Guyana announces additional tax relief measures

Closeup of Ruffled Guyana Flag, Guyana Flag Blowing in Wind

The Guyana Revenue Authority (GRA) on Tuesday announced a range of additional tax relief measures that will assist Guyanese as the country grapples with the fight against the COVID-19 pandemic.

According to the GRA, the tax relief will support businesses and individuals who have been socially and economically disadvantaged by the threat of the virus.

The relief measures include the removal of Value Added Tax (VAT) on water and electricity with effect from April 1 to June 30 and the removal of VAT on domestic air travel from April 8 to June 30. The GRA has also extended the April 30 deadline for the filing of tax returns to June 30 and has expedited the processing of VAT refunds for businesses and PAYE refunds for employees.

The Revenue Authority noted that despite having employees working from home, it continues to provide essential services to the taxpaying public, while at the same time, collect vital revenue necessary for the provision of services to the people of Guyana.

GRA is also fast-tracking the provision of its services electronically, including the submission of documents and payments. It also continues to provide the essential services needed to clear all items, both by air and sea and also to expedite exports.

The tax relief measures are in addition to those announced earlier which, among other things, waived VAT duties on COVID 19 medical supplies and lab testing kits and granted tax deductions for all donations made by local businesses to staff and health institutions for the treatment of the virus.