Property Tax is charged annually on the net property of any individual/business/company and is applied based on the amount by which the total value of the property owned by any Company at the end of the year, exceeds the total value of all debt owed by said Company, at the said time. Additionally, Property for the purposes of taxation is referred as all property movable or immovable, rights of any kind, and effects of any kind, situated or having their seat (location) in Guyana or elsewhere and the proceeds of sale thereof, and any money or investment for the time being representing them.