practice Certificate

January 24, 2022

It is 2022 and the Guyana Revenue Authority is urging Professionals to commence renewal of their Practice Certificates. Professionals have from January 1 to February 28 each year to pay professional fees and renew their certificates in keeping with Section 37 of the Tax Act, Chapter 80:01.

The annual fee for the Tax Practice Certificate is Ten Thousand Dollars ($10,000) while the annual fee for Preparer of Returns is Twenty Thousand Dollars ($20,000).

All returns must be filed and taxes paid or the person must have entered into a payment arrangement with the GRA for taxes owing before Practice Certificates are renewed.

The First Schedule of the Tax Act, Chapter 80:01 provides that following professionals must have a Tax Practice Certificate:

  • Accountants
  • Auditors
  • Legal Practitioners
  • Medical Practitioners
  • Architects
  • Dentists
  • Optometrists
  • Engineers
  • Veterinary Surgeons
  • Physiotherapists
  • Pharmacists
  • Surveyors
  • Preparer of Returns

Professionals who practice privately for reward are required by law to be the holder of a Tax Practice Certificate. A Tax Practice Certificate is valid for one year (commencing January 1 and ending December 31).