Guyana

Overview

Last reviewed - 07 July 2020

Guyana is located on the north-eastern coast of South America and is bordered by the Atlantic Ocean, Venezuela, Brazil, and Suriname. Its total area is approximately 215,000 square kilometres (83,000 square miles). The country is divided into three counties: Essequibo, Demerara, and Berbice and ten administrative regions, with its capital residing in the City of Georgetown. 90% of the population lives on the coastal strip, while the Amerindians (Guyana’s indigenous people) mainly inhabit the savannahs and forest regions.

Guyana is a republic within the British Commonwealth. It became independent on 26 May 1966 and operates under a written Constitution (1980) with a form of government based on the Westminster System, with an elected Head of State. The official language is English and the population, as at the 2012 census, is approximately 747,884. The legal system is based mainly on the English common law; however, vestiges of a Roman-Dutch legal system remain, especially in the area of land tenure. The currency is the Guyanese dollar (GYD).

Guyana’s economy consists mainly of industries dependent on the utilisation of natural resources (e.g. agriculture, mining, fishing, timber). The main agricultural exports are rice and sugar, while bauxite and gold are the major mineral exports. The oil and gas industry is in the early stages of development, with Guyana currently being one of the prime targets for petroleum exploration with its offshore basin and, to a lesser extent, its inland Takatu Basin currently attracting a great deal of interest from petroleum exploration companies.

PwC Trinidad and Tobago has a dedicated team responsible for providing consulting services relating to Guyana tax issues.

Quick rates and dates

Corporate income tax (CIT) rates
Headline CIT rate (%)

25

Corporate income tax (CIT) due dates
CIT return due date

30 April

CIT final payment due date

30 April

CIT estimated payment due dates

15 March, 15 June, 15 September, and 15 December

Personal income tax (PIT) rates
Headline PIT rate (%)

40

Personal income tax (PIT) due dates
PIT return due date

30 April

PIT final payment due date

30 April

PIT estimated payment due dates

PAYE basis: 14th day of the month following that in which the employment income was paid.

Self-employed: On quarterly basis (1 April, 1 July, 1 October, and 31 December of each year).

Value-added tax (VAT) rates
Standard VAT rate (%)

14

Withholding tax (WHT) rates
WHT rates (%) (Div/Int/Roy)

Resident: 0 / 0 / 0;

Non-resident: 20 / 20 / 20

Capital gains tax (CGT) rates
Corporate capital gains tax rate (%)

20

Individual capital gains tax rate (%)

20

Net wealth/worth tax rates
Headline net wealth/worth tax rate (%)

NA

Inheritance and gift tax rates
Inheritance tax rate (%)

NA

Gift tax rate (%)

NA

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.