Tax
GRA administers 25 percent corporate tax and 14 percent VAT
The Guyana Revenue Authority administers taxation. Corporation tax is 25 percent for non-commercial companies and 40 percent for commercial companies, VAT is 14 percent, and personal income tax is charged at 25 and 35 percent above a threshold. Petroleum operations are taxed under their production-sharing agreements and the Petroleum Activities Act rather than ordinary rates.
Key rules
- Jurisdiction — National, administered by the Guyana Revenue Authority
- Deadline — Corporate and individual returns: 30 April following the year of assessment
- Deadline — VAT: monthly by the 21st
- Deadline — PAYE remitted by the 14th of the following month
Governing law
- Income Tax ActCap 81:01
- Corporation Tax ActCap 81:03
- Value-Added Tax Act 2005
In practice
The split between 25 percent for non-commercial and 40 percent for commercial companies turns on whether at least 75 percent of gross income derives from trading in goods not manufactured by the company, telecommunications or banking, and misclassification is a common dispute. Petroleum revenues flow into the Natural Resource Fund under Act No. 20 of 2021, which sets withdrawal rules designed to insulate the budget from price volatility.