L.R.O. 1/2012
LAWS OF GUYANA
INCOME TAX ACT
CHAPTER 81:01
Act
17 of 1929
Amended by
12 of 1931 17 of 1966A 23 of 1988 Reg. 2/1972 O.29/1996
5 of 1932 3 of 1966B 6 of 1989 Reg. 10/ 1980 O.30/1996 9 of 1935 20 of 1968 7 of 1989 Reg. 1/1981 O.31/1996
13 of 1937 15 of 1969 13 of 1989 Reg. 1/1986 O.33/1996 22 of 1939 24 of 1969 14 of 1989 Reg. 7/1986 O.34/1996
2 of 1941 28 of 1969 6 of 1990 Reg. 8/1986 O.26/1997 13 of 1941 7 of 1970 6 of 1991 O. 19/1986 O.27/1997 10 of 1946 31 of 1970 9 of 1991 O. 44/1987 O.25/1998 24 of 1946 25 of 1971 28 of 1991 Reg. 1 /1988 O.10/1999
6 of 1947 4 of 1972 8 of 1992 Reg.2/1988 O.41/1999 1 of 1949 12 of 1973 13 of 1993 Reg.3/1988 O.7/2000 3 of 1949 25 of 1973 16 of 1994 Reg.4/1988 O.10/2001
26 of 1949 47 of 1974 3 of 1995 Reg.9/1988 O.6/2002 4 of 1951 3 of 1976 2 of 1996 Reg.3/1991 O.7/2002
16 of 1951 2 of 1978 3 of 1996 Reg. 4/ 1991 O.8/2002 18 of 1951 18 of 1980 17 of 1997 Reg.5/ 1991 R.3/2004 42 of 1952 3 of 1982 6 of 2000 Reg. 3/1992 35 of 1954 14 of 1982 4 of 2003 Reg. 4/1992
7 of 1955 11 of 1983 15 of 2003 Reg. 14/ 1994 22 of 1956 17 of 1983 7 of 2004 O.19/ 1994
4 of 1958 10 of 1985 9 of 2006 O.27/ 1994 21 of 1958 2 of 1986 15 of 2006 O.32/1994 28 of 1959 4 of 1986 12 of 2007 O.36/1994 36 of 1961 5 of 1987 2 of 2008 O.37/1994 11 of 1962 61 of 1987 13 of 2008 O.43/1994 25 of 1962 11 of 1988 10
2
4
of
of
of
2010
2011
2012
O. 27/1995
Current Authorised Pages
Pages
(inclusive)
Authorised
by L.R.O.
1 – 317 ... 1/2012
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Index
of
Subsidiary Legislation
Page
Exemption from Income Tax Order 153
(Proc. 24/8/1929, 6/1941, 6/1943,3/1952, 8/1956, 3/1957,
2/1959,4/1959, 7/1959, 3/1961, 7/1961, 6/1964, 4/1966A, 5/1966A,
1/1966B, 30/9/1968, 28/11/1969,66/1969;
O. 42/1971,43/1971, 61/1972, 34/1973, 163/1974, 2/1975, 51/1975,
70/1975,45/1976)

Mortgage Finance Company Order 167
(O. 48/1968, 86/1970)
Income Tax (Prescribed Deduction) Order 167
(O. 2/1948, 48/1968, 86/1970)
Double Taxation Relief (Taxes on Income) (Canada) Order 168
(O. 61/1987)
Double Taxation Relief (Taxes on Income) (United Kingdom of
Great Britain and Northern Ireland) Order
203
(O. 59/1992)
Income Tax (Exchange of Information) (United States of America)
Order
240
O. 35/1992
Income Tax (Gold and Diamond Mining) Regulations. 249
(Reg. 4/1949)
Income Tax (Board of Review) (Remuneration) Regulations 258
(Reg. 5/1957, 16/1974)
Income Tax (Board of Review Appeals Procedure) Regulations 258
(Reg. 4/1957)
Income Tax Appeal Rules 261
(R. 3/1929)
Income Tax (Recovery) Regulations 273
(Reg.19/1971)
Notice 274
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(Gaz. 18/6/1966, Nt. 69A)
Income Tax (Depreciation Rates) Regulations 274
(Reg. 24/1955, 29/1969)
Income Tax (Declaration of Secrecy) Regulations 276
(Reg. 19/1954, 6/1957)
Income Tax (Deduction of Tax from Emoluments) Regulations 281
(Reg. 3/1991, 13 of 1996)
Income Tax (General) Regulations 291
(Reg. 5/1943, 27/1950, 22/1953, 2/1958, 6/1960, 18/1962, 5/1963,
16/1963, 11/1970, 11/1972, 5/1973, 10/1980, 1/1988, 4/1991, 13 of
1996)

Deduction of Income Tax (Employment) Regulations 293
(Reg. 24/1953, 10/1980, 2/1988, 13 of 1996)
Income Tax (Payment of Tax by Companies) Regulations 299
(Reg. 5/1974)
Income Tax (General) (Payment of Tax) Regulations 302
(Reg. 18/1962, 13/1971)
Income Tax (Institutions) Regulations 305
(Reg. 2/1969)
Income Tax (Government Securities Allowances) Regulations 305
(Reg. 13/1969, 16/1973)
Income Tax (Prescribed Organisation) Regulations 306
(Reg. 17/1974, 13/1979, 1/1981, 7/1986, 8/1986, 3/2004)
Income Tax (Accounts and Records) Regulations 306
(Reg. 7/1980, 14/1994, 13 of 1996) (Reg. 17/1974, 13/1979,
1/1981, 7/1986, 8/1986, 3/2004)

Income Tax (Valuation of Quarters or Residence) Regulations 308
(Reg. 7/1989)

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CHAPTER 81:01
INCOME TAX ACT
ARRANGEMENT OF SECTIONS
SECTION
1. Short title.
2. Interpretation.
ADMINISTRATION
3. Appointment of administrative authority.
4. Official secrecy.
IMPOSITION OF INCOME TAX
5. Charge of income tax.
6. Gains or profits from employment deemed to be derived from
Guyana.
7. Provisions relating to income from employment, etc.
8. Relief for aged and incapacitated persons.
9. Profit of non-resident persons from sale of exported produce.
10. Profit arising from deductions previously allowed.
11. Basis of assessment.
12. Special periods of assessment.
13. Exemptions.
14. Government loans.
15. Exemption of approved mortgage finance company from payment
of tax.
ASCERTAINMENT OF CHARGEABLE INCOME
16. Deductions allowed.
17. Allowance for wear and tear.
18. Deductions not to be allowed.
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SECTION
19. Losses carried forward.
20. Deductions.
21-25. [Repealed by Act No. 9 of 1991.
25A-25B. [Repealed by Act No. 6 of 1990]
26-28. [Repealed by Act No. 9 of 1991]
28A. Presumptive method of determining income of certain self-employed
individuals.
29. Special provisions as to certain companies.
(a) Mutual Insurance Companies other than Life Insurance
Companies.
(b) Insurance Companies other than Life Insurance Companies.
(c) Life Insurance Companies.
30. Profits of non-resident ship owner.
31. Profits of non-resident' s air transport and cable undertakings.
32. Special provisions as to gold or diamond mining companies.
33. Allowance of trade loss to gold or diamond mining companies.
33A. Certain provisions inapplicable in ascertaining chargeable income
from petroleum operations.
33B. Petroleum capital expenditure allowance.
33C. Export allowance.
33D. Land development expenditure allowance.
33E. Special provisions for individual operators in gold or diamond
mining industry.
33F. Special provisions for deductions and payment of emoluments
tributors.
33G. Income of painter, sculptor, author.
34. Charge of wife's income to tax.
34A. [Repealed by Act No. 9 of 1991]
34B. Reputed wife's income.
35. Allowance in respect of donations to Government or national or
international institutions or organisations.
35A. Deductions, exemptions and additions in relation to approved savings
schemes.
RATES OF TAX
36. Rates of tax.
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SECTION
37. [Repealed by Act No. 28 of 1991]
37A. Minimum tax on self-employed professionals.
38. Meaning of distribution.
39. Rates of withholding tax.
40. Meaning of "payment".
41-42.[Repealed by Act No. 16 of 1994]
43. Discharge of liability for withholding tax.
44. Certificate for deduction of tax.
45. [Repealed by Act No. 28 of 1991]
46. Tax deducted from distribution or dividend to be set off
against tax of shareholders.
47. Temporary residents.
48. Chargeability of trustees and other representatives.
49. Chargeability of agent of person residing out of Guyana.
50. Matters to be done by representatives.
51. Lists to be prepared by representative or agent.
52. Manager of corporate bodies.
53. Indemnification of representatives.
54. Power to appoint agent.
55. Deceased persons.
56. [Repealed by Act No. 8 of 1992]
57. Deduction of tax from premiums paid in respect of insurance other than
long-term insurance.
58. Agents of non-residents to be assessed for tax.
59. Returns of claims for allowances to the Commissioner-General.
RETURNS AND PARTICULARS OF INCOME
60. Returns to be furnished to Commissioner-General.
61. Government and municipal officers to supply particulars: employers to
make returns relating to employees.
62. Persons to estimate tax.
63. Power to require information.
63A. Information by affidavit.
64. Powers of the Commissioner-General.
65. Account and records.
66. Partnerships.
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SECTION
67. Offences.
68. Payment by companies of tax in accordance
with disclosed charge- able income.
69. Payment of tax by instalments.
ASSESSMENTS
70. Commissioner-General to make assessments.
71. Recovery of tax in certain cases.
72. Additional assessments.
73. [Repealed by Act No. 28 of 1991]
74. Commissioner-General may disregard certain transactions and
dispositions.
75. Transfers of property income.
76. Lists of persons assessed.
77. Appointment of agent in United Kingdom.
78. Notice of assessment and power of Commissioner-General to
revise in case of objection.
79. Boards of review.
80. Appointment of officers of the Board.
81. Minutes of the Board.
82. Appeals to the Board against assessments.
83. Powers of the Board.
84. Duty of witnesses summoned.
85. Regulations.
86. Appeals to a judge or the Full Court against assessments.
87. Errors in assessments and notices.
88. Evidence.
RELIEF CASES OF DOUBLE TAXATION
89. Relief from double taxation.
90. Unilateral relief.
91. Power to vary withholding tax.
92. Official secrecy.
92A. Exchange of Information.

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SECTION
COLLECTION AND REPAYMENT OF TAX
93. Deduction and payment of emoluments.
94. Commissioner-General to prepare tax tables.
95. Transitional provisions. .
96. Special provisions for payment of tax by companies.
97. (1) Time within which payment is to be made.
(2) Procedure in cases where objection or appeal is pending.
98. Appellant to pay tax.
99. Penalty for non-payment of tax; and enforcement of payment.
100. [Repealed by Act No. 8 of 1992]
101. Certificates.
102. Garnishments.
103. Collection of tax after determination of objection or appeal.
104. Suit for tax by Commissioner-General.
105. Power to remit tax. .
106. Repayment of tax.
107. Refund of excess tax collected under section 93.
108. Remission certain penalties.
OFFENCES
109. Penalties for offences.
110. Penalty for making incorrect returns.
111. False statements and returns.
112. Impending or obstructing Commissioner-General or officers.
113. Proceedings.
114. Saving for criminal proceedings.
GENERAL PROVISIONS
115. Signing of notices.
116. Service of notices.
117. Regulations.
FIRST SCHEDULE—List of Commonwealth territories.
SECOND SCHEDULE—List of sports events.
THIRD SCHEDULE—Rates of Withholding Tax.
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FOURTH SCHEDULE—Double taxation regulations.
FIFTH SCHEDULE—Calculation of Export Allowances.
__________________________
1929 Ed.
c. 104
1953 Ed.
c. 304 _______________________________________________________
17 of 1929
An Act to impose a Tax upon Incomes and to regulate the
collection thereof.
[23RD MARCH, 1929]
Short title.
Interpretation.
[22 of 1959
11 of 1962
25 of 1962
24 of 1969
7 of 1970
31 of 1970
4 of 1972
25 of 1973
18 of 1980
2 of 1986
4 of 1986
5 of 1987
3 of 1995
13 of 1996]
1. This Act may be cited as the Income Tax Act.
2. (1) In this Act—
"associated companies" means two or more companies where
one has directly or indirectly control of the other or any
person has control directly or indirectly of both or of all
of them; and where two or more companies share
directly or indirectly equally in ownership of all the
ordinary share capital of another company all shall be
deemed to be associated companies;
"body of persons" means any body politic, corporate or
collegiate, and any company, fraternity, fellowship, or
society of persons whether corporate or not corporate;
"business" includes an undertaking of any kind whatsoever
and includes an adventure or concern in the nature of
trade but does not include an office or employment;
"chargeable income" means the aggregate amount of the
income of, any person from the sources specified in
section 5 remaining after allowing the appropriate
deductions and exemptions pertaining to each source
separately, and such appropriate exemptions and
CHAPTER 81:01
INCOME TAX
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c. 81:03

deductions as pertain to his aggregate income;
"close company" has the same meaning as in the Corporation
Tax Act;
"Commissioner-General " means the Commissioner-General
charged with the administration of this Act;
"the Commonwealth" shall be deemed to include those
territories and their dependencies which are set out in the
First Schedule to this Act;
"Commonwealth Income Tax" means any income tax charged
under any law in force in any part of the Commonwealth
other than the United Kingdom;
"company" means a body corporate or unincorporated but
does not include a partnership;
"consolidated profits" means the gains and profits for the year
of a whole group of subsidiary and associated
companies, including that of the controlling company or
companies, after the elimination of such income
received by any of these companies which
represents dividends paid by other companies of the
group;
"consolidated turnover" means the turnover for the year of a
whole group of subsidiary and associated companies,
including that of the controlling company or
companies, after the elimination of all transactions
between the various subsidiaries and associated
companies and these and the controlling company or
companies;
"distribution" has the meaning assigned to it in section 38;
"earned income" means—
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(a) any income which is immediately
derived by an individual or by his
wife or reputed wife from the
carrying on or exercise by him or by
his wife or reputed wife of a
trade, business, profession or
vocation either as an individual, or, in
the case of a partnership, as a partner
acting therein; and
(b) any income arising from any gains or
profits including any allowance, from
any employment held by an
individual or by his wife or reputed
wife;
"emoluments" include annuity other than an annuity paid out
of a superannuation fund, and remuneration;
"employed" means performing the duties of an office or
employment;
"employee" means any person receiving remuneration and
includes an officer, servant or person holding a position
of employment;
"employer" means any person paying remuneration
(including the Government) and in relation to an
officer means the person from whom the officer
receives his remuneration;
"employment" means the position of an individual in the
service of some other person (including the
Government);
"head office expenses" means any expenses arising from a
charge by a non-resident parent company or a non-
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c. 28:02
c. 28:01

c. 81:03

resident associate company of a company resident in
Guyana, or a non-residential associate or subsidiary
company of a non-resident company in respect of a
branch or agency owned by the non-resident company
in Guyana, or the head office of a non-resident company
in respect of a branch or agency in Guyana, for any
administrative, technical, professional or other like
service of an essentially managerial nature, performed by
such a non-resident parent or non-resident associate
company or subsidiary company or head office of a non-
resident company;
"incapacitated person" means any infant, lunatic, idiot or
insane person;
"local authority" means the Mayor and Town council of
Georgetown, the Mayor and Town Council of New
Amsterdam, the council of any town or local
government district established under the Municipal and District Councils Act, any local authority under the Local
Government Act or constituted under any written law for the time being in force, any authority for the
administration of drainage or irrigation or drainage
and irrigation, any authority for the supply of water, any
polder authority and any authority for the administration
of sewerage, waterworks, roads or sea defences;
"office" means the position of an individual entitling him to a
fixed or ascertainable stipend or remuneration and
includes a judicial office, the office of a Minister of the
Government, the office of a member of Parliament, and
any other office the incumbent of which is elected by
popular vote or is elected or appointed in a
representative capacity, and also includes the position
of a director of a body of persons and "officer" means
a person holding an office;
"participator" has the same meaning as in the Corporation Tax
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c. 65:04

c. 65:04
Act;
"pension" includes any superannuation or other allowance, or
deferred pay given in respect of the past services of an
individual or of the husband or reputed husband or wife
or reputed wife or parent of such individual or given to
such persons in respect of the past services of any
deceased person or under any superannuation fund or
scheme, and "pensioner" means a person in receipt of a
pension;
"petroleum" has the meaning assigned to it by the
Petroleum (Exploration and Production) Act;
"petroleum contract" means a contract relating to petroleum
operations, entered into by a person with the holder of a
petroleum licence, by which that person contracts to
carry out the petroleum operations in consideration of a
right to take a share of any petroleum produced as a
result of the petroleum operations;
"petroleum licence" means a petroleum prospecting
licence or a petroleum production licence granted under
Part IV of the Petroleum (Exploration and Production)
Act;
"petroleum operations" means operations carried out for,
or in connection with, the prospecting for, or
production of, petroleum whether carried out by the
holder of a petroleum licence or by any other person, on
behalf of the holder of a petroleum licence, under a
petroleum contract;
"remuneration" means all salaries, wages, overtime, leave
pay, sick bonus, stipend, commission, or other payment
of any kind for services, director's fees, retiring
allowances, compensation for the termination of any
contract of employment or service, and any
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perquisites, including the annual value of any
residence, quarters, board and lodging whether paid in
money or otherwise, arising or occurring in or derived
from or received in Guyana which are chargeable under
this Act, but shall not include any salary or share of
profits arising from a trade, business, profession or
vocation carried on by a person either by himself or in
partnership with any other person;
"resident in Guyana" when applied—
(i) to an individual means an individual who—
(a) resides permanently or being in
Guyana intends to reside
permanently in Guyana except for
such temporary absences as to the
Commissioner-General may seem
reasonable and not inconsistent
with the claim of such individual to
be resident in Guyana; or
(b) resides in Guyana for more than 183
days in the year;
(ii) to a body of persons means anybody of
persons the control and management of
whose business are exercised in Guyana;
"sporting events" means such activities as are prescribed in
the Second Schedule as amended from time to time by
order of the Minister;
"sports organisation" means a body of persons established
for the purpose of promoting or advancing any sporting
event being a body of persons, to a share in the
income of which no member of the organisation or
person other than another sporting organisation is
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entitled, and being a body of persons the income of
which is applied wholly to the promotion or
advancement of sporting events or the provision of
facilities or amenities for competitors or participators in
or the members of the public who attend sporting events;
Provided that a body of persons shall not cease to be a
sports organisation by reason of the fact that a portion of
its income is donated to any charitable or educational
institution of a public character;
"subsidiary" means a company which is controlled
directly or indirectly by another company; without
prejudice to the generality of the foregoing a company
is deemed to be controlled by another company if and
so long as not less than fifty percent of its ordinary share
capital is owned directly or indirectly by that other
company;
"tax" means the income tax imposed by this Act:
"turnover" means in the case of a person carrying on a
business, trade, profession or vocation, the total receipts
in money or money's worth of the year or of such other accounting period as the Commissioner- General may
allow, from his activities, including all cash and credit
sales, commissions and fees receivable, without any
deductions for taxes or duties or expenses of whatsoever
nature incurred;
"whole time service director" means a director of a company
who is required to devote substantially the whole of his
time to the services of such a company in a managerial
or technical capacity and is not the beneficial owner of, or
able, either directly or through the medium of other
companies or by any other means, to control, more than
five percent of the share capital or voting power of such
company;
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Appointment
of adminis-
trative
authority
[12 of 1931
11 of 1962
17 of 1966A
7 of 1970
6 of 1989]
13 of 1993]

Official
Secrecy.
[26 of 1949
7 of 1970]
"year of assessment" means the period of twelve months
commencing on the 1st January, 1929, and each
subsequent period of twelve months.
(2) For the purposes of this Act, a person shall be
deemed to be resident in Guyana who is employed in the
service of the Government of Guyana in an office the duties
of which require that he shall reside outside Guyana.
ADMINISTRATION
3. (1) For the due administration of this Act, there
shall be a Commissioner General, a Senior Deputy
Commissioner General, two and such number of Assistant
Commissioners of Inland Revenue Deputy Commissioners
General and other officers as may be requisite for the
purpose.
(2) Any functions conferred by this Act on the
Commissioner-General shall be exercised, as may be
necessary, by the Senior Deputy Commissioner of the
Revenue Authority , any Deputy Commissioner of the
Revenue Authority or any Assistant Commissioner of the
Revenue Authority, according as the Commissioner-
General may direct, and reference in this Act to the
Commissioner-General shall be construed accordingly.
4. (1) Every person who has any official duty or is
employed in the administration of this Act shall regard and
deal with all documents, information, returns, assessment
lists and copies of those lists relating to the income or items of
income of any person, as secret and confidential, and
shall make and subscribe a declaration in the form prescribed
to that effect before a magistrate.
(2) Every person having possession of or
control over any documents, information, returns, or
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Charge of
Income Tax.
[6 of 1947
18 of 1951
42 of 1952
1 of 1962
25 of 1962
17 of 1966A
31 of 1970
18 of 1980
2 of 1986
16 of 1980]

assessment lists or copies of those lists, relating to the income
or items of income of anyone who at any time communicates
or attempts to communicate that information, or anything
contained in the documents, returns, lists or copies to any
person—
(a) other than a person to whom he is
authorised by the President to
communicate it; or
(b) otherwise than for the purposes of
this Act;
shall be guilty of an offence.
IMPOSITION OF INCOME TAX
5. Income tax, subject to this Act, shall be payable at
the rate or rates herein specified for each year of the
assessment upon the income of any person accruing in or
derived from Guyana or elsewhere, and whether received in
Guyana or not, in respect of—
(a) gains or profits from any trade,
business, profession, or vocation, for
whatever period of time the trade,
business, profession, or vocation, may
have been carried on or exercised;
(b) gains or profits from any office or
employment, including compensation
for the termination of any contract of
employment or service, the estimated
value of any quarters or board or
residence (after allowing in cases in
which the quarters, board or
residence is not free, for any sum paid
or payable by way of rent,
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contribution or otherwise for such
quarters, board or residence) or of any
other allowance granted in respect of
employment whether in money or
otherwise, other than an allowance for
medical or dental expenses, or for
any passage to or from Guyana:
Provided that—
(i) the exclusion of an allowance
for medical or dental
expenses or for any passage to
or from Guyana shall not apply
in respect of any director other
than a whole-time service
director;
(ii) no income tax shall be payable
under this paragraph in respect
of a subsistence, travelling,
entertainment or expense
allowance if it is proved to the
satisfaction of the Commissioner-General that the
allowance has been expended
for the purposes in respect of
which the allowance has been
given;
(iii) where any allowance to
any such person as is
mentioned in section 2(2) is
certified by the Minister to
represent compensation—
(A) for the extra cost of
having to live outside
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Gains or
Profits from
employments
Guyana in order to
perform his duties;
(B) for the actual expenses
incurred by such person
in performing his duties
as a representative of
Guyana outside Guyana;
that allowance shall not
be deemed to be income
for the purposes of this
Act;
(iv) no income tax shall be
payable on any medical
discharge or severance pay
benefits or on any station
allowance;
(c) dividends, not being dividends paid
by companies resident in Guyana,
interest or discounts;

(d) any charge or annuity other than an
annuity paid out of a
superannuation fund;
(e) rents, royalties, premiums, and any
other profits arising from property:
Provided that in the case of income arising outside
Guyana which is earned income, or which arises to a person
who is not ordinarily resident in Guyana or not domiciled
therein, the tax shall be payable on the amount received in
Guyana.
6. The gains or profits from any employment
exercised in Guyana shall be deemed to be derived from
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deemed to be
derived from
Guyana.
[18 of 1951]
Provisions
relating to
income
from employ-
ment etc.
[11 of 1962
2 of 1978]

Guyana whether the gains or profits from such employment
are received in Guyana or not.
7. (1) Notwithstanding anything to the contrary
contained in any other provisions of this Act, but subject to
subsection (2), any remuneration received in respect of
employment or services rendered in a year other than the
year in which it is received, shall be deemed to be income in
respect of such other year:
Provided that where such remuneration is received in
respect of a year which expired earlier than six years prior to
the year in which it was received, it shall be deemed to be
income of the year which expired seven years prior to the
year in which it was received.
(2) Where any amount has been received as
compensation for the termination of any contract of
employment or service and the contract is for a specified
term, whether or not provision is made in such contract for
the payment of such compensation, such amount shall be
deemed to have accrued evenly over the unexpired period of
such contract, and where the contract is for an unspecified
term, whether or not the contract provides for compensation
on the termination thereof, the amount received as
compensation shall be deemed to have accrued in the period
immediately following such termination at a rate equal to the
rate per annum of the gains or profits from such
contract immediately prior to such termination:
Provided that where any amount has been received as
compensation for the termination of any contract of
employment or service in a year more than four years after
the year which the contract of employment of service was
terminated, such contract shall be deemed for the purposes of
this section to have terminated five years prior to the year in
which the amount of compensation was received.
LAWS OF GUYANA
Income Tax Cap. 81:01 21
L.R.O. 1/2012
Relief for
aged and
incapacitated
persons.
[2 of 1986
28 of 1991
8 of 1992
13 of 1993
3 of 1995
3 of 1996
13 of 1996
17 of 1997
4 of 2003
9 of 2006
12 of 2007
2 of 2008
2 of 2011
4 of 2012]

Profit of non-
resident
persons
from sale of
exported
produce.
[22 of 1956]
8. (1 ) Notwithstanding the provisions of section 39
(1) (c), (d) and (e) any person referred to in subsection (3)
whose income from all sources does not exceed six hundred
thousand dollars per annum shall be exempt from taxation on
interest earned on savings accounts.
(2) Any such person mentioned in subsection (1)
shall on or before the prescribed day in every year deliver to
the Commissioner General a true and correct return of his
income from all sources and shall be entitled to a repayment
of withholding tax deducted under section 39 (1) (c), (d) and
(e).
(3) Subsection ( 1 ) shall apply to a person who is
a resident in Guyana and who is—
(i) sixty years or over at the
commencement of the year
preceding the year of
assessment; or
(ii) incapacitated by illness or
infirmity.
(4) Where the income of a person from all sources
exceeds six hundred thousand dollars per annum then,
notwithstanding section 39(6) (b) that person shall at his
option be subject to income tax on his income from all sources
including interest on savings accounts in which case,
withholding tax deducted under section 39(1)(c), (d) and (e)
shall be granted as a set-off against the tax assessed.
9. (1) Where any person who is not resident in
Guyana in the year preceding the year of assessment carries
on in Guyana any agricultural, manufacturing or other
productive undertaking and sells any produce of such
undertaking outside Guyana or for delivery outside Guyana,
LAWS OF GUYANA
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L.R.O. 1/2012


Profit arising
from
deductions
previously
allowed.
[22 of 1956]

whether the contract is made within or without Guyana, the
full profit arising from the sale in a wholesale market shall be
deemed to be income accruing in, or derived from Guyana;
Provided that if it is shown that the profit has been
increased through treatment of the produce outside
Guyana other than by handling, grading, blending,
sorting, packing and disposal, such increase of profit shall
not be deemed to be income accruing in, or derived from
Guyana.
(2) Where any such produce is not sold in a
wholesale market, the amount deemed to be income
accruing in, or derived from Guyana shall not be less than
the profit which might have been obtained if such person had
sold such produce wholesale to the best advantage.
10. Where a sum has formerly been allowed as a
deduction section 16(1), and where in a later year the whole
or part of the sum so allowed is recovered, or the liability for
the outgoing is released in whole or in part, or where the
original sum being in the nature of a provision or reserve, its
further retention, in whole or in part, has become
unnecessary, then any sum so recovered or released shall be
deemed to be a gain or profit within the meaning of section
5(a) for the year of assessment in the basis period for which
such sum is so recovered or released:
Provided that if any person chargeable with tax in
respect of any such sum requests the Commissioner-General
in writing to exercise his power under this proviso, the
Commissioner-General may divide such sum into so many
portions not exceeding six, as he may think fit, and one such
portion shall be taken into account in computing the income
of such person for the year in which such sum is so brought
to charge under this subsection and for each of the preceding
years corresponding to the number of such portions; and
notwithstanding anything to the contrary in this Act, all such
LAWS OF GUYANA
Income Tax Cap. 81:01 23
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Basis of
assessment.
[26 of 1949
11 of 1962]


Special
periods of
assessment.
[5 of 1932
26 of 1949]




Exemptions.
[13 of 1937
24 of 1946
18 of 1951
42 of 1952
22 of 1956
4 of 1958
28 of 1959
11 of 1962
7 of 1970
4 of 1972
12 of 1973
18 of 1980
14 of 1982
additional assessments as are necessary to enable effect to be
given to the provision of this proviso shall be made.
11. Subject to this Act, tax shall be charged, levied,
and collected for each year of assessment upon the chargeable
income of any person for the year immediately preceding the
year of assessment.

12. Where the Commissioner-General is satisfied that
any person usually makes up the accounts of his trade or
business on some day other than that immediately preceding
any year of assessment the Commissioner-General may
permit the gains or profits of that trade or business to be
computed for the purposes of this Act upon the income of the
year terminating on that day in the year immediately
preceding the year of assessment on which the accounts of
the said trade or business have been usually made up:

Provided that where permission has been given for
any year of assessment, tax shall be charged, levied and
collected for each subsequent year upon the gains or profits
for the full year terminating on the like date in the year
immediately preceding the year of assessment subject to any
such adjustment as in the opinion of the Commissioner-
General may be just and reasonable.
13. There shall be exempt from the tax—
(a) the official emoluments received by
the President both when in and when
absent from Guyana and the
provisions of this paragraph shall
mutatis mutandis apply to the
emoluments of the Chancellor and
Chief Justice;

(b) the income of any person exempt from
LAWS OF GUYANA
24 Cap. 81:01 Income Tax
L.R.O. 1/2012
11 of 1983
2 of 1986
5 of 1987
6 of 1990
9 of 1991
28 of 1991
8 of 1992
7 of 2004]
corporation tax under section 7 of the
Corporation Tax Act;
(c) [Deleted by 28 of 1991]

(d) [Deleted by 28 of 1991]
(e) the emoluments payable to members
of the permanent consular services of
foreign countries in respect of their
offices or in respect of services
rendered by them in their official
capacity;
(f) wound and disability pensions
granted to members of the Guyana
Defence Force;
(g) gratuities granted to members of the
Guyana Defence Force in respect of
services rendered during any war;
(h) [Deleted by 28 of 1991]
(i) [Deleted by 28 of 1991]
(j) [Deleted by 28 of 1991]
(k) [Deleted by 28 of 1991]
(l) [Deleted by 28 of 1991]
(m) [Deleted by 28 of 1991]
(n) [Deleted by 28 of 1991]
(o) [Deleted by 28 of 1991]

LAWS OF GUYANA
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(p) the income arising from any
scholarship, exhibition, bursary or
any other similar educational
endowment held by a person
receiving full time instruction at a
university, college, school or other
educational establishment;
(q) [Deleted by 28 of 1991]
(r) [Deleted by 28 of 1991]
(s) the emoluments payable to personnel
of any Government other than the
Government of Guyana, whether
employed directly by the said
Government or under contract with
any public or private organisation, in
Guyana in connection with a technical
co-operation or assistance programme
or project where the agreement or
conditions relating to such
programme or project so provide, but
in respect of such personnel of the
Government of the United States of
America engaged in Guyana in
connection with such programme or
project to be carried out under the
Agreement for Technical Co-
operation entered into between the
Government of the United Kingdom
and the Government of the United
States of America on the 13th July,
1951, and applying to Guyana, the
exemption from tax conferred by this
paragraph shall be deemed to have
come into effect on the 12th July,
1954;
LAWS OF GUYANA
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L.R.O. 1/2012
1965 c. 38



Government
Loans.
[3 of 1996B
7 of 1970
31 of 1970]
(t) [Deleted by 28 of 1991]
(u) [Deleted by 28 of 1991]
(v) [Repealed by 9 of 1991]
(w) the emoluments payable as
supplements to salaries by the
Government of the United Kingdom
to persons employed in Guyana
under the British Expatriates
Supplementation Scheme established
under section 2 of the Overseas
Development and Service Act, 1965,
of the United Kingdom;.
(x) [Deleted by Act No. 5 of 1987]
(y) any emoluments payable under any
incentive scheme approved by the
Minister;

(z) pensions, gratuities paid in lieu of
pensions to Government employees
in respect of contracts of employment
or service, and annuities paid out of
superannuation funds.
Provided that nothing in this section shall be
construed to exempt in the hands of the recipients any
dividends, interests, bonuses, salaries, or wages, paid wholly
or in part out of the income so exempted.
14. The Minister may, by order provide that the
interest payable on any loan charged on the Consolidated
Fund or guaranteed by the Government shall be exempted
from the tax, either generally or only in respect of interest
LAWS OF GUYANA
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Exemption of
approved
mortgage
finance
company from
payment of
tax.
[20 of 1968
6 of 2000]

payable to persons not resident in Guyana; and that interest,
as from the date and to the extent specified in the order, shall
be exempt accordingly.
15. (1) The Minister may, by order, designate as an
approved mortgage finance company, any company which
has entered into an agreement with the Government
whereunder the company agrees to finance housing
development by making loans in accordance with the terms
of the agreement.

(2) Notwithstanding the other provisions of this
Act, there shall be exempt from tax in such manner and to
such extent as may be provided in any such agreement—
(a) the income of an approved mortgage
finance Company;
(b) the dividends paid by any such
company; and
(c) the interest paid by any such
company on any loan raised by the
company for purposes of its
operations.
(3) A copy of any agreement mentioned in
subsection (1) shall be laid before the National Assembly as
soon as practicable after the making, of an order under the
said subsection (1).
(3A) The agreement referred to in subsection (3)
shall include—
(a) a list of collateral to be accepted for
the loan including—
(i) a transport or registered
LAWS OF GUYANA
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c. 5:02
c. 36:21

c. 85:03
declaration of title;
(ii) a certificate or document of
absolute title under the Land
Registry Act;

(iii) a lease for a term of not less
than forty years;
(iv) an assurance issued by the
Minister under the provisions
of Section 7A(2)(c) of the New
Building Society Act in respect
of a Government Housing
Scheme or such an assurance
issued in respect of a private
housing scheme to which the
provisions of section 7A of the
said Act have been extended by
order of the Minister under
that section;
(b) the rate of interest to be charged on
the loan, such interest being not
greater than the rate charged by the
New Building Society Limited;
(c) the percentage of the loan in relation
to the value of the security, such
percentage being not less than 75% of
the estimated value of the property
when completed;
(d) a statement that in addition to the
exemption mentioned in subsection
(2) where any financial institution
under the Financial Institutions Act is
designated an approved mortgage
finance company the reserve
LAWS OF GUYANA
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c. 85:02


Exemption of
small business
lending
company of tax.
[10 of 2010]

requirement mentioned in section 41
of the Bank of Guyana Act shall,
where the Minister so approves, not
apply to such a company in relation to
the liabilities used for mortgage
financing;

(e) a statement that where an approved
mortgage finance company is in
breach of any term or condition of the
agreement the relief from taxation
and other benefits thereunder shall
cease forthwith;
(f) a requirement that the approved
mortgage finance company shall
cause proper records and accounts to
be kept in relation to the mortgage
financing transactions and such
records and accounts shall be made
available for inspection by any person
authorised by the Minister;
(g) the period in which the loan shall be
repaid, such period being not less
than twenty years in the case of low
income persons.
(4) For the purposes of subsection (1), the
expression "housing development" means such provision for
housing accommodation as may be specified in the
agreement.
15A. (1) The Minister may, by order, designate as
an approve small business lending company, any company
which has entered into an agreement with the Government in
which the Company agrees to finance small business loans in
accordance with the terms of the agreement.
LAWS OF GUYANA
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c. 85:03

c. 85:02
(2) Notwithstanding the other provisions of this Act,
there shall be exempt from tax in the manner and to the extent
as may be provide in the agreement the income of an
approved small business lending company.
(3) A copy of an agreement mentioned in subsection
(1) and (2) shall be laid before the National Assembly as soon
as practicable after the making of an order under subsection
(1).
(4) The agreement referred to in this section shall
include—
(a) a list of collateral to be accepted for
the loan; if any;
(b) the rate of interest to be charged on
the loan;
(c) a statement that in addition to the
exemption mentioned in subsection
(2) where any financial institution
under the Financial Institution Act, is
designated an approved small
business lending company the reserve
requirement mentioned in section 41
of the Bank of Guyana Act shall,
where the Minister so approves, not
apply to that company in relation to
the liabilities used for small business
loans;
(d) a statement that where an approved
small business lending company is in
breach of any terms or condition of
the agreement the relief from taxation
and other benefits under the
LAWS OF GUYANA
Income Tax Cap. 81:01 31
Deductions
allowed.
[2 of 1941
5 of 1943
26 of 1949
18 of 1951
11 of 1962
17 of 1966A
15 of 1969
6 of 1989
9 of 1991]


agreement shall cease forthwith;
(e) a requirement that the approve small
business lending company shall cause
proper records and accounts to be
kept in relation to the small business
lending transactions and the records
and accounts shall be made available
for inspection by any person
authorised by the Minister;
(f) the period in which the loans shall be
repaid.
(5) For the purpose of this section the expression
“small business loans” means loans made by small business
lending company within the contemplation of an agreement
under this section.
ASCERTAINMENT OF CHARGEABLE INCOME
16. (1) For the purpose of ascertaining the chargeable
income of any person there shall be deducted all outgoings
and expenses wholly and exclusively incurred during the
year immediately preceding the year of assessment by that
person in the production of the income, including—

(a) sums paid by the person by way of
interest upon any money borrowed
by him where the Commissioner-
General is satisfied that the interest
was payable on capital employed in
acquiring the income;

(b) rent paid by any tenant of land or
buildings occupied by him for the
purpose of acquiring the income; (c)
where any person engaged in any
L.R.O. 1/2012
LAWS OF GUYANA
32 Cap. 81:01 Income Tax
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trade, business, profession or
vocation, has expended any sum in
replacing plant or machinery which
was used or employed in that trade,
business, profession or vocation, and
has become obsolete, an amount
equivalent to the cost of the
machinery replaced, after deducting
from that cost the sum representing
the total depreciation which has
occurred by reason of exhaustion or
wear and tear since the date of
purchase of the plant and machinery
and any sum realised by the sale
thereof;
(d) any sum expended for repair of
premises, plant and machinery
employed in acquiring the income, or
for the renewal, repair or alteration
of any implement, utensil or article
so employed;
(e) bad debts incurred in any trade,
business, profession or vocation,
proved to the satisfaction of the
Commissioner-General to have
become bad during the year
immediately preceding the year of
assessment and doubtful debts to the
extent that they are respectively
estimated to the satisfaction of the
Commissioner-General to have
become bad during that year
notwithstanding that the bad or
doubtful debts were due and
payable prior to the commencement
of the year, provided that all sums
LAWS OF GUYANA
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recovered during that year on
accounts of amounts previously
written off or allowed in respect of
bad or doubtful debts be treated for
the purposes of this Act as receipts of
this trade, business, profession or
vocation for that year;
(f) annuities or other annual payments
which, subject to section 13, are
chargeable to tax in the hands of the
recipients under section 5 (d),
whether payable within or without
Guyana, either as a charge on any
property of the persons paying them
by virtue of any deed or will or
otherwise or as reservation thereout,
or as a personal debt or obligation by
virtue of a contract, provided that
deduction shall not be allowed of any
annuity or annual payment which
directly or indirectly is, or is part of an
arrangement, for any purpose in
respect of which no deduction is
allowed under section 18(a), (c), (d),
(e), (f), (g) and (h) or any other
section of this Act, and provided
further that no voluntary allowances
or payments of any description be
deducted:
(g) rates and taxes on immovable
property;
(h) premiums paid on any fire insurance
policy on property used in acquiring
the income;

LAWS OF GUYANA
34 Cap. 81:01 Income Tax
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Allowance for
wear and tear
[18 of 1951]

(i) [Deleted by 9 of 1991]
(j) such other deductions as may be
prescribed by the Minister.
(2) The Minister may, by regulations, provide for the
method of calculating or estimating the deductions allowed
or prescribed under this section.
17. (1) In ascertaining the chargeable income of any
person who carries on or exercises any trade, business,
profession or vocation there may be allowed as a deduction
such sum as the Commissioner-General may think just and
reasonable as representing the amount by which the value
of—
(a) any plant, machinery or equipment
owned by him has been diminished
by reason of wear and tear arising out
of the use or employment of such
plant, machinery or equipment in
production of the income; and
(b) any building, housing machinery
owned by him, has been
diminished by reason of wear and
tear arising out of the use or
employment of the machinery in such
building:
Provided that—
(i) where the value of any such
plant, machinery, equipment or
building has been diminished
as aforesaid and the full burden
of the wear and tear thereof
falls upon the person by whom
LAWS OF GUYANA
Income Tax Cap. 81:01 35
L.R.O. 1/2012
the trade, business, profession
or vocation is carried on, but
the plant, machinery, equip-
ment or building does not
belong to him, he shall be
entitled to the deduction to
which he would have been
entitled if the plant, machinery,
equipment or building had
belonged to him;
(ii) where the value of any such
plant, machinery, equipment or
building has been diminished
as aforesaid and the full burden
of the wear and tear thereof
falls upon the owner of such
plant, machinery, equipment,
or building, but the trade,
business, profession or vocation
is not carried on by him, he
shall be entitled to any
deduction to which he would
have been entitled if he had
carried on that trade, business,
profession or vocation; and
(iii) no deduction under this
subsection shall be allowed for
any year in excess of the
written down value of the
plant, machinery, equipment
or building housing machinery
at the commencement of that
year.
(2) In ascertaining the chargeable income of any
person who carries on or exercises any trade or business,
LAWS OF GUYANA
36 Cap. 81:01 Income Tax
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Deductions
not to be
allowed.
[26 of 1949
18 of 1951
22 of 1956
there shall be allowed as a deduction such sum as the
Commissioner-General may think just and reasonable as
representing the amount by which the value of any mine, oil
well or forest grant has been diminished by reason of
exhaustion or by way of depletion.
(3) For purposes of this section the expression
"written down value" at any date of any asset means the
remainder at that date of the capital cost of the asset
ultimately borne by the owner thereof, after the deduction
from the cost of the aggregate of the following amounts, that
is to say—
(a) where for any year a deduction for
wear and tear or exhaustion of capital
in respect of the asset has been
allowed, the total for all such years of
the deductions which have been
allowed in computing the profit or
loss for income tax purposes up to
that date;
(b) where for any year no deduction for
wear and tear or exhaustion of capital
in respect of the asset has been
allowed the total for all such years of
the deductions which would have
been allowed had this section been
in force without limitation as to the
rate at which the deduction might be
calculated from the date of
acquisition of the asset by the owner
up to that date.
18. For the purpose of ascertaining the chargeable
income of any person no deduction shall be allowed in
respect of—

LAWS OF GUYANA
Income Tax Cap. 81:01 37
L.R.O. 1/2012
11 of 1962
25 of 1962
17 of 1966A
25 of 1971
4 of 1972
6 of 1989
28 of 1991]

(a) domestic or private expenses;
(b) any disbursement or expenses not
being money wholly and exclusively
laid out or expended for the purpose
of acquiring the income;

(c) any capital withdrawn or any sum
employed or intended to be employed
as capital;

(d) any capital employed in
improvements;
(e) any sum recoverable under an
insurance or contract of indemnity;
(f) rent of or cost of repairs to any
premises or part of premises not
paid or incurred for the purpose of
producing the income;
(g) any amounts paid or payable in
respect of the United Kingdom
income tax, or super-tax, or
Commonwealth income tax;
(h) income tax, corporation tax, property
tax or any other identical or
substantially similar tax;
(i) expenses in excess of the amount
which the Commissioner-General
considers reasonable and necessary
having regard to the requirements of
the trade and business, and in the case
of directors' fees or other payments
for services to the actual services
LAWS OF GUYANA
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L.R.O. 1/2012
c. 91:02
Losses carried
forward
[11 of 1962
17 of 1966A
10 of 1985]

rendered by the persons concerned:
Provided that no deduction shall be allowed as head-
office expenses in excess of one per cent of sales or gross
income of any company (including premium income in the
case of a company carrying on in Guyana insurance business
other than long-term insurance business as defined in section
2 of the Insurance Act).

19. Where a loss is incurred in the year preceding a
year of assessment in any trade, business, profession or
vocation carried on by any person either solely or in
partnership or from the letting of property by any person
either solely or in partnership, the amount of the loss shall be
carried forward and, subject as hereinafter provided, shall be
set-off against what would otherwise have been his
chargeable income in the year or years following until it is
completely recouped:
Provided that—
(a) in computing the chargeable income
of any year of assessment, in the case
of an individual, the loss allowed to
be set-off shall not exceed the amount,
if any, of the gains or profits for the
year of assessment in respect of
each source (as specified under each
subhead of the several heads of
income in the prescribed return to be
made of the income of persons) from
which such losses have arisen;
(aa) in computing the chargeable income
of any year of assessment, in the case
of a company, the loss allowed to be
set off shall not exceed the amount, if
any, of the gains or profits for the year
LAWS OF GUYANA
Income Tax Cap. 81:01 39
L.R.O. 1/2012
of assessment in respect of each
source as specified below, from which
such losses have arisen—
(i) gains or profits from the
working or occupation or
cultivation of land of every
description;
(ii) gains or profits from any trade,
business, profession or
vocation, other than the
working or occupation or
cultivation of land;
(iii) dividends, interest or discounts
arising or accruing from any
source whatsoever in Guyana
or elsewhere;
(iv) rents, royalties, premiums and
any other profits arising from
property in Guyana or
elsewhere;
(b) the amount of loss allowed to be set-off in
computing the chargeable income of any
year shall not be set-off in computing the
chargeable income of any other year;
(c) in no case shall the set-off be allowed to an
extent which will reduce the tax payable
for any year of assessment to less than one-
half of the amount which would have been
payable had the set off not been allowed:
(d) where the income derived from part of the
trade or business of any person has been
LAWS OF GUYANA
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c. 81:02

Deductions.
[5 of 1987
6 of 1989
9 of 1991
8 of 1992
13 of 1993
3 of 1995
3 of 1996
17 of 1997
4 of 2003
9 of 2006
12 of 2007
2 of 2008
2 of 2011
4 of 2012]
Presumptive
method of
determining
exempt from Income Tax under section
2(1) (b) of the Income Tax (In Aid of
Industry) Act, and the income derived from
any other part of his trade or business is
not so exempt, the parts of the trade or
business shall be deemed to be separate
businesses for the purposes of this section.

20. Subject to this Act, in ascertaining the chargeable
income of an individual for any year of assessment there shall
be allowed a deduction of six hundred thousand dollars and
such deduction shall be apportioned according to the
individual's earning period and allowed accordingly.
21. [Repealed by Act No. 9 of 1991]
21A. [Repealed by Act No. 9 of 1991]
22. [Repealed by Act No. 9 of 1991]
23. [Repealed by Act No. 9 of 1991]
24. [Repealed by Act No. 9 of 1991]
25. [Repealed by Act No. 9 of 1991]
25A. [Repealed by Act No. 6 of 1990]
25B. [Repealed by Act No. 6 of 1990]
26. [Repealed by Act No. 9 of 1991]
27. [Repealed by Act No. 9 of 1991]
28. [Repealed by Act No. 9 of 1991]
28A. (1) The Minister may by regulations prescribe a
presumptive method of ascertaining taxable income for
LAWS OF GUYANA
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income of
certain self-
employed
individuals.
[15 of 2003]


purposes of determining liability for tax on income from self-
employment of individuals who have annual turnover from
self-employment of less than ten million dollars.

(2) Under the presumptive method, annual
taxable income for each category of self-employment shall be
fixed—

(a) using factors such as size of business
premises, number of employees,
assets used in the business, education,
training, years in practice, specialty
certification, and salaries of
comparable employed individuals;
and
(b) specifying a standard deduction
amount for each category.
(3) Tax payable under the presumptive method is
due on the first day of each tax year, although by regulations
made by the Minister the Commissioner-General may allow
tax liability to be paid in installments.
(4) The Commissioner-General may, by written
notice to a taxpayer submitting a presumptive tax return as
provided under section 60(4B) for a year, require that
taxpayer to file a regular tax return under section 60(1) with
respect to the following tax year in addition to the
presumptive return for that year.
(5) A taxpayer required under subsection (4) to file
both a regular and a presumption tax return for a year shall
be liable in respect of income from self-employment for the
higher of the presumptive tax or the regular tax, and shall be
given credit against tax due for the year for any tax paid with
respect to that year’s tax liability.

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c. 81:03

Special
Provisions
as to certain
companies.
[5 of 1932
11 of 1962
17 of 1966A
31 of 1970
25 of 1971
2 of 1978]
Mutual
Insurance
Companies
other
than Life
Insurance
Companies.
(6) Any regulations made under this section
requiring a presumptive method, may phase-in the
presumptive method, beginning with selected categories of
tax-payers and gradually extending the reach of the
presumptive regime.
(7) For the purposes of this section, “turnover”
shall have the same meaning as under section 10A of the
Corporation Tax Act.
29. Notwithstanding anything to the contrary
contained in this Act, it is hereby provided that—

(a) in the case of an Insurance Company
(other than a Life Insurance
Company) incorporated in Guyana as
a Mutual Insurance Company the
gains or profits on which tax is
payable shall be ascertained by taking
the gross premiums, interest and
other income (less any premiums
returned to the insured and
premiums paid on re-insurances) and
deducting from the balance so arrived
at a reserve at the percentage adopted
by the Company for unexpired risks
at the end of the year preceding the
year of assessment and adding thereto
a reserve similarly calculated for
unexpired risks outstanding at the
commencement of the year preceding
the year of assessment, and from the
net amount so arrived at deducting
the losses (less the amount recovered
in respect thereof under re-insurance)
the management expenses and any
interest or annual payments made by
the Company by virtue of any
LAWS OF GUYANA
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L.R.O. 1/2012
Insurance
Companies
other
than Life
Insurance
Companies.

obligation statutory or otherwise;
(b) in the case of an Insurance Company
(other than a Life Insurance
Company) where the gains or profits
accrue in part outside Guyana, the
gains or profits on which tax is
payable shall be ascertained by taking
the gross premiums and interest and
other income received or receivable in
Guyana (less any premiums returned
to the insured and premiums paid on
re-insurances), and deducting from
the balance so arrived at a reserve for
unexpired risks at the percentage
adopted by the Company in relation
to its operations as a whole for such
risks at the end of the year preceding
the year of assessment, and adding
thereto a reserve similarly calculated
for unexpired risks outstanding at
the commencement of the year
preceding the year of assessment, and
from the net amount so arrived at
deducting the actual losses (less the
amount recovered in respect thereof
under re-insurance), the agency
expenses in Guyana and a fair
proportion of the expenses of the
head office of the Company:
Provided that in the case of a company the head office
of which is outside Guyana the proportion of expenses of the
head office to be deducted in any year shall not exceed one-
half per cent of the net amount remaining after deducting
from the gross premiums received in Guyana any premiums
returned to the insured and any premiums paid on re-
insurance, unless the Commissioner-General is satisfied that a
LAWS OF GUYANA
44 Cap. 81:01 Income Tax
L.R.O. 1/2012
Life Insurance
Companies
c. 91:02

higher allowance is reasonable in the circumstances;
(c) In the case of a company carrying on a
long term insurance business as
defined in section 2 of the Insurance
Act, the gains or profits on which tax
is chargeable shall be the income
accruing from the investment of its
statutory fund as mentioned in
section 23 (1) of that Act where the
company is registered under that Act,
or its life assurance fund where the
company is not so registered, less the
amount allowed as expenses in
earning that income as provided in
subsection (d):
Provided that where the company is not so registered
and received premiums outside Guyana, the gains or profits
shall be the same proportion of the total income of the
company accruing from investment as aforementioned as the
premiums received in Guyana bore to the total premiums
received;
(d) the amount allowed for expenses incurred in
respect of income from investment aforesaid
shall be—

(i) twenty per cent of the said income of
the company for the year of
assessment commencing 1st January,
1970;
(ii) sixteen per cent of the said income of
the company for the year of
assessment commencing 1st January,
1971;

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Income Tax Cap. 81:01 45
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Profits of non-
resident
ship owner.
[11 of 1962]



(iii) twelve per cent for every year of
assessment thereafter.
30. (1) Where for any period a person not resident in
Guyana who carried on the business of ship owner produces
the certificate mentioned in subsection (2), the gains or profits
accruing in Guyana from his business as ship owner for such
period before deducting any allowance for wear and tear shall
be taken to be a sum bearing the same ratio to the sums
receivable in respect of the carriage of passengers, mails,
livestock and goods shipped in Guyana as his total profits for
the relevant accounting period shown by that certificate bear
to the total sums receivable by him in respect of the carriage
of passengers, mails, livestock and goods.
(2) The certificate shall be one issued by or on
behalf of the principal income tax authority of the district or
place in which the principal place of business of the ship
owner is situate and with regard to which authority the
Commissioner-General is satisfied that it computes and
assesses the full profits of the non-resident person from his
shipping business on a basis not materially different from that
prescribed by this Act and shall certify for the relevant
accounting period as regards such business—
(a) that the ship owner has furnished to
the satisfaction of that authority an
account of the whole of his business;

(b) the ratio of the gains or profits or,
where there are no profits, of the
loss, as computed for the purposes of
income tax by that authority
according to the income tax law of
that place, without making any
allowance by way of depreciation,
but after deducting interest on any
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money borrowed and employed in
acquiring the gains and profits, to
the total sums receivable in respect of
the carriage of passengers, mails,
livestock or goods; and
(c) the ratio of the allowance for wear
and tear as computed by that
authority to the total sums receivable
in respect of the carriage of
passengers, mails, livestock and
goods.
(3) Where at the time of assessment subsection (1)
cannot for any reason be satisfactorily applied, the gains or
profits accruing in Guyana may be computed on a fair
percentage of the full sum receivable on account of the
carriage of passengers, mails, livestock and goods shipped in
Guyana:
Provided that where any person has been assessed for
any year of assessment by reference to such percentage, he
shall be entitled to claim at any time within five years after
the end of such year of assessment that his liability to tax for
that year of assessment be recomputed on the basis provided
by subsection (1); and where such a claim has been made and
certificate has been produced to the satisfaction of the
Commissioner-General, as provided for in subsections (1) and
(2), such repayment of tax shall be made as may be necessary
to give effect to this proviso, save that, if the claimant fails to
agree with the Commissioner-General as to the amount of tax
to be so recomputed and repaid, the Commissioner-General
shall give him notice of refusal to admit the claim and the
provisions of this Act relating to appeals against assessments
made by the Commissioner-General shall apply accordingly
with the necessary modifications.
(4) Where the Commissioner-General decides that
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Income Tax Cap. 81:01 47
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Profits of non-
resident’s air
transport and
cable
undertakings.
[11 of 1962]



Special pro-
visions as to
gold or
diamond
mining
the call of a ship belonging to a particular non-resident ship-
owner at a port in Guyana is casual and that further calls by
that ship or others in the same ownership are improbable,
this section shall not apply to the profits of such ship and no
tax shall be chargeable thereon.
(5) Gains or profits arising from the business of
shipping carried on by a person not resident in Guyana shall
be exempted from the tax provided that the Minister is
satisfied that an equivalent exemption from income tax is
granted by the country in which such person is resident to
persons resident in Guyana and, if that country is a country
other than the United Kingdom, to persons resident in the
United Kingdom.
(6) For the purposes of this section a company shall
be deemed to be resident in that country in which the central
management and control of its business is situate.
(7) In this section the expressions: "ship owner"
means an owner or charterer of any ship or ships, and
"business of shipping" means the business carried on by an
owner of ships and for the purposes of this definition the
expression "owner" includes any charterer.
31. Where a person not resident in Guyana carries on
the business of air transport or the business of transmission of
messages by cable or by any form of wireless apparatus he
shall be assessable to tax as if he were a non-resident ship
owner and section 30 shall apply mutatis mutandis to the
computation of the gains or profits of such business, subject to
any adjustment as in the opinion of the Commissioner-
General may be just and reasonable.

32. Notwithstanding anything to the contrary
contained in this Act, it is hereby provided that in
ascertaining the chargeable income of a gold or diamond
mining company there shall be allowed in respect of
LAWS OF GUYANA
48 Cap. 81:01 Income Tax
L.R.O. 1/2012
companies
[3 of 1949
7 of 1970
4 of 1972]

Allowances of
trade loss to
gold or
diamond
mining
companies.
[3 of 1949
17 of 1966A]
Certain
provisions
inapplicable
in ascer-
taining
chargeable
income from
petroleum
operations,
[4 of 1986]
Petroleum
capital
expenditure
allowance.
[4 of 1986]

expenditure on exploration and development, and for the
exhaustion, wear and tear of property, deductions computed
in accordance with regulations which the Minister, subject to
negative resolution of the National Assembly, may make for
that purpose.

33. Where a gold or diamond mining company incurs
a loss in the year preceding a year of assessment such loss
shall be carried forward and set off against what would
otherwise have been chargeable income in the year or years
following the year in which such loss was incurred until it is
completely recouped.

33A. Notwithstanding anything to the contrary
contained in this Act—
(a) in ascertaining the chargeable income, from
petroleum operations, of any person
engaged in the business of carrying on such
operations, sections 16(1)(c) and 17 shall not
apply; and
(b) for the purpose of carrying forward, and
allowing set-off, of loss incurred in
petroleum operations by any person
engaged in the business of carrying on such
operations under section 19, paragraph (c)
of the proviso thereto shall not apply.

33B. (1) In this section—

"petroleum capital expenditure" means—

(a) expenditure incurred in or on searching for
and discovering petroleum and ascertaining
and testing the extent and characteristics
thereof, including expenditure incurred
for—
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(i) geological, geophysical, geochemical,
aerial, magnetic and other surveys
and all analyses, interpretation and
studies thereof;
(ii) drilling of shot holes, core holes, bore
holes and holes for the discovery and
delineation of petroleum reservoirs;
(iii) appraisal of surveys and drilling
including the drilling and testing of
appraisal wells and all reservoir
studies;
(iv) acquisition of petroleum information;
(b) expenditure incurred in or on—

(i) the acquisition of a petroleum licence
or the acquisition of any participating
interest in a petroleum licence, or the
acquisition of rights, or a participating
interest in rights under a
petroleum contract made with the
holder of a petroleum licence, but not
including any expenditure incurred in
or after the year of
commencement in or on the
acquisition of any such interest or
right from a person who is
carrying on production of petroleum
under a programme of continuous
production and sale;
(ii) the provision of machinery or the
acquisition of any right to use
machinery for petroleum operations;
LAWS OF GUYANA
50 Cap. 81:01 Income Tax
L.R.O. 1/2012
(iii) the construction of any building or
works, including expenditure
incurred in or on any payment for or
contribution to the cost of
providing—
(A) water, light or power for use
on;
(B) access to; or
(C) communication with, any site
for the conduct of petroleum
operations; or
(iv) the provision of residential
accommodation and welfare facilities
for employees employed for the
purposes of petroleum operations;
(v) the provision of any vehicles or office
equipment, furniture or machinery in
connection with the carrying on of
petroleum operations;
(c) any expenditure incurred in or on—
(i) preparing a site for petroleum
production, including delineation
work and feasibility studies done to
determine the best means of
operation;
(ii) the intangible costs of preparing for
and drilling production wells, such
costs including, by way of example
only, all costs of labour, fuel,
LAWS OF GUYANA
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L.R.O. 1/2012
repairs, hauling and supplies and
materials without salvage value,
incurred in—
(A) drilling, shooting and cleaning
wells;
(B) clearing and draining ground,
road making, surveying and
other preparations for drilling;
or
(C) constructing and erecting
drilling rig, drilling and
producing platform, tank,
pipeline and other plant,
machinery or equipment
necessary for producing
petroleum;
(d) any expenditure incurred prior to the year
of commencement in or on—
(i) general administration and
management directly connected with
petroleum operations;
(ii) any interest accrued on any loan
taken by the assessee and for the time
being utilised to finance petroleum
operations; "petroleum information"
means geological, geophysical and
technical information, being
information that relates to the
presence, absence or extent of
deposits of petroleum in an area, or is
likely to be of assistance in
determining the presence, absence or
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L.R.O. 1/2012
c. 65:04
extent of such deposits;
"petroleum production licence" means a petroleum
production licence granted under Part IV of the
Petroleum (Exploration and Production) Act;
"production area" has the meaning assigned to it by the
Petroleum (Exploration and Production) Act;
"year of commencement", in relation to any production area,
means the year of assessment in which any person,
carrying on petroleum operations in that area, first
produces petroleum therefrom under a programme of
continuous production and sale.
(2) In ascertaining the chargeable income, from
petroleum operations, of any person engaged in the business
of carrying on such operations (hereinafter referred to as the
petroleum assessee), there shall be allowed as a deduction an
allowance to be known as petroleum capital expenditure
allowance, which shall be—
(a) for the year of assessment being the
year of commencement, the deduction
that shall be allowed under subsection
(3); and
(b) for any year of assessment subsequent
to the year of commencement, the
aggregate sum of any deductions,
that shall be allowed under
subsections (3) and (5).
(3) In the year of assessment which is the year of
commencement, and in every subsequent year of assessment,
until the aggregate sum of the petroleum capital expenditure
incurred by a petroleum assessee in the years preceding the
year of commencement is completely recouped, there shall be
allowed as a deduction, by way of petroleum capital
LAWS OF GUYANA
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L.R.O. 1/2012
expenditure allowance, twenty per cent, or such lower per
cent as the assessee may elect, of the aforesaid aggregate sum
of the petroleum capital expenditure.
(4) Where in or before the year immediately
preceding the year of commencement any amount has been
received by a petroleum assessee as consideration for the
assignment by him of the whole or part of his interest in a
petroleum licence or rights under a petroleum contract, for
the purposes of subsection (3) the aggregate sum of the
petroleum capital expenditure incurred by such assessee in
the years preceding the year of commencement shall be
reduced by the amount so received by the petroleum assessee.
(5) Where in the year, immediately preceding any
year of assessment subsequent to the year of commencement,
a petroleum assessee has incurred any petroleum capital
expenditure, in that year of assessment and in every
subsequent year of assessment, until such petroleum capital
expenditure is completely recouped, there shall be allowed
as a deduction by way of petroleum capital expenditure
allowance twenty per cent, or such lower per cent as the
assessee has elected for the purpose of subsection (3) of such
petroleum capital expenditure.
(6) Notwithstanding anything to the contrary
contained in the preceding subsections, where in the year,
immediately preceding any year of assessment subsequent to
the year of commencement, a petroleum assessee has
assigned the whole or part of his interest in a petroleum
licence or rights under a petroleum contract—
(a) the petroleum capital expenditure
allowance deductible, under the
provisions of this section, in that year
of assessment, and subsequent years
of assessment, on account of
petroleum capital expenditure
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54 Cap. 81:01 Income Tax
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Export
allowance .
incurred by that petroleum assessee
in the year in which the assignment
is made and in any years prior thereto
shall be reduced in proportion to the
extent to which the interest of the
assignor in the petroleum licence or
the rights of the assignor in the
petroleum contract has been
assigned; and
(b) any petroleum capital expenditure
allowance to which the assignee
would otherwise have been entitled in
any year of assessment, in respect of
petroleum capital expenditure
incurred by the assignee in the year in
which the assignment was made, or in
any subsequent year, shall be
increased by an amount equal to the
amount by which the petroleum
capital expenditure allowance of the
assignor for the corresponding year of
assessment has been reduced
pursuant to paragraph (a).
(7) Where in ascertaining the chargeable income of
a petroleum assessee a deduction by way of petroleum
capital expenditure allowance was made under this section in
any year of assessment, then, in ascertaining the chargeable
income of that petroleum assessee in respect of the same or
any previous or subsequent year of assessment, to the extent
to which such deduction was made, no further deduction
shall be made under any other provision of this Act in
respect of the petroleum capital expenditure in respect of
which such petroleum capital expenditure allowance was
allowed to be deducted.
33C. (1) Subject to subsection (2) where during a year
LAWS OF GUYANA
Income Tax Cap. 81:01 55
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[11 of 1988]

Fifth Schedule.
Fifth Schedule.

Land
Development
Expenditure
allowance.
[11 of 1988]
of income a company registered in Guyana has made export
sales, either directly or through any other person to any
country of manufactured or processed product or any
product of agriculture, in ascertaining the chargeable profits
of the company for that year of income, a deduction or export
allowance shall be allowed to the extent specified in Part I of
the Fifth Schedule.

(2) Subsection (1) applies to all export sales of the
products, except—
(a) export sales made to a country
specified in Part II of the Fifth
Schedule;
(b) export sales of products specified in
Part III of the Fifth Schedule.

(3) The Minister may by order amend the Fifth
Schedule.
33D. (1) Notwithstanding anything to the contrary in
this Act, in ascertaining the chargeable income, in any year of
income of any person, being a person owning or in possession
of any land used or capable of being used for the purpose of
agriculture there shall be allowed, subject to this section, as a
deduction in the manner provided in subsection (2) all
expenditure incurred in that year by that person for the
purpose of development of any land for bringing it under
cultivation by him or improving any land under his
cultivation.
(2) For the purposes of subsection (1) one-tenth of
the expenditure shall be allowed as a deduction in the year
of income in which it was incurred, the balance being
allowed by equal instalments in each succeeding year of
income in the following nine years.

LAWS OF GUYANA
56 Cap. 81:01 Income Tax
L.R.O. 1/2012
(3) In this section expenditure incurred in the
development of land or improvement of land means capital
expenditure incurred for the purpose of—
(i) destruction and removal of
timber, shrub or undergrowth
indigenous to the land;

(ii) eradication or extermination of
animal or vegetable pests from
land;

(iii) destruction of weed or plant
growth detrimental to the
land;
(iv) preparation of land for
agriculture, e.g. bulldozing,
etc.;
(v) ploughing and grassing land
for grazing purposes;
(vi) draining of swamp or low-lying
land where the operation
improves the agriculture or
grazing value of the land;
(vii) preventing or combating soil
erosion or flooding of land;
(viii) providing water-conveying and
conservation by dams,
irrigation channels and wells
for use in carrying on primary
production on land;
(ix) construction of access roads
LAWS OF GUYANA
Income Tax Cap. 81:01 57
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Special
provisions
for individual
operators in
gold and
diamond
mining
Industry
[11 of 1988
12 of 1981]
and aeroplane landing strips to
facilitate aerial top-dressing of
land;
(x) erection on land of fences for
the protection of crops,
livestock and other products;
(xi) construction of earth-works,
ponds and making similar
improvements on land;
(xii) expenditure for such other
activities relating to the
development of land as may be
prescribed by the Minister by
regulations.
(4) Any expenditure for the development of any
land for the purpose of bringing it under cultivation or for
the improvement of any land under cultivation by any
person, being the owner of the land, in accordance with law,
incurred by him in any year of income shall, notwithstanding
that he is not the person in possession of the land, be allowed
as a deduction in ascertaining the chargeable income of that
person in that year of income, if the other conditions of this
section are satisfied.
33E. (1) There shall be levied and paid income tax (in
this section referred to as gold or diamond withholding tax,
as the case may be) as follows—

(a) in the case of gold, at the rate of two
percent of the gross proceeds realised
from every sale to the Central
Authority;
(b) in the case of diamond, at the rate of
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c. 66:01
c. 66:02
two percent on the value placed by
the Central Authority on the amount
declared by any individual, whether
wholly owned by that individual or
by him jointly with others or in
partnership with others.
(2) The tax under subsection (1) shall be collected
in respect of each transaction and remitted to the
Commissioner-General by the Central Authority at the end of
each calendar month, and on the payment thereof the
Commissioner-General shall send to the Central Authority a
receipt which shall, to the extent of the amount referred to
therein, be a good and sufficient discharge of the liability of
the Central Authority for any amount collected as required by
the provisions of this section.
(3) The Central Authority for the purposes of
subsection (2) shall be—
(a) in the case of gold, the Guyana Gold
Board, established under section 3 of
the Gold Board Act.
(b) in the case of diamonds, the Guyana
Geology and Mines Commission,
established under section 3 of the
Guyana Geology and Mines
Commission Act or such other
authority as the Minister may by
order prescribe, and notwithstanding
anything contained in that Act the
aforesaid Commission shall have
power to exercise the functions
conferred by this section on the
Central Authority.
(4) Notwithstanding section 5, where withholding
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Special
provisions
for deduction
and payment
of emoluments to tributor.
[11 of 1988]


tax has been collected under subsection (1) income received
consequent upon the sale of the gold or diamond shall not be
taken into account in ascertaining the chargeable income of
the person or any of the persons, as the case may be, who
owned the gold or diamond.
(5) Nothing in this section shall be construed as
exempting a gold or diamond miner from the requirement to
keep adequate records of his income from mining operations.
(6) All remittances to the Commissioner-General
under subsection (2) shall be accompanied by such form as
may be determined by the Commissioner-General, duly
completed by the Central Authority.
(7) A person who fails to deduct, account for or
pay over withholding tax to the Commissioner-General shall
be guilty of an offence under this section and the provisions
of section 93(4) shall mutatis mutandis apply.
(8) In this section "gold" has the same meaning as
in section 2 of the Guyana Gold Board Act.
33F. (1) Where on or after the commencement of this
section any payment of emoluments is made by an employer
to a tributor in relation to his employment as a tributor by the
employer, the employer shall deduct or withhold tax at the
rate of ten percent of the gross amount of such payment and
shall account for and pay over the tax to the Commissioner-
General on or before 1st April, 1st July, 1st October and 31st
December, respectively, in each year of income.
(2) The Commissioner-General shall give the
employer a receipt on the official form for the total amount
paid in accordance with the provisions of subsection (1),
which shall be a good and sufficient discharge of the liability
of the employer for the amount deducted and withheld as
required by this section.
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60 Cap. 81:01 Income Tax
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(3) All remittances or payments of taxes deducted
and withheld under subsection (1) to the Commissioner-
General shall be accompanied by such forms as may be
determined by the Commissioner-General duly completed by
the employer.
(4) After the end of the year, on or before the
prescribed date for the delivery of returns to be delivered to
the Commissioner-General under section 61 (2), (3) and (4),
the employer shall give every tributor from whose
emoluments he was liable to deduct and withhold tax a
certificate in such form as the Commissioner-General may
determine showing the total amount of the emoluments paid
by the employer and the total tax deducted from the
emoluments.
(5) In the return to be delivered to the
Commissioner-General under section 61 (2), (3) and (4) the
employer shall furnish in respect of each tributor to whom he
made payments of emoluments the total amount of the
emoluments paid by him to each such tributor during the
year, and the amount of tax deducted by him from the
emoluments.
(6) If the tax payable under the assessment exceeds
the total tax deducted from any tributor's emoluments during
the year of assessment, the difference shall be payable by such
tributor to the Commissioner-General within thirty days after
service of a notice of assessment under section 78.
(7) If the tax payable under the assessment is less
than the tax deducted from any tributor's emoluments during
the year of assessment the Commissioner-General shall repay
the difference to such tributor in accordance with section 107.
(8) Every employer, when called upon to do so by
the Commissioner-General or any officer authorised by him,
LAWS OF GUYANA
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Income of
painter,
sculptor,
author.
[6 of l989]
shall produce to the Commissioner-General or that officer
for inspection at the employer's premises, or the office of the
Commissioner-General, as the employer may be required to
do, all wages sheets and other documents and records
whatsoever relating to the calculation or payment of the
emoluments of his tributors or the deduction of tax therefrom.
(9) Income Tax in respect of all emoluments paid to
a tributor may be assessed and charged by the Commissioner-
General, who for that purpose may exercise all the powers
under this Act.
(10) Any tax which is payable to the
Commissioner-General by a tributor under this section may
be recovered in accordance with this Act.
(11) The provisions of section 93, in so far as they
are not inconsistent with the provisions of this section shall,
with such adaptations or modifications as are necessary or
expedient, apply to this section.
(12) Notwithstanding anything in this Act, the
Income Tax (Deduction of Tax from Emoluments) Regulations
shall not apply to tributors.
(13) In this section "tributor" means persons
engaged in the gold or diamond mining industry who are
rewarded for their labour under the tribute system, and
includes divers, cooks, sailors, general managers, or persons
engaged in site operations.
33G. Notwithstanding section 5(a), where a painter,
sculptor or author obtains any sum for the sale of his work in
the production of which he was engaged for a period of—

(a) more than one year but not more than
two years, the income from the sale
of such work shall be taxed, one-half
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Charge of
wife 's income
to tax
[5 of 1987
9 of 1991]

in the year of receipt of the income
and the other one-half in the year
preceding the year of receipt of the
income;
(b) more than two years, the income from
the sale of such work shall be taxed,
one-third in the year of receipt of the
income and one-third in each of the
two years preceding the year of
receipt of the income.
34. (1) The income of a married woman living with
her husband shall be charged as of an individual in her name.
(2) [Deleted by Act No. 9 of 1991]
(3) [Deleted by 9 Act No. of 1991]
(4) Where any income of a wife living with her
husband arises or accrues to her from or in respect of any
trade, business, profession, office employment or vocation
carried on or exercised—
(a) by her husband; or
(b) by a close company; or
(c) jointly by her husband and any
partner of his including herself, then
such income shall be treated for the
purposes of subsection (1) as the
income of the wife only if, when and
to the extent in respect of which—
(i) she or her husband satisfies the
Commissioner-General that it is
commensurate with work done
by the wife wholly and
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c. 81:03
Reputed wife's
income.
[9 of 1991]

exclusively with the object of
enabling her husband, the close
company or the partners, as the
case may be, to make a profit;
and

(ii) the Commissioner-General
notifies both the husband and
the wife in writing that he is so
satisfied.
(5) Subsection (4) shall as it applies to any income
in relation to a wife mutatis mutandis apply to any income in
relation to a husband.
(6) In subsection (4) (b) "close company" has the
same meaning as in the Schedule to the Corporation Tax Act.
(7) Where any income arises or accrues in any of
the circumstances mentioned in subsection (4) or (5)—
(a) the wife; and
(b) her husband, the close company or
the partners, as the case may be,
shall deliver or cause to be delivered to the Commissioner-
General, not later than 31st day of March in the year next
following that in which the income arose or accrued, a written
notice stating that the income arose or accrued in such
circumstances and any person who fails to comply with this
subsection shall be guilty of an offence against this Act.
34A. [Repealed by Act No. 9 of 1991]
34B. Section 34 shall mutatis mutandis apply in the case
of a reputed wife living with her reputed husband where the
reputed husband has no wife living with and maintained by
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Allowance in
respect of
donations to
Government
or national or
international
institutions or
organisations.
[20 of 1968
4 of 1972
11 of 1983
9 of 1991]

Deductions,
exemptions
and additions
in relation to
approved
savings
schemes.
him.

35. (1) In ascertaining the chargeable income of any
person (other than an individual) who has, during the year
preceding the year of assessment, donated any sum of money
or other property held by that person for the sale in the
ordinary course of business, to the Government of Guyana for
public purposes, or to any prescribed institution or
organisation of a national or international character in
Guyana or elsewhere, there shall be deducted from the
amount of the income of that person ascertained apart from
this subsection (whether so ascertainable in conformity with
section 29 or otherwise) so much thereof as is not in excess of
the amount of money or the value of the other property,
donated as aforesaid.
(2) The prescription during any year of an
institution or organisation under subsection (1) shall have
effect from such day, not earlier than the commencement of
that year, as may be prescribed, and shall apply in relation to
all such donations as aforesaid to that institution or
organisation, as the case may be, being donations made
while the prescription is in force.
(3) For the purposes of subsection (1) the value of
property shall be the cost to the donor on acquisition or the
market value thereof whichever is the less, and for the
purposes of this subsection, "market value" means the price
which could reasonably have been obtained for the property
in the open market on the date on which the property was
donated.
35A. (1) [Deleted by Act No. 9 of 1991]
(2) Where any person, (other than an individual)
engaged in any trade, business, profession or vocation has
opened an account in the name of any of his employees in an
approved Savings Scheme and has in the year preceding any
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[9 of 1991]


year of assessment deposited any sums in such account—
(a) in ascertaining the chargeable income
of that person from the trade,
business, profession or vocation for
that year of assessment there shall
be allowed a deduction of the
aggregate of the sums deposited by
him in the aforesaid account in the
year preceding that year of
assessment;
(b) subject to the other provisions of this
section, the employee shall not be
liable to pay the tax, in respect of the
sums so deposited, either in the year
of assessment following the year in
which such sums were deposited or
in the year of assessment following
the year in which he received the
whole or part of the sums so
deposited on the maturity of the
approved Savings Scheme or in any
other year of assessment.
(3) The interest which accrued due to any
individual during any year on the amount to his credit in any
approved Savings Scheme shall be exempt from the tax.
(4) Where the whole or part of the amount to the
credit of any individual in the account in his name in any
approved Savings Scheme is withdrawn by that individual
during the continuance of the scheme and before the expiry of
the period for which he was required by the Scheme to
maintain the account for receiving full benefits thereunder,
the amount so withdrawn shall, for the purposes of this Act,
be deemed to be the income of that individual in the year in
which the amount is withdrawn.
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Rates of tax.
[12 of 1973
3 of 1982
11 of 1983
5 of l987
6 of 1989
9 of 1991
13 of 1993
17 of 1997
4 of 2003
9 of 2006]
Minimum tax
on
self-employed
professionals.
[15 of 2003]
(5) In this section "approved Savings Scheme" has
the same meaning as in the Saving Scheme Act.
RATE OF TAX

36. The tax upon the chargeable income of every
person, other than a company, shall be at the rate of thirty
three and one third per cent.
37. [Repealed by Act No. 28 of 1991]

37A. (1) Self-employed individuals whose turnover
from the performance of services exceeds the threshold
specified in section 28A(1) shall pay a minimum tax in respect
of income from the performance of services in lieu of the
regular income tax in circumstances specified in subsection
(3).

(2) The minimum tax is equal to two percent of
annual turnover arising from self-employment in the
performance of services.

(3) Liability for minimum tax is imposed only if
the amount of income tax payable for a year is less than the
amount of the minimum tax computed for the year, and is
payable at the same time and subject to the same procedures
as regular income tax liability.
(4) The Minister may by regulations phase-in the
application of the minimum tax imposed under this section,
beginning with selected categories of taxpayers and gradually
extending the reach of the minimum tax regime.

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Meaning of
distribution
[31 of 1970
25 of 1971]

(5) For the purposes of this section “turnover”
shall have the same meaning as in section 28A.
38. (1) In relation to any company "distribution"
means—
(a) any dividend paid by the company
including a capital dividend;
(b) any other distribution of the assets of
the company (whether in cash or
otherwise) in respect of the shares of
the company, except so much as
represents the repayment of share
capital, or is equal in amount or
value to any new consideration given
on the distribution;
(c) any redeemable share capital or
security issued by the company in
respect of shares in the company to
the extent that such share capital or
security is not issued for a new
consideration;
(d) any interest or other distributions out
of assets of the company in respect of
securities of the company (except so
much of any, of any such distribution
as represents the principal thereby
secured), where the securities are
either—
(i) securities issued as mentioned
in paragraph (c);
(ii) securities convertible directly
or indirectly into shares of the
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company;
(iii) securities under which a
consideration given by the
company for the use of the
principal secured is to any
extent dependent on the result
of the company's business or
any part of it, under which the
consideration so given
represents more than a
reasonable commercial return
on the use of that principal; or
(iv) securities issued by the
company to a non-resident
company, where the former is a
subsidiary of the latter or both
are subsidiaries of a third
company;
(e) any such amount as is required to be
treated as a distribution by subsection
(2) or (3).
(2) Where on a transfer of assets or liabilities by a
company to its members or to a company by its members the
amount or value of the benefit received by a member (taken
according to its market value) exceeds the amount of value
(so taken) of any new consideration given by him, the
company shall be treated as making a distribution to him of
an amount equal to the difference.
(3) Where, after the first day of January, 1969 a
company—

(a) repays any share capital, or has done
so at any time after the
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commencement of the accounting
period for the year of assessment
1970, and
(b) at or after the enactment of this
section issues as paid up otherwise
than by receipt of a new consideration
any share capital, not being
redeemable share capital, the
amount so paid up shall be treated as
a distribution made in respect of the
shares on which it is paid up, except
in so far as that amount exceeds the
amount or aggregate amount of share
capital so repaid less any amounts
previously so paid up and treated by
virtue of this subsection as a
distribution.
(4) Where—
(a) a company issues any share capital as
paid up otherwise than by the receipt
of new consideration, and has done
so after the enactment of this section;
and
(b) any amount so paid up does not fall
to be treated as a distribution, then for
the purposes of subsections (1) to (3),
distributions afterwards made by the
company in respect of shares
representing that share capital shall
not be treated as repayments of share
capital, except to the extent to which
those distributions, together with any
relevant distributions previously so
made, exceed the amounts so paid up
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(then or previously) on such shares
after that date and not falling to be
treated as distributions.
(5) In subsection (4) "relevant distributions" means
so much of any distribution made in respect of shares
representing the relevant share capital as apart from that
subsection would be treated as a repayment of share capital,
but by virtue of that subsection cannot be so treated.
(6) For the purposes of subsections (4) and (5) all
shares of the same class shall be treated as representing the
same share capital, and where shares are issued in respect of
other shares, or are directly or indirectly converted into or
exchanged for other shares, all such shares shall be treated as
representing the same share capital.
(7) In this section "new consideration" means
consideration not provided directly or indirectly out of
assets of the company, and in particular does not include
amounts retained by the company by way of capitalising a
distribution, so, however, that where share capital, has been
issued at a premium representing new consideration, any part
of that premium afterwards applied in paying up the share
capital shall be treated as new consideration also for that
share capital.
(8) A distribution shall be treated under this
section as made, or consideration as provided, out of assets
of a company if the cost falls on the company.
(9) The following kinds of expenditure when paid
by a close company to a participator shall be treated as
distributions—
(a) interest, or other consideration paid
or given by the company to a
participator who is also a director
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Rates of
withholding
tax .
[31 of 1970
25 of 1971
2 of 1978
11 of 1983
5 of 1987
Y.A. 1978
5 of 1987
9 of 1991
28 of 1991
16 of 1994
3 of 1995
3 of 1996
6 of 2000
15 of 2003]

(other than a whole-time service
director) or an associate of such
participator for the use of money
advanced by any person, or to a
person who is an associate of such
director for the use of money so
advanced;
(b) any annuity or other annual payment
other than interest;
(c) any rent, royalty or other
consideration paid for the use of
property other than money.
(10) For the purposes of subsection (9) ( c) in the
case of tangible property or copyrights, the excess only over
what the Commissioner-General may consider to be
reasonable consideration therefor, shall be treated as a
distribution.
39. (1) There shall be levied and paid income tax (in
this Act referred to as withholding tax) at the rate set out in
the Third Schedule—

(a) on any gross distribution made to any
person not resident in Guyana.

(b) on any gross payment not being
interest referred to in paragraphs (c),
(d) and (e) made to any person not
resident in Guyana or to any person
on behalf of such non-resident
person, where such person is not
engaged in trade or business in
Guyana, so, however, that in the case
of payment of income arising outside
Guyana to such a person withholding
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tax shall not be payable.
(c) on gross payment, being interest
earned on savings accounts held at
commercial banks and other financial
institutions by any person whether
resident in Guyana or not.
(d) on gross payment, being interest
earned on loans secured by bonds
and similar instruments by any
person whether resident in Guyana
or not;
(e) on every discount earned on treasury
bills by the person who discounts the
bill whether on or before maturity.
(2) Where, after the enactment of this section, a
person makes any payment or distribution to any such
person as is mentioned in subsection (1), the person shall
under this subsection, within thirty days, account for and pay
over withholding tax in respect of the payment or
distribution aforesaid at the rate referred to in subsection (1):
Provided that where the gross payment is of the
nature of expenses as mentioned in section 29(d), the amount
of tax to be withheld from the aggregate of such payments in
any year shall be equal to the tax which would be payable in
respect of the aggregate sum allowed the company under
that section for the year.
(3) Where the payment or distribution is made to a
person who is not resident in Guyana and such person is
resident in a country with which there is a double taxation
agreement or Order under section 91, the person making the
payment shall, nevertheless, deduct tax at the rate specified
in the Third Schedule unless the person making the payments
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satisfies the Commissioner- General that a reduced rate of
withholding tax applies under or by virtue of the double
taxation agreement, or Order under section 91.
(4) [Deleted by Act No. 28 of 1991]
(5) A person liable under subsection (2) to account
for and pay over withholding tax to the Commissioner-
General who fails so to do shall be guilty of an offence, and
section 93(4) applies accordingly.
(6) Notwithstanding section 5—

(a) where a distribution that is subject to
withholding tax is made to any
person not resident in Guyana or to a
company resident in Guyana; or
(b) where a payment is subject to
withholding tax, income tax under
section 5 or corporation tax shall not
be payable in respect of such
distribution or payment.
(7) Where an office or a branch or agency of any non-
resident company engaged in trade or business in Guyana,
remits or is deemed to remit any part of the profits of such
non-resident company accruing in or derived from Guyana,
such office or branch or agency of the non-resident company
shall be liable to account for and pay over withholding tax in
respect of such profits in accordance with the provisions of
this section as if remitting of such profits was a distribution.
(8) For the purpose of subsection (7) an office or
agency of a non-resident company shall be deemed to have
remitted all the profits thereof, except to the extent that the
office or the branch or agency has reinvested to the
satisfaction of the Commissioner-General such profits or any
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c. 81:03
part thereof in Guyana, other than in the replacement of fixed
assets, or in securities held for a period of less than thirteen
months.
(9) In subsections (7) and (8) "profits" mean profit
after the payment of any corporation tax.
(10) The Minister may by directions in writing
reduce the rate of withholding tax on any distribution or
payment for the purpose of giving effect to any agreement
relating to tax between the Government and any person not
resident in Guyana and the Commissioner-General may by
notice in writing to that person by whom those payments are
to be made sanction his complying with such reduction in the
rate of withholding tax to such extent as the Minister shall
decide and any deductions made in pursuance of this
subsection shall be deemed for the purposes of the foregoing
provisions of this section to be in accordance with the
requirements thereof in question.
(11) (a) [Deleted by Act No. 3 of 1996]
(b) [Deleted by Act No. 3 of 1996]
(c) Without prejudice to any other
provisions of this Act or any written
law, income earned by commercial
banks on treasury bills and on gross
payments, being interest earned on
loans secured by bonds and similar
instruments, shall be exempted from
the provisions of this section.

(d) [Deleted by Act No. 3 of 1996]
(12) Where a person is exempt from corporation
tax under section 7 of the Corporation Tax Act that person
shall also be exempt from withholding tax under this Act.
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Meaning of
"payment"
[31 of 1970]

40. In sections 38 to 44 (inclusive), "payment" means a
payment without any deductions whatsoever other than a
distribution, not being a payment to which section 93 applies,
with respect to—
(a) interest on any debt, mortgage or
other security;
(b) rentals;
(c) royalties;
(d) management charges or charges for
the provision of personal services and
technical managerial skills;
(e) premiums (other than premiums paid
to insurance companies and
contributions to pension funds and
schemes) commissions, fees and
licences;
(f) discounts, annuities or other annual
or periodic payments;
(g) such other payment as may, from
time to time be prescribed; but does
not include—
(i) interest paid by any person on
a temporary bank loan or in
respect of any trade account; or
(ii) any payment made after 1st
January, 1969, in respect of a
loan made to a company prior
to 1st January, 1969, and which
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Discharge of
liability for
withholding
tax.
[31 of 1970]

Certificate for
deduction of
tax.
[31 of 1970
25 of 1971]


Tax deducted
from a
distribution or
dividend to be
set off against
tax of
shareholders
prior to that date was treated in
its accounts by the company
or according to the conditions
subject to which the loan was
made, as a loan free of interest.
41. (1) [Deleted by Act No. 16 of 1994]
(2) [Deleted by Act No. 16 of 1994]
42. [Deleted by Act No. 16 of 1994]
43. Where a person is liable under section 39 to
account for withholding tax deducted or withheld in respect
of any payment or distribution made by that person, the
person shall as against any person entitled to the payment or
distribution, be acquitted and discharged of so much money
as is represented by the withholding tax as if that sum had
actually been paid.
44. (1) Where, after the enactment of this section a
person makes any payments or distribution which is subject
to withholding tax, the payer shall furnish to the recipient of
the payment or distribution a statement in writing showing
the gross amount of the payment, the amount of the
withholding tax and the actual amount paid.

(2) The duty imposed by subsection (1) shall be
enforceable at the suit or instance of the person entitled to the
statement.
45. [Repealed by Act No. 28 of 1991]
46. (1) [Deleted by Act No. 16 of 1994]

(2) Every company shall upon the payment of a
dividend whether tax is deducted or not furnish to each
shareholder a certificate setting forth the amount of dividend
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(31 of 1970
28 of 1991
16 of 1994)

Temporary
Residents.
[6 of 1947]

Chargeability
of trustees
and other
representatives.


Chargeability
of agent of
person residing
out of Guyana.
(18 of 1951
22 of 1956
11 of 1962
9 of 1991)
paid to that shareholder and the amount of tax which the
company has deducted in respect of that dividend, and also
where the tax payable is affected by double taxation relief, the
rate of tax paid or payable after taking double taxation relief
into account.
47. Tax shall not be payable in respect of any income
arising out of Guyana to any person who is in Guyana for
some temporary purpose only and not with intent to establish
his residence therein and who has not actually resided in
Guyana at one or more times for a period equal in the whole
to six months in the year preceding the year of assessment.
TRUSTEES, AGENTS AND OTHER REPRESENTATIVES

48. A receiver appointed by the Court, trustee,
guardian, curator, or committee, having the direction, control
or management of any property or concern on behalf of any
incapacitated person shall be chargeable to tax in like manner
and to the like amount as that person would be chargeable if
he were not an incapacitated person.

49. (1) A person not resident in Guyana (hereinafter
in this section referred to as a non-resident person) whether a
Commonwealth citizen or not, shall be assessable and
chargeable in the name of his trustee, guardian, or committee,
or of any attorney, factor, agent, receiver, branch, or manager,
whether the attorney, factor, agent, receiver, branch or
manager has the receipt of the income or not, in like manner
and to the like amount as the non-resident person would be
assessed and charged if he were resident in Guyana and in
the actual receipt of that income.
(2) A non-resident person shall be assessable and
chargeable in respect of any income arising whether directly
or indirectly through or from any attorney-ship, factorship,
agency, receivership, branch, or management, and shall be so
assessable and chargeable in the name of the attorney, factor,
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agent receiver, branch, or manager.
(3) Where a non-resident person carries on
business with a resident person, and it appears to the
Commissioner-General that owing to the close connection
between the resident person and the non-resident person and
to the substantial control exercised by the non-resident person
over the resident person, the course of business between
arranged, that the business done by the resident person in
those persons can be so arranged and is so pursuance of his
connection with the non-resident person produces to the
resident person either no profits or less than the ordinary
profits which might be expected to arise from that business,
the non-resident person shall be assessable and chargeable to
tax in the name of the resident person as if the resident person
were an agent of the non-resident person.
(4) Where it appears to the Commissioner-General by
whom the assessment is made, or to the judge by whom an
appeal is heard, that the true amount of the gains or profits of
any non-resident person chargeable with tax in the name of a
resident person cannot in any case be readily ascertained, the
Commissioner-General or the judge may, if he thinks fit,
assess and charge the non-resident person on a fair and
reasonable percentage of the turnover of the business done
by the non-resident person through or with the resident
person in whose name he is chargeable as aforesaid; and in
that case the provision of this Act relating to the delivery of
returns or particulars by persons acting on behalf of others
shall extend so as to require returns or particulars to be
furnished by the resident person of the business so done by
the non-resident person through or with the resident person,
in the same manner as returns or particulars of income to be
charged are to be delivered by those acting for incapacitated
or non-resident persons:

Provided that the amount of the percentage shall in
each case be determined having regard to the nature of the
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business and, when determined by the Commissioner-
General, shall be subject to an appeal to a judge as provided
by section 78.

(5) Nothing in this section shall render a non-
resident person chargeable in the name of a broker or general
commission agent or other agent where that broker, general
commission agent, or agent, is not an authorized person
carrying on the regular agency of the non-resident person, or
a person chargeable as if he were an agent in pursuance of
subsections (3) and (4) in respect of gains or profits arising
from sales or transactions carried out through such a broker
or agent.
(6) The fact that a non-resident person executes
sales or carries out transactions with other non-residents in
circumstances which would make him chargeable in
pursuance of subsections (3) and (4) in the name of a resident
person shall not of itself make him chargeable in respect of
gains or profits arising from those sales or transactions.

(7) Where a non-resident person is chargeable to
tax in the name of any attorney, factor, agent, receiver,
branch, or manager, in respect of any gains or profits arising
from the sale of goods or produce manufactured or produced
out of Guyana by the non- resident person, the person in
whose name the non-resident person is so chargeable may, if
he thinks fit, apply to the Commissioner-General or in the
case of an appeal to the judge, to have the assessment to tax
in respect of those gains or profits made or amended on the
basis of the profits which might reasonably be expected to
have been earned by a merchant or, where the goods are
retailed by or on behalf of the manufacturer or producer, by a
retailer of the goods sold, who bought from the manufacturer
or producer direct, and on proof to the satisfaction of the
Commissioner-General or judge of the amount of the profits
on the basis aforesaid the assessment shall be made or
amended accordingly.
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(8) Notwithstanding anything to the contrary
contained in this Act in the case of a company carrying on
business in Guyana which is a branch establishment, a
subsidiary or an associated company of a non-resident
company, the gains or profits on which tax is payable shall be
deemed to be not less than that proportion of the total
consolidated gains or profits of the whole group of associated
companies (including both resident and non-resident
companies) which the turnover of that company bears to the
consolidated turnover of the whole group of associated
companies.
(9) Exemption from the provisions of subsection (8)
shall be granted, where the resident company proves to the
satisfaction of the Commissioner-General that no significant
part of its business transactions (whether in the form of
sales, purchases or otherwise) was conducted with or
influenced by arrangements entered into by any non-resident
associated company of the same group.
(10) Where for any year of assessment it is proved
to the satisfaction of the Commissioner-General that although
a significant part of the business of the resident company was
transacted with or influenced by arrangements entered into
by any non-resident associated company of the same group,
the gains or profits of the resident company have not thereby
been less than they otherwise would have been the
Commissioner-General may in ascertaining the gains or
profits of the resident company for that year of assessment
disregard subsection (8).
(11) In the case of companies referred to in
subsection (8) which have not been granted exemption from
the provisions of that subsection, the provisions of this Act
relating to the delivery of returns and particulars shall extend
to the furnishing of particulars of the consolidated profits and
the consolidated turnover of the whole group of associated
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Matters to be
done by
representatives.

Lists to be
prepared by
representative
or agent.
[26 of 1949]


Manager of
corporate
bodies.
Indemnificat-
ion
of
companies of which the resident subsidiary company or
branch establishment forms a part.
50. The person who is chargeable in respect of an
incapacitated person or in whose name a non-resident is
chargeable, shall be answerable for all matters required to be
done by virtue of this Act for the assessment of the income of
anyone for whom he acts and for paying the tax chargeable
thereon.

51. (l) Every person who in whatever capacity is in
receipt of any money or value being income from any of the
sources mentioned in this Act of or belonging to any other
person who is chargeable in respect thereof, or who would be
so chargeable if he were resident in Guyana and not an
incapacitated person, shall whenever required to do so by any
notice from the Commissioner-General, prepare and deliver
within the period mentioned in the notice a list in the
prescribed form, signed by him, containing—
(a) a true and correct statement of all that
income;
(b) the name and address of every person
to whom the income belongs.
(2) Every person who refuses, fails, or neglects, to
comply with this section shall be guilty of an offence.
52. The manager or other principal officer of every
corporate body of persons shall be answerable for doing all
the acts matters and things required to be done by virtue of
this Act for the assessment of the body and payment of the
tax.
53. Every person answerable under this Act for the
payment of tax on behalf of another may retain out of any
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representatives.
(26 of 1949)
Power to
appoint agent.
[11 of 1962]
s 8. [13 of 1996]

Deceased
persons.
[18 of 1951]
money coming to his hands on behalf of the other so much as
shall be sufficient to pay the tax; and shall be and is hereby
indemnified against any person whatsoever for payments
made by him in pursuance and by virtue of this Act.
54. (1) The Commissioner-General may by notice in
writing, if he thinks it necessary, declare any person to be the
agent of any other person, and the person so declared the
agent shall be the agent of such other person for the purposes
of this Act, and may be required to pay any tax due from any
moneys, including pensions, salary, wages or any other
remuneration, which may he held by him for, or due by him
to, the person whose agent he has been declared to be, and in
default of such payment the tax shall be recoverable from him
in the manner provided by this Act for the recovery and
enforcement of the payment of tax.
(2) Any person declared by the Commissioner-
General to be the agent of any other person under subsection
(1) may appeal against the declaration, and sections 78, 82 and
86 and any regulations or rules made for the purposes of the
said sections shall, in so far as they are not inapplicable
thereto, apply mutatis mutandis to an appeal under this
section.
55. Where any person dies, then as respects income
arising before his death all rights and duties which would
have attached to him, and any liability to be charged with or
to pay tax to which he would have been subject under this
Act if he had not died, shall pass to his personal
representative, and the amount of any tax payable by the
personal representative under this section shall be a debt
due from and payable out of the estate of the deceased:
Provided that—
(a) any assessment or additional
assessment shall not be made later
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Deduction of
tax
from premiums
paid in respect
of insurance
other than
long term
insurance
[31 of 1970
25 of 1971]

than the third year of assessment
following that in which such person
dies; and

(b) in the case of any person dying
during the year preceding the year
of assessment, if the personal
representative distributes the estate
before the commencement of the year
of assessment, such personal
representative shall pay any tax for
that year of assessment at the rate or
rates in force at the date of
distribution of the estate if the rate of
tax for that year of assessment has not
been fixed at that date.
56. [Repealed by Act No. 8 of 1992]
57. (1) Where any person pays any premium (other
than a premium to which section 58 applies) to a foreign
company in respect of insurance (including re-insurance)
other than long-term insurance, then whether or not such
premium is remitted outside Guyana, the person making the
payment shall deduct therefrom tax at the rate of—

(a) ten percent of the premium where
payment is made to a foreign
company which has not established a
place of business in Guyana;
(b) six per cent of the premium payment
where payment is made to a foreign
company which has established a
place of business in Guyana,
and shall forthwith render an account to the Commissioner-
General of the amount so deducted and every such amount
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Agents of non-
residents to be assessed for
tax.
[31 of 1970]
shall be a debt due from that person to the Government:
Provided that where such a premium is received in
Guyana by a Company, the obligation to deduct the tax
imposed by this subsection and to render an account to the
Commissioner-General shall lie on the company.
(2) In the case of a company making the payment
of the premium, the aforesaid account shall be rendered by
the manager or other principal officer of the company.
(3) Any person who fails or neglects to comply
with the requirements of this section shall be guilty of an
offence.
(4) For the purposes of this section, the amount of
the premium on which tax is payable shall be the amount
remaining after deducting from the premium in case of
insurance any commission paid to an agent resident in
Guyana, and in the case of re-insurance the amount received
for placing the re- insurance:
Provided that the maximum amount of commission
or other sum which shall be allowed as a deduction under
this subsection shall be ten per cent of the premium.
(5) In this section, "foreign company" means a
company the control of and management of whose business
are exercised outside Guyana.
58. Where any person pays or transmits any dividend,
interest, rent, royalty, premium, annuity or other annual
payment derived from any source within Guyana to a person
not resident in Guyana, the first named person shall be
deemed to be the agent of the person not resident in Guyana
and shall, subject to section 39, be assessed and pay tax
accordingly.

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Returns of
claims
for allowances
to the
Commissioner-
General
[11 of 1962]
Returns to be
furnished to
the
Commissioner-
General
[6 of 1947
26 of 1949
11 of 1962
2 of 1978
18 of 1980
11 of 1983
5 of 1987
6 of 1989
9 of 1991
8 of 1992
13 of 1993
3 of 1995
3 of 1996
17 of 1997
4 of 2003
15 of 2003
9 of 2006
12 of 2007
2 of 2008]

59. Any person whether an employee or the holder of
an office or a pensioner to whom any payment is made at any
time during the year 1963 or any year thereafter of or on
account of any emoluments may, and any such person who is
required by the Commissioner-General so to do shall, within
the time specified by the Commissioner-General, for the
purpose of enabling any deductions which may be made
under section 93 to be calculated with reference to the
allowances to which such person may be entitled under
regulations made under section 117, submit to the
Commissioner-General in a form approved by the
Commissioner-General a claim for allowances.

RETURNS AND PARTICULARS OF INCOME
60. (1) Every person being—

(a) an individual whose income is not
less than six hundred thousand
dollars;

(b) a body of persons which was
registered in or carried on business in
Guyana,
shall on or before the prescribed day in every year deliver to
the Commissioner-General a true and correct return of the
whole of his income from every source whatsoever for the
year immediately preceding the year of assessment, and shall
if absent from Guyana give the name and address of an agent
residing therein.

(2) The Commissioner-General may by notice in
writing require any person to furnish him within a specified
time any particulars in writing he requires for any purpose
relating to the administration or enforcement of this Act,
whether or not the person has been previously assessed or
additionally assessed, with respect to the income, assets and
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liabilities of such person or of his wife.
(3) The Commissioner-General may, by not less
than fourteen days notice in writing, require any person to
attend before him and answer questions with respect to the
income, assets and liabilities of the person or of his wife and
produce all books or other documents in his custody or
under his control relating to such income, assets and
liabilities.
(4) The Commissioner-General may by notice in
writing require any person or the attorney of any person, or
the Secretary, attorney, manager, agent, or other principal
officer of a company, residing in Guyana to make returns
under this Act within the time specified by the notice.
(4A) Notwithstanding subsection (1) the
Commissioner-General may require any individual who
derives income from sources other than employment to
deliver to the Commissioner-General a return comprising all
sources of income.
(4B) Notwithstanding subsection (1) individuals
taxable on income determined by a presumptive method
under section 28A for a year shall file a simplified return for
that year in accordance with regulations under that section.
(4C) The Minister may by regulations provide that
individuals having no income for a year other than
employment income with respect to which tax is withheld by
the employer or interest income subject to withholding tax,
or both, are not required to file a return for that year,
provided that the Minister is satisfied that adequate
compliance measures are in place.
(5) Any person who refuses, fails, or neglects to
perform any act required by this section shall be guilty of an
offence.
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Taxpayer
identification
number.
[15 of 2006]

c. 79:04

c. 19:05
c. 85:02
60A. (1) Notwithstanding any other law, any
person who makes an application to or is issued any
permission, licence, authority or any such other document by
any of the following entities—

(a) a Government Department;
(b) a Public Authority including Guyana
Revenue Authority established under
the Revenue Authority Act or a local
authority;
(c) a Public Corporation established
under the Public Corporations Act or
any other law or other State Agency;
(d) the Central Bank established under
section 3 of the Bank of Guyana Act;

may be required to furnish the person processing the
application or issuing the document with the taxpayer
identification number (hereinafter referred to as the TIN of
the person who makes the application.
(2) Where any person referred to in subsection (1)
fails to furnish his TIN when required to do so, the public
entity referred to in subsection (1) shall not process the
application or issue the document.
(3) In this Act “the taxpayer identification number”
means the Guyana Revenue Authority taxpayer identification
number assigned by the Revenue Authority to a taxpayer for
the purpose of transacting business with the Authority under
this Act.
(4) Every employer shall record on the return
made under section 61 (2) the TIN of every employee,
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Government
and municipal
officers to
supply
particulars;
employers to
make returns
relating to
employees.
[1 of 1949
26 of 1949
18 of 1951
11 of 1962
2 of 1986]
pensioner or annuitant from whose emoluments tax was
deducted or to whom he paid a pension or an annuity.
(5) The following persons shall be exempt from the
compliance with the provisions of subsections (1), (2) and
(3)—
(a) any person under the age of fifteen
years;
(b) any person specified in section 13 but
only in respect of emoluments of
persons referred to in that section;
(c) temporary residents in Guyana not in
receipt of income where the total
period of residence in Guyana does
not exceed one hundred and eighty-
three days in the year;
(d) a person who satisfies the Revenue
Authority that he is not in receipt of
income or not required to furnish a
return of income under this section.
61. (1) The Commissioner-General may require any
officer in the employment of the Government or any
municipality or other public body to supply any particulars
required for the purposes of this Act and which may be in the
possession of the officer, but the officer shall not be obliged by virtue of this section to disclose any particulars as to which
he is under any statutory obligation to observe secrecy.
(2) Every employer shall, on or before the
prescribed day in every year of assessment, prepare and
submit to the Commissioner- General a return containing—

(a) the names and places of residence of
all those employed by him during the
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Persons to
estimate tax
[31 of 1970]
Power to
require
information
[18 of 1951
11 of 1962
8 of 1992]
year immediately preceding except
those who were not employed in any
other employment and whose
remunerations in the employment for
the year did not exceed such amount
or amounts as may be prescribed;

(b) [Deleted by Act No. 2 of 1986]
(c) the payments and allowances made to
those persons in respect of that
employment;
(d) the amount of tax deducted or
withheld from the emoluments of
every person aforesaid.
(3) Where the employer is a body of persons, the
manager or other principal officer shall be deemed to be the
employer for the purposes of this section, and any director of
a company or person engaged in the management of a
company shall be deemed to be a person employed.

(4) Any person who refuses, fails, or neglects to
perform any act required by this section shall be guilty of an
offence.
62. Every person required by section 60 to deliver
or submit a return of income shall in the return estimate the
amount of tax payable.

63. (1) Every person who may be so required by
the Commissioner-General shall within the time fixed by the
Commissioner-General give orally or in writing, as may be
required, all such information as may be demanded of him by
the Commissioner-General for the purpose of enabling the
Commissioner-General to make an assessment or to collect
tax.
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Information
by affidavit.
[28 of 1991]


Powers
of the
Commissioner

(2) For the purposes of this section the
Commissioner-General may require any person to give him
information, or to permit him or any person duly authorised
by him in writing in that behalf, to inspect any records of any
moneys, funds or other assets held by him on his own behalf,
or which may be held by him for, or of any moneys due by
him to, any other person.
(3) Every person who—
(a) fails to give to the Commissioner-
General any information required in
accordance with this section; or
(b) fails to produce for the inspection of
the Commissioner-General or any
person duly authorised by him as
aforesaid any of the records specified
in subsection (2) which he may be
required by the Commissioner-
General or such duly authorised
person to produce,
shall be liable on summary conviction to a fine of fifteen
thousand dollars or to imprisonment for six months.
63A. The Commissioner-General or any officer
duly authorised in that behalf by him may, for any purpose
connected with the administration or enforcement of this Act
or other Acts administered by him, administer oaths, and take
and receive affidavits, declarations and affirmations, and such
oaths affidavits, declarations or affirmations shall be of the
same force and effect as if administered, taken or received by
a Commissioner of Oaths to Affidavits.

64. (1) The Commissioner-General or any officer duly
authorised in writing in that behalf by him may enter any
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-General.
[18 of 1951
8 of 1992]
Accounts and
records.
[2 of 1978]


c. 81:03
premises used for industrial, business or trade purposes at all
reasonable times for the purpose of obtaining any information
required for the application of this Act.

(2) Any person who refuses to permit the
Commissioner-General or such an officer after production of
his authority, to enter any such premises or obstructs the
Commissioner-General or such an officer in the discharge of
his functions under the preceding subsection shall be liable on
summary conviction to a fine of fifteen thousand dollars or to
imprisonment for six months.
65. (1) Every person carrying on any business, trade,
profession or vocation shall keep proper accounts and records
of his income and expenditure in the manner prescribed by
the Minister to enable the Commissioner-General to make an
assessment upon him under this Act, and such person shall
retain the accounts and records for a period of at least eight
years after the completion of the transactions, acts or
operations to which they relate.
(2) Subsection (1) shall not require the preservation
of any accounts or records in respect of which the
Commissioner-General has notified any such person in
writing that their preservation is not required.
(3) Any non-resident company, within the
meaning of the Corporation Tax Act, operating in Guyana
shall keep in Guyana in the manner prescribed under
subsection (1) all relevant accounts and records with respect
to the business carried on by the company in Guyana.

(4) Without prejudice to subsection (5), where a
person has failed to keep proper accounts and records as
prescribed the Commissioner-General may add to the
assessment a sum of one hundred dollars or five percent of
the amount of the tax assessed, whichever is greater, and such
sum shall be deemed to be part of the tax assessed and shall
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Partnerships.
[11 of 1962
17 of 1966A]
be recoverable accordingly to make assessments under this
Act.
(5) Any person who refuses, fails or neglects to
keep accounts and records as prescribed shall be guilty of an
offence.
66. Where a trade, business, profession or vocation
is carried on by two or more persons jointly-

(a) the income of any partner from the
partnership shall be deemed to be
the share to which he was entitled
during the year preceding the year of
assessment in the income of the
partnership (that income being
ascertained in accordance with this
Act) and shall be included in the
return of income to be made by the
partner under this Act;
(b) (i) the precedent partner, that is to
say, the partner who of the partners
resident in Guyana—
(A) is first named in the agreement
of partnership; or
(B) if there be no agreement, is
named singly or with
precedence over the other
partners in the usual name of
the firm; or
(C) is the precedent acting partner
if the partner named with
precedence is not an acting
partner,
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Offences.
[26 of 1949]

Payment by
companies of
tax in
accordance
with disclosed
chargeable
income.
[47 of 1974]
s 8. [13 of 1996]
shall make and deliver a return of the income of the
partnership for any year, that income being ascertained in
accordance with this Act, and declare therein the names and
addresses of the other partners in the firm together with the
amount of the share of the said income to which each partner
was entitled for that year;
(ii) where no partner is resident in
Guyana, the return shall be
made and delivered by the
attorney, agent, manager, or
factor of the firm resident in
Guyana.
67. Any person who refuses, fails or neglects to
deliver any return required by the last preceding section shall
be guilty of an offence.

68. Without prejudice to any other provisions of
this Act requiring the payment by a company of tax by
instalments or in advance, a company which has, in
accordance with section 62, estimated in a return of the
company the amount of tax payable by it in respect of year of
assessment shall pay to the Commissioner-General—

(a) on or before 31st January, 1975, where
such return is for a year of assessment
prior to the year of assessment
commencing 1st January, 1975; or
(b) on or before 30th April of the year of
assessment, where such return is for
every subsequent year of assessment
reckoning from 1st January, 1975, the
balance of the tax estimated by the
company in accordance with section
62, regard being had to any payment
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Payment of
tax by
instalments.
(31 of 1970)



by instalments or in advance as
aforementioned.

69. (1) Notwithstanding section 97, but subject to this
section, every person shall pay to the Commissioner-General
on or before 1st April, 1st July, 1st October and 31st December,
respectively, in each year of income, an amount equal to one-
quarter of the tax as estimated by him at the rates specified in
section 36 on his estimated chargeable income for the year,
and, on or before 30th April in the next ensuing year, the
remainder of the tax, as estimated by him under section 62.
(2) For the purposes of subsection (1), the
estimated chargeable income of any person for a year of
income shall be taken to be the chargeable income as
disclosed in his return, if any, of total income for the
preceding year of income.
(3) Where the estimated chargeable income of any
person for the year of income as provided for by subsection
(2) is, in the opinion of such person, likely to be less than the
chargeable income of the preceding year, on an application
by such person for the purpose, the Commissioner-General
may revise the estimated chargeable income of that person
and the amount of tax chargeable thereon, and the provisions
of subsection (1) shall apply accordingly.
(4) The Commissioner-General may estimate the
amount of tax payable by any person where—
(a) that person fails to make a return
required by section 60(1);
(b) no tax was payable in the year
immediately preceding the year of
income, and upon making a demand
therefor in writing of such person,
subsection (1) shall apply
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Commissioner
-General
to make
assessments
[26 of 1949
18 of 1951
11 of 1962
accordingly, as if the estimate of the
Commissioner-General was the
estimate of such person.
(5) Where an individual is in receipt of
emoluments, to which section 93 applies in the year of
income, the provisions of subsection (1) shall not apply to
that individual in respect of that part of his income arising or
accruing to him from emoluments received by him in the year
of income, but the instalment of tax payable under subsection
(1) shall be at the highest rates, as if that part of his income
arising or accruing to him from emoluments as aforesaid was
included in his estimated chargeable income for the year.
(6) Where amounts have been deducted or
withheld under section 93(1) from the emoluments received
by an individual in a year of income, if the emoluments from
which such amounts have been deducted or withheld and
which he had received in the year, are equal to or greater than
three-quarters of his total income for the year, he shall, on or
before the 30th April in the next year, pay to the
Commissioner-General the remainder of his tax for the year
as estimated under section 62.
(7) Where the income of an individual for a year of
income consists solely of income from emoluments to which
section 93 applies, that individual shall, on or before the 30th
April in the next year, pay to the Commissioner-General the
remainder of his tax, if any, as estimated by him under section
62.
ASSESSMENTS
70. (1) The Commissioner-General shall proceed to
assess every person chargeable with the tax as soon as may be
after the day prescribed for delivering the returns.

(2) Where a person has delivered a return the
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2 of 1978]

Commissioner-General may –

(a) accept the return and make an
assessment accordingly; or

(b) refuse to accept the return and, to the
best of his judgment, determine the
amount of the chargeable income of
the person and assess him
accordingly.
(3) Where a person has not delivered a return on
or before the due date (including such particulars as are
required by section 49(11) the Commissioner-General may
make a provisional assessment of chargeable income within
eight months after the prescribed date based on—
(a) in the case of a person carrying on a
trade or business, seven and one-half
per cent of the turnover of the year
previous to the year preceding the
year of assessment; or where the
turnover for that year has not been
ascertained, on such reasonable
estimate of that turnover as the
Commissioner-General to the best of
his judgment may determine;
(b) in the case of a person exercising a
profession or vocation, such average
earnings of the particular profession
or vocation as the Commissioner-
General to the best of his knowledge
may determine, but the assessment
shall not affect any liability otherwise
incurred by the person by reason of
his refusal, failure, or neglect to
deliver a return, and notwithstanding
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Recovery
of tax in
certain cases
[ 5 of 1932]
the provisions of section 78 it shall
not be lawful for any person to
dispute such an assessment unless he
delivers a true and correct return
within the period provided for by
section 78(3) within which objections
to an assessment shall be made.
(4) Where a person has not delivered a return and
the Commissioner-General is of the opinion that the person
is liable to pay tax, he may, according to the best of his
judgment, determine the amount of the chargeable income
of that person and assess him accordingly, but the
assessment shall not affect any liability otherwise incurred
by the person by reason of his refusal, failure, or neglect, to
deliver a return.

(5) [ Repealed by Act No. 15 of 2003 ]
71. (1) If in any particular case the Commissioner-
General has reason to believe that a person who has been
assessed to tax is about to leave Guyana before the expiration
of the time allowed for payment of such tax under section 97
or 103 without having paid such tax he may by notice in
writing to such person demand payment of such tax within
the time to be limited in such notice. Such tax shall thereupon
be payable within the time so limited and in default of
payment shall be recoverable forthwith by process of parate
execution or in the manner prescribed by section 104 unless
security for payment thereof be given to the satisfaction of the
Commissioner-General.
(2) If in any particular case the Commissioner-
General has reason to believe that tax upon any chargeable
income of a person who is likely to leave Guyana before he
has been assessed to tax may not be recovered should the
provisions of this Act be adhered to he may at any time and
as the case may require—
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(a) by notice in writing require any
person to make a return and to
furnish, particulars of any such
income within the time to be
specified in such notice;
(b) make an assessment upon such
person on the amount of the income
returned or, if default is made in
making such return or the
Commissioner-General is dissatisfied
with such return and on such amount
as the Commissioner-General may
think reasonable; and
(c) by notice in writing to the person
assessed require that security for the
payment of the tax assessed be
forthwith given to his satisfaction.
(3) If in any particular case the Commissioner-
General has reason to believe that tax upon any income which
would for any year of assessment become chargeable to such
tax may not be recovered should the provision of this Act be
adhered to he may at any time—
(a) by notice in writing to the person by
whom the tax would be payable
determine a period for which tax
shall be charged and require such
person to render within the time
specified therein returns and
particulars of such income for that
period; and

(b) make an assessment upon such
person on the amount of the income
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returned or, if default is made in
making a return or the
Commissioner-General is dissatisfied
with such return, on such amount as
the Commissioner-General may think
reasonable. Such assessment shall be
made at the rate of tax in force at the
time the assessment is made.
(4) Notice of any assessment made in accordance
with subsection (2) or (3) shall be given to the person
assessed, and any tax so assessed shall be payable on demand
made in writing under the hand of the Commissioner-General
and shall in default of payment be recoverable forthwith by
process of parate execution or in the manner prescribed by
section 104 unless security for the payment thereof be given to
the satisfaction of the Commissioner-General.
(5) Any person who has paid the tax in accordance
with a demand made by Commissioner-General or who has
given security for such payment shall have the rights of
objection and appeal conferred by sections 78 and 86 and the
amount paid by him shall be adjusted in accordance with the
result of any such objection or appeal.
(6) Subsections (2) and (3) shall not affect the
power conferred upon the Commissioner -General by section
72.
(7) Notwithstanding anything in this Act, where
the Commissioner-General is of the opinion that any person
is about to or is likely to leave Guyana without making
arrangements to the satisfaction of the Commissioner-
General, when required by the Commissioner-General to do
so, for the payment of all income tax that is or may become
payable by that person under this Act on his income accruing
in or derived from Guyana or elsewhere up to and including
the year in which he proposes to leave Guyana, the
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Additional
Assessment.
[6 of 1947
26 of 1949
11 of 1962
31 of 1970]
Commissioner
-General
may disregard
certain
transactions
and disposi-
tions.
[3 of 1949]

Transfers of
property
income.
Commissioner-General may issue a direction to the
Commissioner of Police or Chief Immigration Officer, or both,
to prevent such person from leaving without paying the taxes
or furnishing security to the satisfaction of the Commissioner-
General for the payment thereof.
72. Where it appears to the Commissioner-General
that any person liable to tax has not been assessed or has
been assessed at a less amount than that which ought to have
been charged, the Commissioner-General may, within the
year of assessment (commencing with the year of assessment
1942) or within seven years after the expiration thereof, assess
the person at such amount or additional amount as according
to his judgment ought to have been charged, and the
provisions of this Act as to notice of assessment, appeal, and
other proceedings hereunder shall apply to that assessment
or additional assessment and to the tax charged under it:

Provided that where any fraud or any gross or willful
neglect has been committed by or on behalf of any person in
connection with or in relation to tax for any year of
assessment, an assessment in relation to such year of
assessment may made at any time.
73. [Repealed by Act No. 28 of 1991]
74. (1) Where the Commissioner-General is of the
opinion that, any transaction which reduces or would reduce
the amount of tax payable by any person is artificial or
fictitious or that, any disposition is not in fact given effect to,
he may disregard any such transaction or disposition and the
person concerned shall be assessable accordingly.
(2) In this section "disposition" includes any trust,
grant, covenant, agreement or arrangement.
75. (1) Where any person transfers property to a minor
either directly or indirectly or through the intervention of a
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[18 of 1951
49 of 1952
4 of 1958
11 of 1962
11 of 1983
9 of 1991
28 of 1991]

trust or by any other means whatsoever, whether before or
after the coming into effect of this section, such person shall,
nevertheless, during the period of the minority of the
transferee, be liable to be taxed on the income derived from
such property, or from property substituted therefor, as if
such transfer had not been made, and subsequent to such
period of minority the transferor shall continue to be taxed in
respect of the income derived from such property or from
property substituted therefor, as if such transfer had not been
made, unless the Commissioner-General is satisfied that such
transfer was not made for the purpose of avoiding tax.
(2) Where any person transfers, whether before or
after the coming into effect of this section, property in trust,
and provides that the corpus of the trust shall revert either to
the donor or to such persons as he may determine at a future
date, or where a trust provides, whether before or after the
coming into effect of this section, that during the lifetime of
the donor no disposition and no other dealing with the trust
property shall be made without the consent, written or
otherwise, of the donor, such person shall nevertheless be
liable to be taxed on the income derived from the property
transferred in trust, or from property substituted therefor, as
if such transfer had not been made.
(3) Notwithstanding anything to the contrary in
this Act, where a company has, directly or indirectly, at any
time before the end of the year immediately preceding the
year of assessment, whether before or after the coming into
effect of this subsection transferred, assigned or otherwise
disposed of to any person otherwise than for valuable and
sufficient consideration the right to income that would if the
right thereto had not been so transferred, assigned or
otherwise disposed of be included in ascertaining its
chargeable income for the year immediately preceding the
year of assessment, because the income transferred assigned
or otherwise disposed of would have been received or
receivable by it in or in respect of that year, such income shall
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c. 81:03

be included in ascertaining the chargeable income of the
company, and not the chargeable income of any other person,
for that year, unless the income is from property and the
company has also transferred, assigned or otherwise disposed
of such property to that person, or unless the income has been
transferred, assigned or otherwise disposed of for a period
exceeding two years for the benefit of any ecclesiastical, charitable or educational institution, organisation or
endowment of a public character within Guyana, or
elsewhere as may be approved by the Minister for the
purposes of section 7(e) of the Corporation Tax Act;
Provided that where only the income has been
transferred, assigned or otherwise disposed of (not being a
case where the income is from property and such property
has been transferred, assigned or disposed of) (hereinafter
referred to as transferred income), whether before or after
the coming into effect of this proviso, to or for the benefit of
any such institution, organisation or endowment, the amount
of such income to be excluded from ascertaining the
chargeable income of the transferor shall not exceed one-
tenth part of the chargeable income estimated in accordance
with the provisions of this Act (including the transferred
income).
Provided further that nothing in this subsection shall
apply to income the right to which has been transferred,
assigned or otherwise disposed of to or for the benefit of any
ecclesiastical, charitable or educational institution,
organisation or endowment of a public character before the
1st January, 1958.
(4) Where any person has either directly or
indirectly created a trust or has covenanted in respect of any
income, whether before or after the coming into effect of this
section, and the income under that trust or by virtue of that
covenant in the year preceding the year of assessment is
during the life of the settlor payable to or accumulated for, or
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Lists of
persons
assessed


Appointment
of agent in
United
Kingdom.
[4 of 1958]

applicable for the benefit of a child or children of that person
such child or children being under the age of twenty-one
years and unmarried, such income shall be deemed to be the
income of the settlor and not that of any other person.
(5) In this section "disposition' includes any trust,
grant, covenant, agreement or arrangement.
76. (1) The Commissioner-General shall as soon as
possible prepare lists of those assessed to tax.
(2) The lists (herein called the assessment lists)
shall contain the names and addresses of those assessed to
tax, the amount of the chargeable income of each person, the
amount of tax payable by him, and any other necessary
particulars.
77. (1) For the purpose of facilitating the
assessment of the income of persons residing in the United
Kingdom, the Minister may appoint an agent in the United
Kingdom, who shall make inquiries on behalf of the
Commissioner-General in respect of any of those persons to
whom such appointment relates who apply to be dealt with
through the agent and ascertain and report to the
Commissioner-General the amount of the chargeable income
of the person in accordance with this Act, and shall transmit
to the Commissioner-General the accounts and computations
upon which the report is based.
(2) The Commissioner-General on receipt of the
report shall enter the amount reported in the assessment list;
but if it appears to him that any error has occurred in the
accounts or computation he may refer the report back for
further consideration.
(3) Nothing in this section shall prevent the appeal
to a judge in Guyana conferred by section 86.

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Notice of
assessment
and power of
Commissioner
-General
to revise in
case of
objection.
[6 of 1947
26 of 1949
22 of 1956
11 of 1962
25 of 1971]

78. (1) The Commissioner-General shall cause to be
served on every person whose name appears on the
assessment lists a notice stating the amount of his chargeable
income, the amount of tax payable by him, the amount of tax
withheld or deducted from his emoluments, and informing
him of his rights under the next subsection.
(2) If any person disputes the assessment he may
apply to the Commissioner-General, by notice of objection in
writing served on the Commissioner-General by registered
post, to review and to revise the assessment made upon him.
(3) The application shall state precisely the
grounds of his objections to the assessment and shall be made
within fifteen days from the date of the service of the notice of
assessment, but the Commissioner-General, upon being
satisfied that owing to absence from Guyana, sickness, or
other reasonable cause, the person disputing the assessment
was prevented from making the application within that
period, shall extend the period as may be reasonable in the
circumstances.
(4) On receipt of the notice of objection referred to
in subsections (2) and (3), the Commissioner-General may
require the persons giving the notice of objection to furnish
any particulars the Commissioner-General deems necessary
with respect to the income, assets and liabilities of the person
assessed or of his wife and to produce all books or other
documents in his custody or under his control relating to
such income, assets and liabilities and may summon any
person whom the Commissioner-General considers to be able
to give evidence respecting the assessment to attend before
him and may examine the person (except the clerk, agent,
servant, or other person confidentially employed in the
affairs of the person to be charged) on oath or otherwise.
(5) In the event of any person assessed, who has
objected to an assessment made upon him, agreeing with the
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Board of
Review.
[22 of 1956
7 of 1970
3 of 1976]
Commissioner- General as to the amount at which he is liable
to be assessed, the amount so agreed shall be the amount at
which that person shall stand assessed and the assessment
shall be confirmed or amended accordingly:
Provided that, in the event of any person who, under
subsections (2) and (3), has applied to the Commissioner-
General for a revision of the assessment made upon him
failing to agree with the Commissioner-General as to the
amount at which he is liable to be assessed, his right of appeal
to the Board of Review constituted under section 79 or to a
judge under this Act against the assessment made upon him,
shall remain unimpaired.
(6) Any person who refuses, fails or neglects to
perform any act required by the Commissioner-General to be
done in pursuance of the provisions of subsection (4) shall be
guilty of an offence.
79. (1) There shall be established three Boards of
Review or such greater number as may be prescribed by
Order of the Minister, which shall be subject to negative
resolution of the National Assembly, for the purpose of
hearing appeals as hereinafter provided and a reference
hereinafter in this Act or in any regulations made under this
section or section 85, to the Board, or a Board, shall be
construed and have effect as a reference to a Board of Review
established under this section.
(2) A Board shall consist of not less than three and
not more than five members who shall be appointed by the
President.

(3) No person who is employed in the public
service shall be appointed as a member of the Board.
(4) Three members present at any meeting of the
Board shall constitute a quorum for the performance of its
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Appointment
of officers
of the Board
[22 of 1956]

Minutes of
the Board
[22 of 1956]
Appeals to the
Board against
assessments
[22 of 1956
31 of 1970]

functions.
(5) A member may by writing under his hand
addressed to the Secretary to the Office of the President resign
from the Board.
(6) The Board shall meet when summoned by the
Chairman.
(7) The remuneration and any travelling and
subsistence allowances of the Board shall be prescribed by the
President.
(8) Where the Board is unable to arrive at a
unanimous decision on the hearing of any appeal, the
decision of the majority shall prevail.
(9) Every decision of the Board shall be in writing
under the hand of the Chairman.
80. The Minister may appoint a secretary to the Board
(hereinafter referred to as "the Secretary") and such other
officers and servants of the Board as may be necessary at such
remuneration as may be specified.

81. The Board shall cause to be kept proper minutes of
their acts and proceedings.

82. (1) Any person who, being aggrieved by an
assessment made upon him, has failed to agree with the
Commissioner-General as provided in section 78(5) may
appeal to the Board by lodging with the Secretary within
fifteen days from the date of refusal of the Commissioner-
General to amend the assessment as desired, four copies of
the notice of appeal stating concisely the grounds upon which
he desires to appeal, and by serving a copy of such notice on
the Commissioner-General within the said time.
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(2) Every such notice shall be signed by the
appellant personally or by a solicitor on his behalf, and such
notice shall contain the appellant's address and, if the notice
has been signed by a solicitor, the business address of such
solicitor.
(3) Where any person satisfies the Board that
owing to his absence from Guyana, or from illness or other
reasonable cause he was prevented from complying with
subsection (1), the Board may grant him leave to serve his
notice of appeal in the manner hereinbefore prescribed
notwithstanding that the period of fifteen days has elapsed.
(4) Save with the consent of the Board and on such
terms as the Board may determine an appellant may not, on
the hearing of an appeal, rely on any grounds other than
those stated in the notice of appeal.
(5) No appeal shall lie to the Board unless the
person aggrieved by an assessment made upon him by the
Commissioner-General has paid to the Commissioner-
General tax equal to two-thirds of the tax which is in dispute.
(6) Upon the receipt of any notice of appeal, and
on being satisfied that the appellant has paid the amount of
tax as required by subsection (5), the Secretary shall fix a time
and place for the hearing of the appeal, and shall give not less
than fourteen days' notice in writing of such fixture to the
appellant and the Commissioner-General.
(7) Immediately after receiving the copy of the
petition of appeal from the Secretary to the Board, the
Commissioner-General shall forward to the Board copies of
all documents relevant to the assessment.
(8) Every appellant shall attend in person before
the Board on the day and at the time fixed for the hearing of
his appeal:
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Provided that, if it be proved to the satisfaction of the
Board that owing to absence from Guyana, sickness, or other
reasonable cause, any person is prevented from attending in
person at the hearing of his appeal on the day and at the time
fixed for that purpose, the Board may postpone the hearing of
the appeal for any reasonable time it considers necessary for
the attendance of the appellant, or in any case it may admit
the appeal to be made by counsel, attorney-at-law,
accountant, any agent, clerk or servant, of the appellant, on
the appellant's behalf.
(9) The Commissioner-General may appear in
person or may be represented at the hearing by any member
of his Department or by attorney-at-law.
(10) The onus of proving that the assessment
appealed against is excessive shall be on the appellant.
(11) The Board may, after hearing an appeal,
confirm, reduce, increase, or annul, the assessment or make
such order thereon as it may seem fit.
(12) The Secretary to the Board shall, upon the
disposition of an appeal, forward a copy of the decision and
the reasons therefor to the Commissioner-General and to the
appellant.
(13) Notice of the amount of tax payable under the
assessment as determined by the Board shall be served by the
Commissioner-General upon the appellant.
(14) Notwithstanding anything contained in
section 97, if the Board is satisfied that the balance of tax in
accordance with its decision upon appeal may not be
recovered, the Board may require the appellant forthwith to
furnish such security for payment of the balance of the tax, if
any, which may become payable by the appellant as may
LAWS OF GUYANA
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Powers
of the Board.
[22 of 1956]

Duty of
witnesses
summoned.
[22 of 1956]
seem to the Board to be proper. If such security is not given,
the tax assessed shall become payable forthwith and shall be
recoverable by process of parate execution or in the manner
prescribed by section 104.
(15) All appeals under this Act shall be heard in
camera:
Provided that—
(a) the Board may, on application of the
appellant in any appeal, direct that
that appeal be heard in public;
(b) where, in the opinion of the Board,
any proceedings heard in camera
shall be reported, the Board may
authorise publication of the facts of
the case, the arguments and decision
without disclosing the name of the
appellant.
(16) No costs may be awarded on the disposition
of an appeal by the Board.
83. (1) The Board shall have the power to summon
witnesses and to call for the production of books and
documents and to examine witnesses on oath, and no member
of the Board shall be liable to any action or suit for any matter
or thing done by him as such member.
(2) Any summons to a witness to attend before
the Board to give evidence or to produce any book or
document shall be signed by the Chairman and oaths may be
administered by the Chairman.
84. (1) Any person summoned to attend and give
evidence before the Board or to produce any books or
documents shall be bound to obey such summons and any
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Regulations.
[22 of 1956]





Appeals to a
judge or the
Full Court
against
assessments.
[26 of 1949
22 of 1956
21 of 1958
11 of 1962
31 of 1970]
person who, without reasonable excuse fails so to do, shall be
liable on summary conviction to a fine of seventy-five dollars.
(2) Any person who, being before the Board in
pursuance of any summons, refuses to give evidence or
refuses without lawful excuse to produce any book or
document in his custody or control when required to do so by
the Board shall be liable on summary conviction to a fine of
seventy-five dollars:
Provided that no person giving evidence before the
Board shall be compellable to answer any question if in the
opinion of the Board the answer would tend to expose the
witness, his wife, or her husband to any criminal charge or to
any penalty or forfeiture other than civil proceedings at the
instance of the State or of any other person.
85. The Minister may make regulations—

(a) prescribing the manner in which
appeals shall be made to the Board;
(b) prescribing the procedure to be
adopted by the Board in hearing
appeals and the records to be kept by
the Board; and

(c) generally for the better carrying out of
the provisions of this section.
86. (1) (a) Subject to section 98, any person who, being
aggrieved by an assessment made upon him, has failed to
agree with the Commissioner-General in the manner
provided in section 78(5) or having appealed to the Board
under section 82, is aggrieved by the decision of such Board,
may appeal against the assessment or decision, as the case
may be, to a judge in chambers upon giving notice in writing
to the Commissioner-General within thirty days from the date
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of the refusal of the Commissioner-General to amend the
assessment as desired or within thirty days after the date of
the decision of the Board as the case may be.

(b) The Commissioner-General may, if he is
dissatisfied with the decision of the Board, appeal against the
decision to a judge in chambers upon giving notice in writing
to the other party to the appeal under section 82 within thirty
days after the date of such decision and the provisions of this
section in so far as they are applicable shall apply to any such
appeal by the Commissioner- General:

Provided that, notwithstanding the lapse of the
period of thirty days, any person may appeal against an
assessment or decision as the case may be if he shows to the
satisfaction of a judge in chambers that, owing to absence
from Guyana, sickness, or other reasonable cause, he was
prevented from giving notice of appeal within the said
period and that there has been no unreasonable delay on his
part.
(2) The appeal shall be brought by summons, and
evidence shall be received at the hearing if tendered.
(3) Every person appealing shall attend in person
before the judge on the day and at the time fixed for the
hearing of his appeal:

Provided that, if it be proved to the satisfaction of the
judge that owing to absence from Guyana, sickness, or other
reasonable cause, any person is prevented from attending in
person at the hearing of his appeal on the day and at the time
fixed for that purpose, the judge may postpone the hearing of
the appeal for any reasonable time he thinks necessary for the
attendance of the appellant, or he may admit the appeal to be
made by any agent, clerk, or servant, of the appellant, on the
appellant's behalf.

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(4) Seven clear days' notice, unless rules made
hereunder otherwise provide, shall be given to the
Commissioner-General of the date fixed for the hearing of the
appeal.
(5) The onus of proving that the assessment
complained of is excessive shall be on the person assessed.
(6) If the judge is satisfied that the appellant is
overcharged he may reduce the amount of the assessment by
the amount of the overcharge and if he is satisfied that the
appellant is undercharged he may increase the amount of the
assessment by the amount of the undercharge and where a
judge has reduced the amount of the assessment the
Commissioner-General shall forthwith refund the amount of
the overcharge to the appellant together with interest
calculated at the rate of twelve percent of the amount of the
overcharge.
(7) Notice of the amount of tax payable under the
assessment as determined by the judge shall be served by the
Commissioner General upon the appellant.
(8) All appeals shall be heard in camera, unless the
judge, on the application of the appellant, otherwise directs.
(9) The costs of the appeal shall be in the
discretion of the judge hearing the appeal and shall be a sum
fixed by the judge.
(10) The decision of the judge on any question
other than a question of law shall be final.
(11) The Chief Justice may make rules governing
the appeals providing for the method of tendering evidence,
appointing places for the hearing of the appeals, and
prescribing the procedure to be followed on a case being
stated.
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Errors in
assessments
and
notices.
(12) Any assessment or additional assessment
which becomes necessary in order to give effect to a decision
on appeal under this section, may be made at any time
notwithstanding that the time limited by section 72 for the
making of an assessment or additional assessment has
expired.
87. (1) No assessment, warrant, or other
proceeding, purporting to be made in accordance with this
Act shall be quashed, or deemed to be void or voidable, for
want of form, or be affected by reason of a mistake, defect, or
omission therein, if the proceeding is in substance and effect
in conformity with or according to the intent and meaning of
this Act, and if the person assessed or intended to be assessed
or affected thereby is designated therein according to
common intent and understanding.
(2) An assessment shall not be impeached or
affected—
(a) by reason of a mistake therein as to—
(i) the name or surname of a
person; or
(ii) the description of any income;
or
(iii) the amount of tax charged;
(b) by reason of any variance between the
assessment and the notice thereof:
Provided that in case of assessment
the notice thereof shall be duly served
on the person intended to be charged
and shall contain in substance and
effect, the particulars on which the
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Evidence.
s 8. [13 of 1996]



Relief from
double
taxation.
(31 of 1970)
assessment is made.
88. The production of any document under the hand
of the Commissioner-General or of any person or persons
appointed by him, purporting to be a copy of or extract from
any return or assessment, shall in all courts and in all
proceedings be sufficient evidence of the original, and the
production of the original shall not be necessary; and all
courts shall in all proceedings take judicial notice of the
signature of the Commissioner-General, or of any person or
persons appointed by him, either to the original or to the
copy or extract.
RELIEF IN CASES OF DOUBLE TAXATION
89. (1) If the Minister by order declare that
arrangements specified in the order have been made with the
Government of any country with a view to affording relief
from double taxation in relation to income tax and any tax of
a similar character imposed by the laws of that country, and
that it is expedient that those arrangements should have
effect, then subject to the provisions of the next succeeding
section the arrangements shall, notwithstanding anything in
any enactment, have effect in relation to income tax in so far
as—

(a) they provide for relief from tax; or
(b) they provide for—
(i) charging the income arising
 Act 31 of 1970 which repealed the former sections 60 to 65 and replaced them with the present
sections 89, 90 and 91 provided that notwithstanding the repeal of sections 60, 61 and 62, until
arrangements are made with those Commonwealth countries prescribed in the First Schedule to
which the said sections 60, 61 and 62 applied, the said sections 60, 61 and 62 shall continue to
have effect for the purpose of double taxation relief with respect to those Commonwealth
countries, so however that the present sections 89, 90 and 91 shall have effect for the purpose of
withholding tax. For the former sections 60,61 and 62, see Volume V of the 1953 Edition,
Chapter 299 as amended by Ordinance 22 of 1956.
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from sources in Guyana to
persons not resident in Guyana;
or
(ii) determining the income to be
attributed to such persons and
their agencies, branches
establishments in Guyana; or
(iii) determining the income to be
attributed to persons resident
in Guyana who have special
relationship with persons not
so resident.
(2) The provisions of Part I of the Fourth Schedule
shall have effect where arrangements which have effect by
virtue of this section provide that tax payable under the laws
of the country concerned shall be allowed as a credit against
tax payable in Guyana.
(3) The Minister may by regulations, which shall
be subject to negative resolution of the National Assembly,
amend the Fourth Schedule or substitute a new schedule
therefor.
(4) Where, under any arrangements which have
effect by virtue of this section, relief may be given either in
Guyana or in the country with the Government of which the
arrangements are made, in respect of any income, and it
appears that the assessment to income tax made in respect of
the income is not made in respect of the full amount thereof
or is incorrect having regard to the credit, if any, which falls
to be given under the arrangements, any such assessment
may be made as is necessary to ensure that the total amount
of the income assessed and the proper credit, if any, is given
in respect thereof, and where the income is entrusted to any
person in Guyana for payment, any such assessment may be made on the recipient of the income under this Act.
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Unilateral
relief.
Fourth
Schedule.
Fourth
Schedule.
(5) Any arrangements to which effect is given
under this section may include provision for relief from tax
for periods before the commencement of this section or before
the making of the arrangements and provisions as to income
which is not itself subject to double taxation, and the
preceding provisions of this section shall have effect
accordingly.
(6) Any order made under this section may be
revoked by a subsequent order and such revoking order may
contain such transitional provisions as appear necessary and
expedient.
90. (1) To the extent appearing from the following
provisions of this section and Parts II and III of the Fourth
Schedule, relief from income tax shall be given in respect of
income tax payable under the law of any country outside
Guyana by allowing the last mentioned as a credit against
income tax payable in Guyana notwithstanding that there are
not for the time being in force any arrangements under
section 89 providing for such relief.
(2) The said relief (hereinafter referred to in this
section and in Parts II and III of the Fourth Schedule as
“Unilateral Relief”) shall be such relief as would fall to be
given under Part I of the Fourth Schedule if arrangements
with the Government of the foreign country containing such
provision as appears in so much of Part II of the Fourth
Schedule as applied to that country were in force by virtue of
section 89, and any reference occurring in the said Part 1
which imports a reference to relief under arrangements for
the time being in force by virtue of section 89 shall be deemed
to import also a reference to unilateral relief:
Provided that—
(a) the total credit to be allowed by way
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Fourth
Schedule.
Fourth
Schedule.

of unilateral relief in the case of any
income shall not, if the country is
within prescribed Commonwealth
countries, exceed one-half and in any
other case one quarter of the sum of
the limits specified in regulations 4
and 5 of Part 1 of the Fourth Schedule;
and
(b) the provisions of Part 1 of the Fourth
Schedule shall, as respects unilateral
relief, have effect subject to the
provisions set out in Part III of the
said Fourth Schedule.
(3) Where unilateral relief may be given in respect
of any income and it appears that the assessment to income
tax in respect of the income is not made in respect of the full
amount thereof or is incorrect having regard to the credit, if
any, which falls to be given by way of unilateral relief, any
such assessment may be made as is necessary to ensure that
the total amount of income is assessed and the proper credit,
if any is given in respect thereof, and where the income is
entrusted to any person in Guyana for payment, any such
assessment may be made on the recipient of the income under
this Act.
(4) References in this section and in Parts II and III
of the Fourth Schedule to tax payable or tax paid under the
law of a country outside Guyana include only references to
taxes which are charged on income or profits and correspond
to income tax in Guyana, and, without prejudice to the
generality of the foregoing, a tax which is payable under the
law of a province, state or other part of a country, or which is
levied by or on behalf of a municipality or other local body,
shall not be deemed for the purposes of this subsection to
correspond to income tax.

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Power to vary
withholding
tax.
[31 of 1970]

Official
secrecy.
[22 of 1956]

Exchange of
Information.
[14 of 1989]
91. If the Minister, by order, so provides, the rate of
withholding tax shall be reduced to the extent so provided as
respects any person, notwithstanding that there are not for
the time being in force any arrangements under section 89
providing for such relief.
92. Where, under any law in force in any part of the
Commonwealth, provision is made for the allowance of relief
from income tax in respect of the payment of income tax in
Guyana, the obligation as to secrecy imposed by section 4
shall not prevent the disclosure to the authorised officers of
the Government in that part of the Commonwealth of any
facts necessary to enable the proper relief to be given in cases
where relief is claimed from income tax in Guyana or from
income tax in that part or place aforesaid.
92A. (1) The Government may enter into an
agreement with the Government of any other country for the
exchange of information for the prevention of evasion or
avoidance of income tax chargeable under this Act or under
the corresponding law in force in that country, the
investigation of cases, of such evasion or avoidance, or other
matters relating to income tax.
(2) (a) The Minister may by order declare that
an agreement referred to in subsection
(1) shall have effect in accordance
with its terms throughout and for its
duration in relation to income tax
notwithstanding anything in any
other written law.
(b) The Minister may subject to negative
resolution of the National Assembly,
make regulations for carrying out
any agreement referred to in
subsection (1).

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Deduction and
payment of
emoluments.
[11 of 1962]
(c) The obligation as to secrecy imposed
by section 4 shall not prevent the
disclosure to an authorised officer of
the Government of a country with
which an agreement, referred to in
subsection (1), has been entered any
information within the requirement or
contemplation of that agreement.
COLLECTION AND REPAYMENT OF TAX
93. (1) Notwithstanding any provision of this Act to
the contrary, on the making of any payment on or after the
1st January, 1963, to any employee, holder of any office or on
account of any emoluments (including, except the
Commissioner-General allows otherwise, any payments made
in advance of emoluments or payment on loan to be repaid
out of emoluments) arising or accruing in or derived from or
received in Guyana during the year 1963 or any year
thereafter, tax shall, subject to and in accordance with any
regulations made under section 117, be deducted or withheld
by the employer or the person making the payment
notwithstanding that when the payment is made no
assessment has been made in respect of the emoluments or
that the tax on the emoluments is for a year of assessment
other than the year during which the payment is made:
Provided that if any question arises whether any
emoluments are or are not emoluments in respect of which
tax shall be deducted or withheld pursuant to this section,
such question shall be determined by the Commissioner-
General subject to any provisions as to appeals against such
determination as may be provided by the regulations made
under section 117, and to the provisions of this Act relating to
appeals.
(2) The tax deducted or withheld as required by
subsection (1) shall, subject to and in accordance with any
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regulations made under section 117, be paid to the
Commissioner-General by the employer or the person
deducting or withholding the same at such time or times and
by such date or dates as may be prescribed and on the
payment thereof the Commissioner- General shall send to the
employer or such person a receipt which shall to the extent of
the amount referred to therein be a good and sufficient
discharge of the liability of the employer or such person for
any amount deducted or withheld as required by the
provisions of this section.
(3) Subject to subsection (10), where an amount
has been deducted or withheld under subsection (1) from the
emoluments of any person, it shall, for the purposes of this
Act, be deemed to have been received by such person at the
time of the deduction or withholding thereof.
(4) If any person shall fail—
(a) to deduct or withhold any amount
required to be deducted or withheld
by him by subsection (1); or
(b) to remit or pay to the Commissioner-
General any amount which he is
required by subsection (2) to pay to
the Commissioner-General by such
date or dates as may be prescribed,
he shall be guilty of an offence; and in addition to such
amount there shall become payable by such person to the
Commissioner-General, unless the Commissioner-General
otherwise directs, a sum of ten percent of such amount or ten
dollars whichever is the greater and section 99(1)(a) shall
apply in relation to such amount and to such additional sum
as if the same were tax payable by such person on the date
when such amount was required to be deducted, withheld,
remitted or paid, as the case may be.
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(5) All amounts deducted or withheld by any
person pursuant to subsection (1) shall be deemed to be held
in trust by such person for the State and shall not be subject to
attachment in respect of any debt or liability of the said
person and in the event of any liquidation, assignment, or
bankruptcy the said amounts shall form no part of the estate
in liquidation, assignment or bankruptcy but shall be paid in
full to the Commissioner-General before any distribution of
the property is made.
(6) Every person who shall have deducted or
withheld any tax pursuant to subsection (1) shall deliver
personally or send by post within such time or times as may
be prescribed to the person from whose emoluments the tax
was deducted or withheld or to such other person as may be
prescribed such certificate or statement or account relating to
the amount of emoluments and the amount of tax deducted
by him as may be prescribed.
(7) If any person shall fail to comply with
subsection (6) or shall fail to deliver or send to the
Commissioner-General within such time or times as may be
prescribed, any return, certificate or account or any copy
thereof which he may be required by regulations made under
section 117 to deliver or send to the Commissioner-General
for the purpose of rendering him accountable to the
Commissioner-General for any tax deducted or withheld by
him pursuant to the provisions of this section, or to enable the
Commissioner-General to give credit for tax deducted or
withheld to the person from whose emoluments the tax was
deducted or withheld, he shall be liable on summary
conviction to a fine of ten dollars for every day during which
such failure shall continue:
Provided that it shall be a good and sufficient defence
to any complaint brought under this subsection that any such
failure was not due to wilful neglect or default of the
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Commissioner
-General
to prepare tax
defendant or of any person acting on his behalf.
(8) No action shall lie against any person for
deducting or withholding any sum of money in compliance
or intended compliance with subsection (1).
(9) Where by this Act any obligation is imposed on
any person to deduct or withhold any tax pursuant to the
provisions of subsection (1) any agreement made by any such
person not to deduct or withhold such tax shall be void and
of no force or effect whatsoever.
(10) Every person from whose emoluments any
amount shall be deducted or withheld pursuant to subsection
(1) shall upon the amount being so deducted or withheld be
deemed to have paid the same and shall thereupon cease to
be liable for tax to the extent of the amount so deducted or
withheld.
(11) The provisions of this Act requiring a person
to deduct or withhold an amount in respect of taxes from
emoluments payable to any person shall apply to the
Government.
(12) Where a trade, business, profession or
vocation is carried on by two or more persons jointly, the
precedent partner of the partnership as defined in section 66
(b) (C) shall be personally liable for the performance of the
duties required by the preceding provisions of this section to
be performed by the person making the payment or
deducting or withholding any amount of tax; and where a
trade, business, profession or vocation is carried on by a
company, the managing director and the secretary of the
company shall each, in addition to the company itself, be
personally liable for the performance of the said duties.
94. The Commissioner-General shall from time to time
as occasion may require prepare tax tables, a copy whereof
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tables.
[11 of 1962]


Transitional
provisions.
[25 of 1962]

shall be made available to any person required by this Act or
any regulations made under section 117 thereof to deduct or
withhold tax pursuant to section 93(1), for the purpose of
enabling any such person to calculate subject to and in
accordance with any regulations made under the said section
117 the amount of any tax to be so deducted or withheld.
95. (1) Notwithstanding anything contained in this
Act, but subject to this section, income tax on all emoluments
arising or accruing in or derived from or received in Guyana
during the year 1962 is hereby discharged.
(2) Income tax shall not be discharged as aforesaid
unless the person entitled to any emoluments arising or
accruing in or derived from or received in Guyana during the
year 1962 is at some time during the year 1963 in receipt of
emoluments arising or accruing in or derived from or
received in Guyana during the year 1963 from which
deductions are made in accordance with section 93:

Provided that—
(a) where the emoluments arising or
accruing in or derived from or
received in Guyana during the year
1962 exceed or are at a rate in excess
of the aforesaid emoluments arising
or accruing in or derived from or
received in Guyana in the year
1963, the income tax on the
emoluments for the year 1962
assessable under this Act in the year
of assessment 1963 which shall be
discharged shall be computed as if the
emoluments for the year 1962 were
the same as or were at the same rate
as the aforesaid emoluments for 1963;

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(b) where a person is—
(i) resident in Guyana during part
of the year 1963 and during
some other part of that year is
not resident in Guyana, or
(ii) employed in Guyana during
part of the year 1963 and
during some other part of that
year is not so employed, so that
emoluments received in the
year 1963 from which
deductions are made in
accordance with section 93 do
not represent emoluments of a
full year, the income tax on the
emoluments for the year 1962
assessable under this Act in the
year of assessment 1963 which
shall be discharged shall be an
amount which bears to the full
amount of the income tax
assessable on such emoluments
the same proportion as the
period of residence or the
period of employment in 1963,
as the case may be, whichever
is the lesser bears to a full year.
(3) For the purpose of determining the amount of
income tax on any emoluments which form a part only of the
total income assessed to income tax pursuant to this Act, the
amount of income tax on such emoluments shall be an
amount that bears to the full amount of income tax so
assessed the same proportion that the emoluments been to the
total income.

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Special
provisions
for payment of
tax by
Companies.
[28 of 1969
6 of 1989]


96. (1) Notwithstanding anything to the contrary in
the other provisions of this Act, it shall be lawful for the
Minister to prescribe the times for, and the manner of
payment of, any advance on account of tax by a company in
respect of the year of assessment succeeding the year in which
such payment is required to be made pursuant to a
prescription under this section, based provisionally on the
chargeable income of the company for the year preceding the
year in which payment is required to be made aforesaid, or on
such other amount as may be agreed on with the
Commissioner-General:
Provided that the Commissioner-General may require
any company to pay any advance on account of tax based
provisionally on the chargeable income of that company for
each quarter of the year in which such income was earned by
the company, if the Commissioner-General is satisfied that
such basis will result in the satisfactory payment of the tax
which the company ought to pay on its income for the year of
assessment:
Provided further that if any question arises whether
the income is income in respect of which the advance shall be
paid pursuant to this section such question shall be
determined by the Commissioner-General and the provisions
of this Act and any regulations made thereunder relating to
appeals against an assessment made by the Commissioner-
General shall subject to subsection (2), apply to a
determination by the Commissioner-General under this
section.

(2) Nothing contained in section 97 (2) or section
103 shall be construed as applying to a determination of the
Commissioner-General referred to in the provisos to
subsection (1) of this section which is the subject of an appeal
by virtue of this section.

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Time within
which
payment is to
be made.
[18 of 1951
II of 1962
15 of 2003]
Procedure in
cases where
objection
or appeal
is pending.
COLLECTION AND REPAYMENT OF TAX
97. (1) Tax shall be payable to the Commissioner -
General on or before the prescribed date or dates, and a
different date or dates may be prescribed for different classes
of persons.
(2) Collection of tax shall, in cases where notice of
an objection or an appeal has been given, remain in abeyance
until the objection or appeal is determined; but the
Commissioner-General may in any such case enforce
payment of that portion of the tax (if any) which is not in
dispute.
(3) Nothing contained in subsection (2) of this
section or section 103 shall apply or be construed as applying
to any provisions as to appeal referred to in the proviso to
section 93 (1) which may be contained in any regulations
made under section 117.
(4) Notwithstanding anything contained in this
Act, if the Commissioner-General is satisfied that tax
remaining in abeyance under subsection (2) may not be
recovered, or that the person giving the notice of objection is
unreasonably delaying to proceed with his objection, the
Commissioner-General may by notice in writing demand
payment of the tax remaining in abeyance and if the tax is not
paid within thirty days from the receipt of such notice
payment thereof may be enforced under this Act.
(5) If any tax is not paid on or before the
prescribed due date, the Commissioner-General shall serve a
demand note upon the persons assessed, and if payment is
not made within thirty days the Commissioner-General may
proceed to enforce payment by process of parate execution.
(6) Any document signed by the Commissioner-
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Appellant
to pay tax.
[31 of 1970 ]
Penalties for
late payment
and failure to
file a return.
[15 of 2003]
General containing a statement of the amount due in respect
of income tax shall without proof of the signature or without
proof of any other matter or thing be deemed by all courts to
be prima facie evidence of the amount claimed being due and
correct.
98. No appeal shall lie under section 86(1)(a) to a
judge by a person aggrieved by an assessment made upon
him by the Commissioner-General or by a decision of the
Board, unless that person has paid to the Commissioner-
General the whole amount of tax which is in dispute under
the assessment made upon him.
99. (1) If a taxpayer fails to pay income tax on or
before the due date, the taxpayer shall be liable to pay a
penalty of—

(a) two percent of the unpaid amount for
each month or part thereof that the
tax remains unpaid during the first
three months after the due date;
(b) three percent per month or part
thereof during the next three months;
(c) four percent per month or part thereof
during the next six months;
(d) five percent per month or part thereof
thereafter:
Provided, however, that if the taxpayer has entered
into an installment arrangement with the Commissioner-
General the penalty amount shall be one percent per month or
part thereof beginning on the date the installment
arrangement takes effect.
(2) If a taxpayer fails to file a tax return as required
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Certificates.
[11 of 1962]



under section 60(1) or (4B) by the due date specified therein,
the taxpayer is liable to pay a penalty of two percent of the
amount of tax assessed.
(3) If a taxpayer fails to file a tax return as required
under section 60(4) by the due date specified therein, the
taxpayer is liable to pay a penalty of five percent of the
amount tax assessed.
(4) In the case of any penalty imposed under this
section, the amount of penalty shall be deemed to be part of
the tax assessed and shall be recoverable accordingly;
provided, however, that nothing in this subsection shall limit
the Commissioner-General authority to reduce or waive the
amount of penalty as provided in section 108.
100. [ Repealed by 8 of 1992]
101. (1) Where any payment payable to the
Commissioner-General under section 93 or under any other
provision of this Act has not been paid within thirty days
after payment thereof became due, the Commissioner-
General may make out a certificate in such form as may be
prescribed stating the amount payable and the name, the
trade or profession and the usual or last known place of
business or abode of the person by whom such amount is
payable.
(2) On production thereof to the Registrar of the
Supreme Court, a certificate made under this section shall be
registered by him in the High Court and when so registered
shall have the same force and effect, and all proceedings may
be taken thereon as if the said certificate were a judgment for
the State obtained in the High Court for a debt of the amount
specified in the certificate together with any interest required
to be paid by this Act to the day of payment.

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c.3:02




Garnishments.
[11 of 1962]
(3) Rules of Court may be made under section 67
of the High Court Act providing for the procedure to be
followed upon the registration of such certificate.
(4) All reasonable costs and charges attendant
upon the registration of the certificate shall be recoverable in
like manner as if they had been included in such certificate.
102. (1) When the Commissioner-General’s has
knowledge or suspects that a person is or is about to become
indebted or liable to make any payment to a person liable to
make a payment of tax under this Act, he may, by registered
letter or by letter served personally, require such first-
mentioned person to pay the moneys otherwise payable to
such second-mentioned person in whole or in part to him on
account of the liability of the second mentioned person
under this Act.
(2) The receipt of the Commissioner-General for
moneys paid as required under this section shall to the
extent of the payment be a good and sufficient discharge of
the original liability—
(a) of the person who pays such moneys
to the Commissioner-General to the
person liable to make a payment of
tax under this Act;
(b) of the person liable to make a
payment of tax under this Act to the
Commissioner-General.
(3) Where the Commissioner-General, under this
section, has required an employer to pay to him on account
of the liability under this Act of an employee or pensioner to
whom he pays a pension, as the case may be, moneys
otherwise payable by the employer to the employee or
pensioner as emoluments, the requirement shall be applicable
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Collection of
tax after
determination
of objection or
appeal.
to all future payments by the employer to the employee or
pensioner in respect of emoluments until the liability of the
employee or pensioner under this Act is satisfied and shall
operate to require payments to the Commissioner-General
out of each payment of emoluments due to the employee or
pensioner of such amount as may be stipulated by the
Commissioner-General in the registered or other letter.
(4) Every person who has discharged any liability
to a person liable to make payment of tax under this Act
without complying with a requirement under this section
shall be liable to pay to the Commissioner-General as a debt
due to the State an amount equal to the liability discharged
or the amount which he was required under this section to
pay to the Commissioner-General whichever is the less.
(5) Where the person who is or is about to become
indebted or liable carries on business under a name or style
other than his own name, the registered or other letter under
subsection (1) may be addressed to the name or style under
which he carries on business and, in the case of personal
service, shall be deemed to have been validly served if it has
been left with an adult person employed at the place of
business of the addressee.
(6) Where the persons who are or are about to
become indebted or liable carry on business in partnership,
the registered or other letter under subsection (1) may be
addressed to the partnership name and, in the case of
personal service, shall be deemed to have been validly
served if it has been served on one of the partners or left
with an adult person employed at the place of the
partnership.
103. Where payment of tax in whole or in part has
been held over pending the result of a notice of objection or
of an appeal, the tax outstanding under the assessment as
determined on the objection or appeal, as the case may be,
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[11 of 1962]

Suit for tax by
Commissioner-
General.
[11 of 1962]

Power to remit
tax.
[13 of 2008]
Repayment of
tax.
[6 of 1947
26 of 1949
31 of 1970]
shall be payable within thirty days from the receipt by the
person assessed of the notification of the tax payable, and if
the tax is not paid within that period payment thereof may be
enforced under this Act.
104. Tax may be sued for and recovered in a court of
competent jurisdiction by the Commissioner-General in his
official name with full costs of suit from the person charged
therewith as a debt due to the Government as well as the
means provided in any other provisions of this Act relating
to the collection, recovery and enforcement of the payment of
tax.
105. The Minister may make regulations, subject to
negative resolution of the National Assembly, to provide for
the remitting wholly or in part of the tax payable by any
person or category of persons on such income, in respect of
any year of assessment, and in accordance with such
conditions as may be specified in the regulations.
106. (1) If it be proved to the satisfaction of the
Commissioner-General that any person for any year of
assessment has paid tax, by deduction or otherwise, in excess
of the amount with which he is properly chargeable, that
person shall be entitled to have the amount so paid in excess
refunded.
(2) Every claim for repayment under this section
shall be made within seven years from the end of the year of
assessment to which the claim relates.
(3) The Commissioner-General shall give a
certificate of the amount to be repaid and upon receipt of the
certificate the Accountant General shall cause repayment to
be made in conformity therewith.
(4) Except as regards sums repayable on an
objection or appeal, no repayment shall be made to any
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Refund of
excess tax
collected under
section 93.
[11 of 1962]

Remission of
certain
penalities.
[18 of 1951
25 of 1962
15 of 2003]
c. 73:01
Penalties for
offences.
[8 of 1992]
Penalty for
making
incorrect
person in respect of any year of assessment as regards which
that person has failed or neglected to deliver a return or has
been assessed in a sum in excess of the amount contained in
his return (provided he has received notice of the assessment
made upon him for that year) unless it is proved to the
satisfaction of the Commissioner- General that the failure or
neglect to deliver a true and correct return did not proceed
from any fraud or wilful act or omission on the part of that
person.
107. Notwithstanding anything to the contrary
contained in section 106, where, after assessment has been
made in accordance with this Act, any amount collected as
required by section 93 is found to be in excess of the amount
of tax shown to be payable in an assessment, the excess shall
be refunded as soon as practicable thereafter to the person
from whose emoluments the tax was deducted or withheld.
108. (1) The Commissioner-General may without the
authority of any subsidiary or other legislation for good cause
shown, remit the whole or part of any penalty imposed under
section 99.
(2) For purposes of this section, “good cause”
means circumstances specified in section 6(1C) of the
Financial Administration and Audit Act, or, with respect to a
particular taxpayer, when there is doubt as to collectability
that can be resolved by a whole or partial waiver of the
penalty.
OFFENCES
109. Anyone guilty of an offence against this Act shall
be liable on summary conviction to a fine of fifteen thousand
dollars.
110. (1) Every person who without reasonable
excuse—
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return.
[18 of 1951
25 of 1962
8 of 1992]
(a) makes an incorrect return by omitting
or understating any income of which
he is required by this Act to make a
return, whether on his own behalf or
on behalf of another person; or
(b) makes an incorrect statement in
connection with a claim for a
deduction in estimating taxable
income; or
(c) gives any incorrect information in
relation to any matter or thing
affecting his own liability to tax or the
liability of any other person, shall
notwithstanding anything to the
contrary contained in this Act be
liable on summary conviction to a
fine—
(i) of fifteen thousand dollars; and
(ii) double the amount of the tax
which has been
undercharged in consequence
of such incorrect return,
statement, or information, or
would have been so
undercharged if the return,
statement, or information had
been accepted as correct.
(2) The Commissioner-General may compound
any offence under this section, and may, before judgment,
stay or compound any proceedings thereunder. When the
Commissioner-General has compounded any such offence,
the sum for which the offence is compounded shall be
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False
statements and
returns.
[26 of 1949
18 of 1951
42 of 1952
11 of 1962
25 of 1962
8 of 1992]

deemed to be tax assessed under this Act and all the powers
of the Commissioner-General under this Act to enforce
payment and recovery of any assessment shall apply to the
payment and recovery of the sum compounded as if it were
tax assessed under this Act:
Provided that sections 78 and 86 shall not apply to
any composition deemed to be tax assessed under this
subsection.
111. (1) Any person who—
(a) (i) for the purpose of obtaining any deduction,
rebate, reduction, or repayment in respect of
tax for himself or for any other person, or
(ii) in any return, account, or
particulars, made or furnished
with reference to tax,
knowingly makes any false
statement or false
representations; or
(b) aids, abets, assists, counsels, incites, or
induces another person—
(i) to make or deliver any false
return or statement under this
Act; or
(ii) to keep or prepare any false
accounts or particulars
concerning any income on
which tax is payable under this
Act, shall be liable on summary
conviction to a fine of—
(A) fifteen thousand dollars;
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and
(B) treble the amount of the
tax which has been
undercharged in
consequence of such false
account, particulars,
return, statement,
information, or
representation, or would
have been so
undercharged if the
account, particulars,
return, statement,
information, or
representation had been
accepted as correct, and
to imprisonment for six
months.
(2) The Commissioner-General may compound
any offence under this section, and may, before judgment,
stay or compound any proceedings thereunder. When the
Commissioner-General has compounded any such offence,
the sum for which the offence is compounded shall be
deemed to be tax assessed under this Act and all the powers
of the Commissioner-General under this Act to enforce
payment and recovery of any assessment shall apply to the
payment and recovery of the sum compounded as if it were
tax assessed under this Act:
Provided that sections 78 and 86 shall not apply to
any composition deemed to be tax assessed under this
subsection.
(3) For the purposes of this section a false
statement or false representation must be presumed to have
been knowingly made—
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Impeding or
obstructing
Commissioner-
General or
officers.
[26 of 1949]
s 8. [13 of 1996]

Proceedings
[18 of 1951]

Saving for
criminal
proceedings.

Signing of
notices.
[26 of 1949]
s 8. [13 of 1996]
(a) whenever it reveals a degree of
negligence on behalf of the person
making it which is inconsistent with
his obligation under this Act to make
a true and correct return, account,
statement, representation or
declaration, or true and correct
particulars; or
(b) whenever a person fails to notify the
Commissioner-General without
unreasonable delay of any error or
omission in any return, statement,
declaration or representation, account
or particulars furnished, delivered,
made, kept or prepared, as the case
may be, by him.
112. Any person who obstructs or impedes, or insults,
or molests the Commissioner -General, or other officer in
the discharge of his duties, or in his official capacity, or in
the exercise of his powers under this Act, shall be guilty of an
offence.
113. Proceedings for an offence under this Act may be
instituted at any time within six years after the commission
of the offence.
114. The provisions of this Act shall not affect and
criminal proceedings under any other written law.
GENERAL PROVISIONS
115. (1) Every notice to be given by the
Commissioner-General under this Act shall be signed by the
Commissioner-General or by some person or persons from
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Service
of notices.
Regulations.
[11 of 1962
25 of 1962
30 of 1968
31 of 1970
2 of 1978]
time to time appointed by him for that purpose, and the
notice shall be valid if the signature of the Commissioner-
General or of that person or those persons is duly printed or
written thereon:
Provided that any notice in writing under this Act to
any person requiring him to furnish particulars to the
Commissioner-General, or any notice under this Act requiring
the attendance of any person or witness before the
Commissioner-General, shall be personally signed by the
Commissioner-General or by any person duly authorised by
him.
(2) A signature attached to a notice and purporting
to be the signature of any person so appointed shall be taken
to be the signature of that person until the contrary is shown.
116. Notices may be served on a person either
personally or by being sent through registered post to his
last known business or private address, and shall in the latter
event be deemed to have been served, in the case of those
resident in Guyana, not later than the fifteenth day
succeeding the day when posted, and in the case of those not
so resident the thirtieth day succeeding the day on which the
notice would have been received in the ordinary course by
post, and in proving the service it shall be sufficient to prove
that the letter containing notice was properly addressed and
posted.
117. (1) The Minister may from time to time make
regulations generally for carrying out the provisions of this
Act and may in particular by those regulations provide for—
(a) the form of returns, claims,
statements, and notices under this
Act;
(b) the method of calculating or
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estimating in general cases as well as
in any particular trade, business,
profession or vocation any deduction
to be allowed under section 17;
(c) the collection, recovery, and refund of
tax;
(d) the paying of tax by installments,
which may include instalments of tax
for any year of assessment
commencing after the coming into
operation of this paragraph that are
to be paid during the preceding year
by persons in general or of any
prescribed class, and the furnishing
of estimates of chargeable income for
the purposes of this paragraph;
(e) requiring any person, including the
Government making any payment
of, or on account of any emoluments
at the time of making the payment to
make a deduction of tax, calculated
by reference to tax tables prepared by
the Commissioner-General, under
section 94 and for rendering persons
who are required to make any such
deduction accountable to the
Commissioner- General;
(f) prescribing the method of
determining the appropriate code
for the purpose of deducting or
withholding tax under section 93;
(g) the production to and inspection by
the Commissioner-General or any
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person authorised by him of wages
sheets and other documents and
records for the purpose of satisfying
the Commissioner-General that tax
has been and is being deducted, or
withheld and accounted for in
accordance with the regulations;
(h) appeals with respect to matters
arising under the regulations which
would not otherwise be the subject of
appeal;
(i) regulating the times when, the dates
on which or the period within which
claims may be submitted under
section 59;
(j) regulating the manner in which
amounts of excess of tax are
refunded under section 107;
(k) prescribing the manner and form of
keeping accounts and records of any
business, trade, profession or
vocation by any person chargeable
with tax for the purpose of enabling
the Commissioner-General to make
assessments under this Act;
(l) the amendment of the Third Schedule
or the substitution of a new schedule
therefor, but any regulation for the
amendment of Part 1 of the said
Schedule shall be subject to
affirmative resolution of the
National Assembly:

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s. 2
[22 of 1956
4 of 1958]
Provided that this paragraph shall be without
prejudice to any other provision in this Act authorising a
reduction in the rate of withholding tax in any particular case
or for any particular purpose.
(2) Any regulations made under this section shall
not affect any right of appeal to a judge in chambers which a
person would have apart from such regulations.
(3) If anyone fails to observe or contravenes any
regulation made under this Act, he shall be guilty of an
offence.
FIRST SCHEDULE

Aden
Australia
Bahamas
Barbados
Basutoland
Bechuanaland
Belize
Bermuda
British Soloman Islands
Brunei
Canada
Channel Islands
Cyprus
Falkland Islands
Fiji
Gambia
Ghana
Gibraltar
Gilbert & Ellice Islands
Hong Kong
India
Isle of Man
Jamaica
Malta
Mauritius
New Hebrides
New Zealand
Nigeria
North Berneo
Pakistan
St. Helena
Sarawak
Seychelles
Sierra Leone
Singapore
Somaliland Protectorate Southern
Southern Rhodesia
South-West Africa
Sri Lanka
Swaziland
Tanzania
Tonga
Trinidad & Tobago
Uganda
Union of South Africa
United Kingdom of Great Britian
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s. 2
s. 39, 45, 46,
117.
[31 of 1970
9 of 1991]
reg. 2 of 1972
[2 of 1978
9 of 1991
3 of 1996
4 of 2003]
Kenya
Leeward Islands
Malawi
Malaysia
and Northern Ireland
Windward Islands
Zambia
SECOND SCHEDULE
Amateur boxing
Amateur wrestling
Athletics
Badminton
Baseball
Basketball
Billiards
Boat racing
Cricket Croquet
Cycling
Flying
Football
Goat racing
Golf
Hand-ball
Hockey
Horse racing
Model aeroplane flying
Netball
Polo
Roller-skating
Rounders
Rugby
Soft-ball
Swimming
Table tennis
Tenequoits
Lawn Tennis
Water polo
Weightlifting
Yachting
THIRD SCHEDULE
PART I
1. Withholding tax shall be at the rate of twenty
percent on gross distributions, all payments and discounts
on treasury bills.

PART II

[Deleted by Act No. 28 of 1991]

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s. 89 & 90
[31 of 1970]
FOURTH SCHEDULE
DOUBLE TAXATION REGULATIONS
PART I
PROVISIONS AS TO RELIEF FROM INCOME
TAX BY WAY OF CREDIT IN RESPECT OF
FOREIGN TAX
INTERPRETATION
1. (1) In this Part of these Regulations—
"Guyana tax" means income tax;
"foreign tax" means in relation to any country, arrangements
with the Government of which have effect by virtue of
section 89 of the Act, any tax chargeable under the laws
of that country for which credit may be allowed under
the arrangements;
"foreign income tax" means any foreign tax which
corresponds to income tax; "total income" means the
aggregate amount of the income of any person from the
sources specified in section 5 of the Act for a year of
income.

(2) Where arrangements having effect by virtue of
the said section 89 of the Act provide for any tax chargeable
under the laws of the country concerned being treated as
income tax, that tax shall, notwithstanding anything
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contained in this regulation be treated as foreign income tax,
or foreign tax other than foreign income tax, as the case may
be.

(3) Any reference in these Regulations to foreign
tax or foreign income tax shall be construed, in relation to
credit to be allowed under any arrangements, as a reference
only to tax chargeable under the laws of the country with the
Government of which the arrangements were made.

GENERAL
2. (1) Subject to the provisions of these Regulations
where, under the arrangements, credit is to be allowed
against any Guyana tax chargeable in respect of any income,
the amount of the Guyana taxes so chargeable shall be
reduced by the amount of the credit.
(2) Nothing contained in this regulation authorises
the allowance of credit against any Guyana tax against which
credit is not allowable under the arrangements.
REQUIREMENT AS TO RESIDENCE
3. Credit shall not be allowed against tax for any year
of income unless the person in respect of whose income the
tax is chargeable is resident in Guyana for that year.
LIMIT ON TOTAL CREDIT
4. The credit shall not exceed the amount which
would be produced by computing the amount of the income
of the person in question in accordance with the provisions
of the Act, and then charging it to income tax at a rate
ascertained by dividing the income tax chargeable (before
allowance of credit under any arrangements having effect
under section 89 of the Act) on the total income by the
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amount of the total income.
5. Without prejudice to the provisions of the last
preceding regulation, the total credit to be allowed to a
person against income tax for any year of income for foreign
tax under all arrangements having effect by virtue of section
89 of the Act, shall not exceed the total tax payable by him
for that year.
EFFECT ON COMPUTATION OF INCOME OF
ALLOWANCE OF CREDIT
6. (1) In computing the amount of the income—

(a) no deduction shall be allowed in
respect of foreign tax (whether in
respect of the same or any other
income);
(b) where the income tax chargeable
depends on the amount received in
Guyana, the said amount shall be
increased by the appropriate amount
of the foreign tax in respect of the
income;
(c) where the income includes a dividend
and under the arrangements foreign
tax not chargeable directly or by
deduction in respect of the dividend
is to be taken into account in
considering whether any and if so
what, credit is to be given against
income tax in respect of the
dividend the amount of the income
shall be increased by the amount of
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the foreign tax not so chargeable
which falls to be taken into account in
computing the amount of the credit;
but notwithstanding anything in
the preceding provisions of this
paragraph a deduction shall be
allowed of any amount by which the
foreign tax in respect of the income
exceeds the credit therefor.
(2) Subparagraphs (a) and (b) of the preceding
paragraph (but not the remainder thereof) shall apply to the
computation of total income for the purposes of determining
the rate mentioned in regulation 4 and shall apply thereto in
relation to all income in the case of which credit falls to be
given for foreign tax under arrangements for the time being
in force under section 89 of the Act.
7. (1) Where, in the case of any dividend, foreign
income tax not chargeable directly or by deduction in
respect of the dividend is, under the arrangements, to be
taken into account in considering whether any, and if so
what, credit is to be given against income tax in respect of
the dividend, the foreign income tax not so chargeable
which is to be taken into account shall be that borne by the
body corporate paying the dividend upon the relevant profits
in so far as it is properly attributable to the proportion of the
relevant profits which is represented by the dividend.
(2) For the purposes of paragraph (1) the relevant
profits are—
(a) if the dividend is paid for a specified
period, the profits of that period;
(b) if the dividend is not paid for a
specified period but is paid out of
specified profits, those profits;
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(c) if the dividend is paid neither for a
specified period nor out of specified
profits, the profits of the last period
for which accounts of the body
corporate were made up which ended
before the dividend became payable:
Provided that if, in a case falling under subparagraph
(a) or subparagraph (c), the total dividend exceeds the profits
available for distribution of the period mentioned in
subparagraph (a) or subparagraph (c), as the case may be, the
relevant profits shall be the profits of that period plus so
much of the profits available for distribution of preceding
periods (other that profits previously distributed or
previously treated as relevant for the purposes of this
paragraph) as equal to the excess; and for the purposes of this
proviso the profits of the most recent preceding period shall
first be taken into account, then the profits of the next most
recent preceding period, and so on.
8. Where—
(a) the arrangements provide, in relation
to dividends of some classes, but not
in relation to dividends of other
classes, that foreign tax not
chargeable directly or by deduction in
respect of dividends is to be taken
into account in considering whether
any, and if so what, credit is to be
given against income tax in respect
of the dividends; and
(b) a dividend is paid which is not of a
class in relation to which the
arrangements so provide, then, if the
dividend is paid to a company
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which controls, directly or indirectly,
not less than one-half of the voting
power in the company paying the
dividend, credit shall be allowed as if
the dividend were a dividend of a
class in relation to which the
arrangements so provide.

MISCELLANEOUS
9. Subject to the following provisions of this
Schedule, the sums Guyana tax chargeable in respect of the
income of any person if he elects that credit shall not be
allowed in respect of that income.
10. Subject to regulation 11, any claim for an
allowance by way of credit for foreign tax in respect of any
income shall be made not later than six years from the year
of the income and in the event of any dispute or claim to
which the adjustment gives rise, being an assessment as to
the amount allowable the claim shall be subject to objection
and appeal in like manner as an assessment.
11. Where the amount of any credit given under the
arrangements is rendered excessive or insufficient by the
reason of any adjustment of the amount of any tax payable
either in Guyana or under the law of any other country,
nothing in this Act or in any other enactment limiting the
time for making assessments or claims for relief shall apply
to any assessment or claim made not later than six years from
the time when all such assessments, adjustments and other
determinations have been made, whether in Guyana or
elsewhere, as are material in determining whether any, and
if so, what credit falls to be given.
PART II
PROVISION FOR CREDIT BY WAY OF UNILATERAL
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RELIEF
1. Credit for tax paid under the law of the country
outside Guyana in respect of income arising in that country
shall be allowed against Guyana tax chargeable in respect
of that income. Provided that where arrangements with the
Government of the country are for the time being in force
by virtue of section 89 of this Act, credit for tax paid under
the law of the country shall not be allowed under this
regulation in the case of any income if any credit for that
tax is allowable under these arrangements in the case of that
income.
2. Profits from or remuneration for personal or
professional services performed in the country shall be
deemed to be income arising in the country for the purpose
of the preceding regulation.
3. Where a dividend paid by the company resident in
the country is paid to a company resident in Guyana which
owns not less than one-quarter of all classes of voting and
non-voting stock in the company paying the dividend, tax paid under the law of the country by the first mentioned
company in respect of its profits shall be taken into account
in considering whether any, and if so, what credit is to
allowed in respect of the dividend.

PART III
MODIFICATIONS OF PROVISIONS OF PART 1
APPLICABLE TO UNILATERAL RELIEF
Notwithstanding anything in regulation 3 of Part 1 of
these regulations (which provides that relief by way of credit
shall be given only where the person is resident in Guyana)
credit by way of unilateral relief for tax paid under the law of
any country in respect of income from an office or
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11 of 1988
10 of 1997*
employment or profits the duties whereof are performed
wholly or mainly in that country may be allowed against tax
chargeable in respect of that income if the person is for the
particular year of income, resident either in Guyana or that
country.
FIFTH SCHEDULE
PART 1
Calculation of Export Allowances

1. For the purposes of section 33C a deduction or an
export allowance shall be calculated in accordance with the
Table below—
TABLE
Where the percentage of export
sales in relation to total
sales shall be—

(a) is under 10 percent
(b) is 10 percent or more but
does not exceed 21 percent
(c) exceeds 21 percent but does
not exceed 31 percent
(d) exceeds 31 percent but does
exceed 41 percent
Percentage of export profit
deductible as export
allowances—
Nil
25 percent
35 percent
45 percent

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(e) exceeds 41 percent but does
not exceed 51 percent

(f) exceeds 51 percent but does
not exceed 61 percent

(g) exceeds 61 percent
55 percent
65 percent
75 percent
* N.B. The amendment to the Fifth schedule took effect from 1st January 1997.
2. For the purposes of this part—
(a) "total sales" means the proceeds of
sales (ex-factory), of the total output
of a company during a year of
income;
(b) "export sales" means the proceeds of
sale (ex-factory), of the output of a
company, exported to a country other
than a country specified in Part II by
the company either directly or
through any other person, during a
year of income;
(c) in relation to the definitions of "total
sales" and "export sales"—
(i) "proceeds of sale" shall not take
into account any amount of
excise duty and consumption
tax paid in respect of the
products sold that year;
(ii) "output" means the product of
an industry to which the
export allowance applies;
(d) "export profit" means that percentage
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of the total sales profits of a year of
income which the export sales bear to
the total sales of that year of income;
(e) "total sales profits" means the amount
which would be charged to tax as
chargeable profits of the company if—

(i) the manufacture or production
and sale of the product to
which the export allowance
applies were the only source of
profit of the company; and
(ii) no loss available as a deduction
under section 19 were taken
into account.
PART II
Countries to which export do not qualify for export
allowance—
Antigua and Barbuda
Barbados
Belize
Dominica
Grenada
Jamaica
Trinidad & Tobago
Montserrat
St Christopher & Nevis
St Lucia
St Vincent & the Grenadines
P ART III
Products which do not qualify for export allowance—
Bauxite Molasses
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Gold
Diamond
Petroleum
Sugar
Rum
Rice
Timber
Lumber
Shrimp
___________________________

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SUBSIDIARY LEGISLATION
_________________
EXEMPTION FROM INCOME TAX ORDER
made under section 14
Citation.

Exemptions of
Income tax on
certain loans.
[Proc. 6/1943]
[Proc.
24/8/1929]
11 of 1929
[Proc. 6/1941]
26 of 1941
[Proc. 3/1952]
13 of 1951
[Proc. 8/1956]
55 of 1955

1. This Order may be cited as the Exemption from
Income Tax Order.
2. Interest on the following loans shall be exempt from
income tax from the date of issue in respect of interest
payable to persons not resident in Guyana –
(a) the first issue of two million pounds
sterling of the amount authorised to
be issued under the Public Purposes
Loan Ordinance 1929;
(b) the loan of eight hundred and ten
thousand pounds sterling raised
under the Loan (Conversion)
Ordinance 1941;
(c) the loan of two million one hundred
and eighty thousand pounds sterling
raised under the Public Loan
Ordinance (No. 2) 1951;
(d) the loan of three million five hundred
and forty thousand pounds sterling
raised under the Public Loan
Ordinance 1955.

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Exemption on
income tax on
certain
debentures.

[Proc. 2 of 1959]
54 of 1956
[Proc. 7 of 1959]
54 of 1956
[Proc. 7 of 1961]
9 of 1960

[Proc. 6 of 964]
[Proc. 4 of
1966A]
15 of l965

[Proc. 5 of
1966A]
15 of l965
3. Interest on the following debentures shall be
exempt from income tax from the date of issue of the
debenture in respect of interest payable to persons not
resident in Guyana—
(a) the government of Guyana 6%
Debentures, 1969/ 1979 of the loan
issue of six million dollars, authorised
by the Public Loan Ordinance 1956;
(b) the Government of Guyana 5½ %
Debentures, 1969/ 1979 of the loan
issue of five million dollars,
authorised by the Public Loan
Ordinance 1956;
(c) the Government of Guyana 6½ %
Debentures, 1971/ 1981 of the loan
issues of two million, five hundred
thousand dollars, authorised by the
Public Loan Ordinance1960;
(d) the Government of Guyana 6¼%
Debentures, 1974/1984 of the loan
issue of two million dollars,
authorised by 9 of 1960 Public Loan
Ordinance 1960;
(e) the Government of Guyana 7%
Debentures, 1965/ 1975, of the loan
issue of four million dollars,
authorised by the Public Loan
Ordinance 1965;
(f) the Government of Guyana 7 %
Debentures, 1965/ 1975, of the loan
issue of eight million dollars,
authorised by the Public Loan
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L.R.O. 1/2012
[Proc.
28/11/1969
Gaz. 6/12/I969
Nt. 617D]
22 of 1966A
[Proc. 3 of 1957]
17 of 1953
Charged to the
Consolidated
Fund.
[Proc. 3/1961]
[Proc.
30/9/1968]
.

[Proc. 66/1969]
ordinance 1965;
(g) any Government of Guyana
Debentures issued in connection with
any loan raised under the authority of
the Public Loan Ordinance 1966;
(h) the Government of Guyana 5%
Debentures, 1967/ 1987, of the loan
issue of one million, seven hundred
and fifty dollars, authorised by
Legislative Council Resolution No. X
dated 19th July, 1956, and the Public
Loan ordinance 1953.
4. Interest on the following loans and interest on any
bonds that may be issued by the Government of Guyana in
connection with such loans and held by persons not resident
in Guyana shall be exempt from income tax from the date of
such loan:
(a) the loan of $1,250,000 (United States
currency) made to the Government by
the International Bank for
Reconstruction and Development on
the 23rd, June, 1961;
(b) the loan of $5,000,000 (United States
currency) made to the Government by
the International Bank for
Reconstruction and Development on
27th September, 1968.
5. Interest on the following loans made in pursuance
of the respective agreements specified and interest on any
bonds that may be issued by the Government of Guyana in
connection with the said loans and held by persons not
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[O. 43/1971]

[O. 43/1971]
[Proc. 4 of 1959]
[Proc. 4/1959]
6 of 1916
[Proc. 4/1959]
resident in Guyana shall from the date of the execution of the
respective agreements, be exempt from income tax-
(a) the respective amounts of $2,900,000
(United States currency) made
available to the Government of
Guyana by the International Bank for
Reconstruction and Development and
by the International Development
Association, respectively, by virtue of
the agreement executed between the
Government of Guyana and the
aforesaid institution on 31st January,
1969; and
(b) the loan of $5,400,000 (United States
currency) made to the Government of
Guyana by the International Bank for
Reconstruction and Development by
virtue of the Loan Agreement
executed on 24th June,1971.
6. The interest on the loan (credit) of $2,200,000
(United States currency) made to the Government by the
International Development Association by virtue of the
Development Credit Agreement executed on 27th November,
1970, shall, from date, be exempt from income tax.
7. Interest on the following Government of Guyana
loans payable on 1st January, 1957 and thereafter to persons
not resident in Guyana shall be exempt, from income tax—
(a) 3% and 3½ % bonds, issues of the
fifteen million dollars loan authorised
by the Public Loan and Treasury Bills
Act;
(b) 3½ % debentures, issue of the five
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5 of 1945
[Proc. 4/1959]
9 of 1951

[Proc. 4 of 1959]
17 of 1953
[Proc. 4 of 1959]
[11 of 1929]
c..74:01

[Proc. 4/1959]
22 of 1935
[Proc. 1/1966B]
million dollars Loan authorised by the
Public Loan Ordinance 1945;
(c) 3½ % debentures, issue of the one
million, five hundred thousand
dollars loan authorised by the Public
Loan Ordinance 1951;
(d) 4½ % debentures, issue of the two
million, two hundred thousand
dollars loan authorised by the Public
Loan Ordinance 1953;
(e) 2rd, 3rd and 4th issues of 3 % stock of
ninety thousand pounds sterling, one
hundred and seventy five thousand
four hundred pounds sterling, and
two hundred and nine thousand nine
hundred and twenty one pounds
twelve shillings and four pence,
respectively, issued in October, 1929,
May 1934 and January, 1936,
respectively, under the General Loan
and Stock Act; and
(f) 3% stock, issue of two hundred and
fifty-six thousand three hundred and
seventy-two pounds eleven shillings
and three pence authorised by the
Loan Ordinance 1935.
8. Interest on the loans not exceeding the aggregate
principal amount of two million ($2,000,000) United States
dollars to be made by the American Federation of Labour and
Congress of Industrial Organisations, to the Trade Union
Council Co-operative Housing Society Limited, and
guaranteed by the Government of Guyana shall from the date
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[O. 61 of 1972]
[O. 34 of 1973]

(O. 16 of 1974)
[O. 2 of 1975]

[O. 51/1975]

[O. 70/1975]
of the granting of such loans be exempt from income tax.
9. Interest on the loan (credit) of four million, four
hundred thousand dollars (United States currency) made to
the Government by the International Development
Association by virtue of the Development Credit Agreement
(Highway Project) (Credit Number 301-GUA) executed on
26th April, 1972, shall, from that date, be exempt from income
tax.
10. The interest on the loan of six million dollars
(United States currency) made to the Guyana Electricity
Corporation by the International Bank for Reconstruction and
Development by virtue of the Loan Agreement (Power
Project) (875-GUA) executed on 12th January, 1973, shall, from
that date, be exempt from income tax.
11. The interest on the loan of five million two
hundred thousand dollars (Canadian currency) made to the
Guyana Bauxite Company Limited by the Export
Development Corporation by virtue of the Loan Agreement
executed on 17th May, 1974, shall, from that date, be exempt
from income tax.
12. The interest on the loan of fifteen million dollars
(lawful currency of the United States of America) made to the
Government of Guyana by the Orion Termbank Limited of
London, England, and other Banks parties to the Loan
Agreement executed on 28th November, 1974 shall, from that
date, be exempt from income tax.
13. The interest on the loan of $12,900,000 (United
States Currency) made to the Government by the
International Bank for Reconstruction and Development by
virtue of the Loan Agreement executed on the 25th June, 1974
shall, from that date, be exempt from income tax.
14. The interest on the loan of twenty-four million
LAWS OF GUYANA
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[Subsidiary] Exemption from Income Tax Order
L.R.O. 1/2012

[O. 76/ 1975]

[O. 45/1976]
dollars (United States Currency) made to the Guyana Bauxite
Company Limited by the following Banks, namely, Orion
Bank Limited, First Chicago Limited, Amex International
Limited, The Chase Manhattan Bank, N.A., RBC Finance B.V.,
Lloyds Bank International Limited, and The First National
Bank of Chicago, American Express International Banking
Corporation, The Toronto- Dominion Bank, Bank of Scotland,
International Commercial Bank Limited, Libra Bank Limited
and Roywest Banking Corporation Limited, by virtue of the
Loan Agreement executed on the 11th June, 1975 between the
Guyana Bauxite Company Limited and the said Banks shall,
from that date, be exempt from income tax.
15. The interest on—
(a) the loan of $8,000,000 (United States
Currency) made to the Government
by the International Bank for
Reconstruction and Development by
virtue of the Loan Agreement (Loan
Number 1106 GUA) executed on 9th
May, 1975;
(b) the loan (credit) of $4,000,000 (United
States Currency) made to the
Government by the International
Development Association by virtue of
the Development Credit Agreement
(Credit Number 544 GUA) executed
on 9th May, 1975,
shall from that date be exempt from income tax.
16. The interest on –
(a) the loan to make available sums
totalling £5,613,342.00 to be made to
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L.R.O. 1/2012

[O. 19/1986]

[O. 44/1987)

[O.19/1994]
the Government by Kleinwort Benson
Limited, London by virtue of the
Financial Agreement executed on 24th
May, 1976; and
(b) the loan of $2,000,000.00 (U.S.
Currency) made to the Government
by Kleinwort Benson Ltd., London
acting as Agent of certain Banks by
virtue of a Loan Agreement executed
on 24th May, 1976,
shall from that date be exempt from income tax.
17. The interest due and payable by virtue of the Sixth
Deferment Agreement dated as of the 31st day of July, 1985
among the Cooperative Republic of Guyana, the Bank of
Guyana, the other entities named therein and The Royal Bank
of Canada, a Canadian chartered bank having its head office
and principal place of business in the City of Montreal,
province of Quebec, Canada as co-ordinating agent shall from
that date be exempt from income tax.
18. The interest due and payable by virtue of the
Seventh Deferment Agreement dated as of the 30th day of
January 1987 among the Co-operative Republic of Guyana,
the Bank of Guyana the other entities named therein and the
Royal Bank of Canada, a Canadian chartered bank having its
head office and principal place of business in the city of
Montreal, Province of Quebec, Canada as co-ordinating agent
shall from that date be exempt from income tax.
19. The interest on the loan (credit) of an amount in
Various Currencies equivalent to twelve million five hundred
thousand Special Drawing Rights made to Guyana by the
International Development Association by virtue of the
Development Credit agreement (Credit number 2559- GUA)
between Guyana and the International Development
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[Subsidiary] Exemption from Income Tax Order
L.R.O. 1/2012

[O. 27/1994]
(O. 35/1994)
[O. 36/1994]

[O. 37/1994]
Association executed on 5th January, 1994 shall be exempt
from income tax from that date.
20. The interest on the loan of an amount equivalent
to thirteen million five hundred thousand United States
dollars or the equivalent thereof in other currencies forming
part of such resources made to Guyana by the Inter-American
Development Bank by virtue of the Loan Contract (Loan
number 912/SF-GY) between Guyana and the Inter-American
Development Bank executed on 14th February, 1994 shall be
exempt from income tax from that date.
21. The interest on the loan of an amount equivalent
to three million United States dollars or the equivalent thereof
in other currencies made to Guyana by the Inter-American
Development Bank by virtue of the Line of Credit (Line of
Credit No. PPF/010-GY) between Guyana and the Inter-
American Development Bank executed on 7th April 1994 shall
be exempt from income tax from that date.
22. The interest on the loan (credit) of an amount in
Various Currencies equivalent to one million nine hundred
and ninety thousand Special Drawing Rights made to Guyana
by the International Development Association by virtue of the
Development Credit Agreement (Credit number 2168-6-GUA)
between Guyana and the International Development
Association executed on 7th June, 1994 shall be exempt from
income tax from that date.
23. The interest on the loan of an amount equivalent
to thirteen million five hundred thousand United States
dollars or the equivalent thereof in other currencies forming
part of such resources, excepted that of Guyana made to
Guyana by the Inter -American Development Bank by virtue
of the Loan Contract (Loan number 909/SF-GY) between
Guyana and the Inter-American Development Bank executed
on the 13th April, 1994 shall be exempt from income tax from
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[O. 43/1994]
[O. 27/1995]

[O. 29/1996]

[O. 30/1996]
[O. 31/1996]
that date.
24. The interest on the loan of an amount equivalent
to eleven million United States dollars made to Guyana by the
Caribbean Development Bank by virtue of the Loan
Agreement (Loan number 10/SFR-GU) between the Caribbean
Development Bank and Guyana executed on 22nd July, 1994
shall be exempted from income tax from that date.
25. The interest on the loan (credit) of an amount in
Various Currencies equivalent to a million Special Drawing
Rights made to Guyana by the International Development
Association by virtue of the First Agreement Amending The
Development Credit Agreement (Credit number of First
Agreement 2746-1-GUA) between Guyana and the
International Development Association executed on 21st June,
1995 shall be exempt from income tax from that date.
26. The interest on the loan of an amount in various
currencies equivalent to two million Special Drawing Rights
made to Guyana by the International Development
Association by virtue of Agreement No.2746-2-GUA dated
21st June, 1996 amending Development Credit Agreement
dated 21st June, 1995 between Republic of Guyana and the
International Development Association shall be exempt from
income tax from that date.
27. The interest on the loan of an amount in various
currencies equivalent to eleven million eight hundred
thousand Special Drawing Rights made to Guyana by the
International Development Association by virtue of the
Development Credit Agreement (Credit Number 2879 GUA)
between Guyana and the International Development
Association executed on 21st June, 1996 shall be exempt from
income tax from that date.
28. The interest on the loan of an amount equivalent
to 7,800,000 euros (seven million eight hundred thousand
LAWS OF GUYANA
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[Subsidiary] Exemption from Income Tax Order
L.R.O. 1/2012
[O. 33/1996]

[O. 34/1996]

O. 26/1997]

[O. 27/1997]
euros) comprising the equivalent of the aggregate of all sums
in currencies disbursed by the Bank made to the Co-operative
Republic of Guyana by virtue of Finance contract between
Guyana and the European Investment Bank executed on the
15th December, 1995 shall be exempt from income tax from
that date.
29. The interest on the loan of an amount equivalent
to four million one hundred thousand United States dollars or
the equivalent thereof in other currencies forming part of
such resources, except that of Guyana made to Guyana by the
Inter-American Development Bank by virtue of the Technical
Co-operation Contract (contract number 965/SF-GY and
ATN/SF-5098-GY) between Guyana and the Inter- American
Development Bank executed on 9th August 1996 shall be
exempt from income tax from that date.
30. The interest on the loan of an amount equivalent
to thirty four million United States dollars or the equivalent
thereof in other currencies forming part of such resources,
except that of Guyana made to Guyana by the Inter-American
Development Bank by virtue of the Loan Contract (Loan
number 965/SF-GY) between Guyana and the Inter-American
Development Bank executed on 9th August 1996 shall be
exempt from income tax from that date.
31. The interest of the loan of an amount equivalent to
seventeen million United States of America dollars or the
equivalent thereof in other currencies forming part of such
resources, except that of Guyana made to Guyana by the
Inter-American Development Bank by virtue of the Loan
Contract (Loan number 985/SF-GY) between Guyana and the
Inter-American Development Bank executed on the 16th May,
1997 shall be exempt from income tax from that date.
32. The interest on the loan of an amount equivalent
to forty-five million United States of America dollars or the
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[O. 25/1998]

[O. 41/1999]

[O. 6/2000]

[O. 7/2000]
equivalent thereof in other currencies forming part of such
resources, except that of Guyana made to Guyana by the
Inter-American Development Bank by virtue of the Loan
Contract (Loan number 986/SF-GY) between Guyana and the
Inter-American Development Bank executed on the 5th June,
1997 shall be exempt from income tax from that date.
33. The interest on the loan (credit) of an amount in
various currencies equivalent to six million, eight hundred
thousand Special Drawing Rights made to Guyana by the
International Development Association by virtue of the
Development Credit Agreement No. 3139-GUA executed on
12th November, 1998 between the Cooperative Republic of
Guyana and the International Development Association shall,
from that date, be exempt from income tax.
34. The interest on the loan (credit) of an amount in
various currencies equivalent to three million, five hundred
thousand Special Drawing Rights made to Guyana by the
International Development Association by virtue of the
Development Credit Agreement No. 3290-GY executed on
17th November, 1999 between the Cooperative Republic of
Guyana and the International Development Association shall,
from that date, be exempt from income tax.
35. The interest on the loan of an amount equivalent
to twenty million two hundred thousand United States of
America Dollars or the equivalent thereof in other currencies
forming part of such resources, except that of Guyana made
to Guyana by the Inter-American Development Bank by
virtue of the Loan Contract (loan number 1042/SF-GY-l)
between Guyana and the Inter-American Development Bank
executed on the 4th February, 2000 shall be exempt from
income tax from that date.
36. The interest on the loan of an amount equivalent
to nine million eight hundred thousand United States of
America dollars or the equivalent thereof in other currencies
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[Subsidiary] Exemption from Income Tax Order
L.R.O. 1/2012
[O. 10/2001]
[O. 6/2002]
forming part of such resources, except that of Guyana made
to Guyana by the Inter-American Development Bank by
virtue of the Loan Contract (Loan number 1042/SF-GY-2)
between Guyana and the Inter-American Development Bank
executed on the 4th February, 2000 shall be exempt from
income tax from that date.
37. The interest on the loan of an amount equivalent
to twenty-seven million United States of America dollars or
the equivalent thereof in other currencies forming part of
such resources, except that of Guyana made to Guyana by the
Inter-American Development Bank by virtue of the Loan
Contract (Loan number 1047 /SF-GY-2) between Guyana and
the Inter-American Development Bank executed on the 14th
June, 2000 shall be exempt from income tax from that date.
38. The interest on the Bonds, particulars of which are
set out in the TABLE below, issued on 17th May, 1994 under
clause 6(5) of the Guyana Mining Enterprise Limited
(Restructuring and Transfer of Assets and Liabilities) Order
1992 shall from the date of issue be exempt from income tax–
Bond Interest Principal
Rate Curr. Outstanding
Serial No. Name 5% US$ 1,134,731.11
1/1 994 Export Services Incorporated 5% US$ 268,324.41
2/1994 Lincoln Exports Incorporated 5% GBP 21,273.94
3/1994 Ruston Bucyrus (Lincoln) PLC 5% US$ 327,464.00
4/1994 International Resources
Corporation
5% US$ 2,907,945.19
5/1994 Esso Standard Oil S.A. Ltd 5% US$ 49,887.14
6/1994 S.K.F. Latin Trade Incorporated 5% US$ 400,898.55
7/1994 Sea Group Incorporated 5% US$ 6,497,409.81
8/1994/
A Green Mining Incorporated
5% US$ 2,163,000.00
8/1994/B Green Mining Incorporated 5% US$ 2,163,000.00
8/1994/
C Green Mining Incorporated
5% US$ 2,163,000.00
8/1994/
D Green Mining Incorporated
5% US$ 2,196,506.22
9/1994 Guybulk Shipping Ltd 5% NLG 7,323,046.00
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[O. 7/2002]
[O. 8/2002]
10/1994 Boskalis International B.V. 5% US$ 775,866.31
11/1994 Caterpillar Americas Company 5% US$ 117,406.33
12/1994 GIS Trading Company Ltd. 5% US$ 201,085.14
13/1994 International Technical Supplies 5% US$ 286,086.67
14/1994 Minco Sales Corporation 5% DM 1,182,365.40
15/1994 Orenstein & Koppel Anlagen
UND Systeme
5% US$ 739,050.73
16/1994 Hillandale Sales Corporation 5% US$ 784,547.11
17/1994 Guytrade Incorporation 5% US$
287,160.56
18/1994
Atlas Power International Ltd.
now known as Atlas Power
International Incorporated
5% US$
95,410.21
19/1994
Minco Sales Corporation
5% US$ 1,134,731.11
39. The interest on the loan of an amount equivalent
to thirty-three million United States of America dollars or the
equivalent thereof in other currencies forming part of such
resources, except that of Guyana made to Guyana by the
Inter-American Development Bank by virtue of the Loan
Contract (Loan number 1094/SF-GY) between Guyana and the
Inter-American Development Bank executed on the 15th
January, 2002 shall be exempt from income tax from that date.
40. The interest on the loan of an amount equivalent
to twenty million United States of America dollars or the
equivalent thereof in other currencies forming part of such
resources, except that of Guyana made to Guyana by the
Inter-American Development Bank by virtue of the Loan
Contract (Loan number 1085/SF-GY) between Guyana and the
Inter-American Development Bank executed on the 15th
January, 2002 shall be exempt from income tax from that date.
__________________

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[Subsidiary] Mortgage Finance Company (Designation) Order
Income Tax (Prescribed Deduction) Order

L.R.O. 1/2012
[O. 48/1968
86/1970]

Citation.

Designation of
company as
approved
mortgage
Finance
company.

[O. 2/1948
48/1968
86/1970]

Citation.

Payment of
lump sum by
employer
towards
employees
superannuation
or pension
fund.

MORTGAGE FINANCE COMPANY (DESIGNATION)
ORDER
(made under section 15)
1. This Order may be cited as the Mortgage Finance
Company (Designation) Order.
2. The Guyana Mortgage Finance Company Limited
and the Guyana Securities Limited are hereby designated as
approved mortgage finance companies.
____________________
INCOME TAX (PRESCRIBED DEDUCTION) ORDER
(made under section 16)
1. This Order may be cited as the Income Tax
(Prescribed Deduction) Order.
2. In the case of any lump sum payment by an
employer on account of an employee’s superannuation or
pension fund or plan in respect of past employer services of
employees, made in such manner that the sum is towards
irrevocably charged for the benefit of the said fund or plan, it
is hereby employees prescribed that for the purpose of
ascertaining the chargeable income of such employer there
shall be deducted one-tenth of the lump sum payment in each
after successive years, commencing in the year in which the
payment is made.
____________________

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O. 61 /1987

Citation.

Arrangement
with
government of
Canada.
DOUBLE TAXATION RELIEF (TAXES ON INCOME)
(CANADA) ORDER
made under section 89
1. This Order may be cited as the Double Taxation
Relief (Taxes on Income) (Canada) Order.
2. I hereby declare—
(a) that the arrangements specified in the
Convention set out in the of Canada
Schedule to this Order have been
made with the Government of
Canada with a view to affording relief
from double taxation in relation to
income tax and any tax of a similar
character imposed by the laws of
Canada; and
(b) that it is expedient that those
arrangements should have effect.
__________
SCHEDULE
CONVENTION BETWEEN CANADA AND THE CO-
OPERATIVE REPUBLIC OF GUYANA FOR THE
AVOIDANCE OF DOUBLE TAXATION AND THE
PREVENTION OF FISCAL EVASION WITH RESPECT TO
TAXES ON INCOME AND FOR THE ENCOURAGEMENT
OF INTERNATIONAL TRADE AND INVESTMENT.
The Government of Canada and the Government of the
Co-operative Republic of Guyana desiring to conclude a
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Convention for the avoidance of double taxation and the
prevention of fiscal evasion with respect to taxes on income
and the encouragement of international trade and investment,
have agreed as follows:
I. SCOPE OF THE CONVENTION
ARTICLE 1
PERSONAL SCOPE
This Convention shall apply to persons who are residents
of one or both of the Contracting States.
ARTICLE 2
TAXES COVERED
1. The taxes which are the subject of this Convention
are:
(a) in the case of CANADA: the income
taxes imposed by the Government of
Canada, (hereinafter referred to as
"Canadian tax");

(b) in the case of the Co-operative
Republic of Guyana: The Corporation
Tax and Income Tax which are
imposed by the Government of the
Co-operative Republic of Guyana
(hereinafter referred to as "Guyana
Tax").
2. This Convention shall also apply to any identical or
substantially similar taxes which are subsequently imposed in
addition to, or in place of, those referred to in the preceding
paragraph.
3. The Contracting States shall notify each other of any
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change in the Laws relating to the taxes which are the subject
of this Convention, within a reasonable period of time after
such change.
II. DEFINITIONS
ARTICLE 3
GENERAL DEFINITIONS
1. In this Convention, unless the context otherwise
requires:

(a) the term "CANADA" used in a
geographical sense, means the
territory of Canada, including any
area beyond the territorial seas of
Canada which is an area where
Canada may, in accordance with its
national legislation and international
law, exercise sovereign rights with
respect to the sea bed and subsoil and
their natural resources;
(b) (i) the term "GUYANA" means the
Co-operative Republic of
Guyana; and
(ii) when used in a geographical
sense, the term "GUYANA"
includes the territorial seas
thereof including any area
beyond such territorial seas
which in accordance with
international law and the Laws
of Guyana, is an area within
which the rights of sovereignty
with respect to the sea bed and
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subsoil and their natural
resources may be exercised;
(c) the terms "a Contracting State", "one
of the Contracting States" and "the
other Contracting State" mean,
Canada or Guyana as the context
requires;
(d) the term "person" includes an
individual, a company and any other
entities which are treated as taxable
persons under the taxation laws in
force in either Contracting State;
(e) the term "company" means anybody
corporate or any entity which is
treated as a body corporate for tax
purposes; in French, the term "socit"
also means a "corporation" within the
meaning of Canadian law;
(f) the terms "enterprise of one of the
Contracting States" and "enterprise of
the other Contracting State" mean
respectively an enterprise carried on
by a resident of one of the Contracting
States and an enterprise carried on by
a resident of the other Contracting
State;
(g) the term "international traffic"
includes traffic between places in one
country in the course of a voyage
which extends over more than one
country;
(h) the term "competent authority"
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means:
(i) in the case of Canada, the
Minister of National Revenue
or his authorised
representative;
(ii) in the case of Guyana, the
Minister of Finance or his
authorised representative;
(iii) the term "national" means—
(A) any individual
possessing the
nationality of one of the
Contracting States;
(B) any legal person,
partnership and
association deriving its
status as such from the
laws in force in a
Contracting State.
2. Where under this Convention any income is exempt
or relieved from tax in one of the Contracting States and that
income is subject to tax in the other contracting State by
reference to the amount thereof which is remitted to or
received in that other Contracting State, the exemption or
reduction of tax to be allowed under this Convention in the
first-mentioned Contracting State shall apply only to the
amount so remitted or received.
3. In the application of this Convention by a
Contracting State any term not defined in this Convention
shall, unless the context otherwise requires, have the meaning
which it has under the law of that Contracting State relating
to the taxes which are the subject of this Convention.
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ARTICLE 4
RESIDENT
1. For the purposes of this Convention, the term
"resident of a Contracting State" means any person who,
under the laws of that State is liable to tax therein by reason of
his domicile, residence, place of management or any other
criterion of a similar nature.
2. Where by reason of the provisions of paragraph 1
an individual is a resident of both Contracting States his
status shall be determined in accordance with the following
rules:
(a) he shall be deemed to be a resident of
the Contracting State in which he has
a permanent home available to him; if
he has a permanent home available to him in both Contracting States, he
shall be deemed to be a resident of the
Contracting State with which his
personal and economic relations are
closer (hereinafter referred to as his
centre of vital interests);
(b) if the Contracting State in which he
has his centre of vital interests cannot
be determined, or if he has not a
permanent home available to him in
either Contracting State, he shall be
deemed to be a resident of the
Contracting State in which he has an
habitual abode;
(c) if he has an habitual abode in both
Contracting States or in neither of
them, he shall be deemed to be a
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resident of the Contracting State of
which he is a national;
(d) if he is a national of both Contracting
States, or of neither of them, then the
competent authorities of the
Contracting States shall determine the
question by mutual agreement.
3. Where by reason of the provisions of paragraph 1, a
person other than an individual is a resident of both
Contracting States, the competent authorities of the
Contracting States shall by mutual agreement endeavour to
settle the question and to determine the mode of application
of this Convention to such person.
ARTICLE 5
PERMANENT ESTABLISHMENT
1. For the purpose of this Convention, the term
"permanent establishment" means a fixed place of business
through which the business of an enterprise is wholly or
partly carried on.
2. The term "permanent establishment" shall include
especially:
(a) a place of management;
(b) a branch;
(c) a store or other sales outlet;
(d) an office;
(e) a warehouse, in relation to a person
providing storage facilities for others;
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(f) a factory;
(g) a workshop;
(h) a mine, an oil or gas well, a quarry or
any other place of extraction of
natural resources; and
(i) a building site or construction or
assembly project which exists for
more than six months.
3. The term "permanent establishment" shall be
deemed not to include:
(a) the use of facilities solely for the
purpose of storage, display or
delivery of goods or merchandise
belonging to the enterprise;
(b) the maintenance of a stock of goods or
merchandise belonging to the
enterprise solely for the purpose of
storage, display or delivery;
(c) the maintenance of a stock of goods or
merchandise belonging to the
enterprise solely for the purpose of
processing by another enterprise;
(d) the maintenance of a fixed place of
business solely for the purpose of
purchasing goods or merchandise, or
for collecting information, for the
enterprise;
(e) the maintenance of a fixed place of
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business solely for the purpose of
advertising, for the supply of
information, for scientific research or
for similar activities which have a
preparatory or auxiliary character, for
the enterprise.
4. A person acting in one of the Contracting States on
behalf of an enterprise of the other Contracting State - other
than an agent of an independent status to whom paragraph 5
applies shall be deemed to be a permanent establishment in
the first-mentioned Contracting State:
(a) if he has, and habitually exercises in
that first-mentioned Contracting
State, an authority to conclude
contracts in the name of the
enterprise, unless his activities are
limited to the purchase of goods or
merchandise for the enterprise; or
(b) if he maintains in that first-mentioned
Contracting State a stock of goods or
merchandise belonging to the
enterprise from which he habitually
fills orders or makes deliveries on
behalf of the enterprise; or
(c) if he maintains in that first-mentioned
Contracting State equipment or
machinery for rental or other
purposes within such State for a
period, or periods, exceeding in the
aggregate six months during the year
of income or the taxation year as the
case may be.

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5. An enterprise of one of the Contracting State shall
not be deemed to have a permanent establishment in the
other Contracting State merely because it carries on business
in that other State through a broker, general commission
agent or any other agent of an independent status, where
such persons are acting in the ordinary course of their
business.
6. The fact that a company which is a resident of one
of the Contracting State controls or is controlled by a
company which is a resident of the other Contracting State, or
which carries on business in that other State (whether through
a permanent establishment or otherwise), shall not of itself
constitute either company a permanent establishment of the
other.
III. TAXATION OF INCOME
ARTICLE 6
INCOME FROM IMMOVABLE PROPERTY
1. Income from immovable property, including
income from agriculture or forestry, may be taxed in the
Contracting State in which such property is situated.
2. For the purposes of this Convention, the term
"immovable property" shall be defined in accordance with the
law of the Contracting State in which the property in question
is situated. The term shall in any case include property
accessory to immovable property, livestock and equipment
used in agriculture and forestry, rights to which the
provisions of general law respecting landed property apply,
usufruct of immovable property and rights to variable or
fixed payments as consideration for the working of, or the
right to work, mineral deposits, sources and other natural
resources, ships, boats and aircraft shall not be regarded as
immovable property.
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3. The provisions of paragraph 1 shall apply to income
derived from the direct use, letting or use in any other form of
immovable property and to profits from the alienation of such
property.
4. The provisions of paragraph 1 and 3 shall also
apply to the income from immovable property of an
enterprise and to income from used for the performance of
independent personal services.
ARTICLE 7
BUSINESS PROFITS
1. The profits of an enterprise of a Contracting State
shall be taxable only in that state unless the enterprise carries
on business in the other Contracting State through a
permanent establishment situated therein. If the enterprise
carries on business or has carried on business as aforesaid, the
profits of the enterprise may be taxed in the other State but
only so much of them as is attributable to that permanent
establishment.
2. Subject to the provisions of paragraph 3, where an
enterprise of a Contracting State carries on business in the
other Contracting State through a permanent establishment
situated therein, there shall be attributed to the permanent
establishment the profits which it might be expected to make
if it were a distinct and separate enterprise engaged in the
same or similar activities under the same or similar conditions
and dealing wholly independently with the enterprise of
which it is a permanent establishment.
3. In determining the profits of a permanent
establishment situated in a Contracting State, there shall be
allowed as deductions all expenses which would be
deductible under the law of that State (if the permanent
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establishment were an independent enterprise) in so far as
such expense are reasonably allocable to the permanent
establishment including executive and general administration
expense so deductible and allocable, whether incurred in the
Contracting State in which the permanent establishment is
situated or elsewhere.
4. In so far as it has been customary in a Contracting
State to determine the profits to be attributed to a permanent
establishment on the basis of an apportionment of the total
profits of the enterprise to its various parts, nothing in
paragraph 2 shall preclude that Contracting State from
determining the profits to be taxed by such an apportionment
as may be customary, the method of apportionment adopted
shall, however, be such that the result shall be in accordance
with the principles embodied in this Article.
5. No profits shall be attributed to a permanent
establishment by reason of the mere purchase by that
permanent establishment of goods or merchandise for the
enterprise.
6. For the purpose of the preceding paragraphs, the
profits to be attributed to the permanent establishment shall
be determined by the same method year by year unless there
is a good and sufficient reason to the contrary.
7. Where profits include items of income which are
dealt with separately in other Articles of this Convention, the
provisions of this Article shall not affect the application of the
provisions of those other Articles with respect to the taxation
of such items of income.
ARTICLE 8
SHIPPING AND AIR TRANSPORT
1. A resident of one of the Contracting States shall be
exempt from tax in the other Contracting State on profits from
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the operation of ships or aircraft in international traffic.
2. Notwithstanding the provisions of paragraph 1 and
Article 7 profits derived from the operation of the ships or
aircraft used principally to transport passengers or goods
exclusively between places in a Contracting State may be
taxed in that State.
3. The provisions of paragraphs 1 and 2 shall also
apply to profits referred to in those paragraphs derived by an
enterprise of a Contracting State from its participation in a
pool, a joint business, or an international operating agency.
ARTICLE 9
ASSOCIATED ENTERPRISES
Where:
(a) an enterprise of one of the
Contracting States participates
directly or indirectly in the
management, control or capital of an
enterprise of the other Contracting
State, or
(b) the same persons participate directly
or indirectly in the management,
control or capital of an enterprise of
one of the Contracting States and an
enterprise of the other Contracting
State and in either case conditions are
made or imposed between the two
enterprises, in their commercial or
financial relations, which differ from
those which would be made between
independent enterprises, then any
profits which would, but for those
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conditions, have not so accrued, may
be included in the profits of that
enterprise and taxed accordingly.
ARTICLE 10
DIVIDENDS
1. Dividends paid by a company which is a resident of
a Contracting State to a resident of the other Contracting State
may be taxed in that other State.
2. However, such dividends may also be taxed in the
Contracting State of which the company paying the dividends
is a resident, and according to the laws of that State, but if the
recipient is the beneficial owner of the dividends the tax so
charged shall not exceed 15 percent:
(a) in the case of Canada, of the gross
amount of the dividend, and
(b) in the case of Guyana, of the amount
of the dividend actually distributed.
The provisions of this paragraph shall not affect the
taxation of the company on the profits out of which the
dividends are paid.
3. The provisions of paragraphs 1 and 2 shall not
apply if the beneficial owner of the dividends, being a
resident of a Contracting State, carries on business in the
other Contracting State of which the company paying the
dividends is a resident, through a permanent establishment
situated therein, or performs in that other State independent
personal services from a fixed base situated therein, and the
holding in respect of which the dividends are paid is
effectively connected with such permanent establishment or
fixed base. In such case the provisions of Article 7 or Article
14, as the case may be shall apply.
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4. Where a company which is a resident of only one of
the Contracting States derives profits or income from the
other Contracting State, that other State may not impose any
tax on the dividends paid by the company, except in so far as
such dividends are paid to a resident of that other State or in
so far as the holding in respect of which the dividends are
paid is effectively connected with a permanent establishment
or a fixed base situated in that other State, nor subject the
company's undistributed profits to a tax on undistributed
profits even if the dividends paid or the undistributed profits
consist wholly or partly of profits or income arising in such
other State.
5. Nothing in this Convention shall be construed as
preventing a Contracting State from imposing on the earnings
of a company attributable to a permanent establishment in
that State, tax in addition to the tax which would be
chargeable on the earnings of a company which is a resident
of that State, provided that any additional tax so imposed
shall not exceed 15 percent of the amount of such earnings
which have not been subjected to such additional tax in
previous taxation years. For the purpose of this provision, the
term "earning" means the profits attributable to a permanent
establishment in a Contracting State in a year and previous
years after deducting therefrom all taxes, other than the
additional tax referred to herein, imposed on such profits by
that State.
6. The term "dividends" as used in this Article:
(a) in the case of Guyana includes any
income which under the tax law of
Guyana is treated as a distribution;
(b) in the case of Canada includes any
income which under the tax law of
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Canada is treated as a dividend.
ARTICLE 11
INTEREST
1. Interest arising in one of the Contracting States and
paid to a resident of the other Contracting State may be taxed
in that other State.
2. However, such interest may also be taxed in the
Contracting State in which it arises, and according to the laws
of that State, but if the recipient is the beneficial owner of the
interest the tax so charged shall not exceed:
(a) in the case of Canada, 15 percent, and
(b) in the case of Guyana, 25 percent, of
the gross amount of the interest.
3. The provisions of paragraphs 1 and 2 shall not
apply if the beneficial owner of the interest, being a resident
of one of the Contracting States, carries on business in the
other Contracting State in which the interest arises through a
permanent establishment situated therein, or performs in that
other State independent personal services from a fixed base
situated therein, and the debt-claim in respect of which the
interest is paid is effectively connected with such permanent
establishment or fixed base. In such case the provision of
Article 7 or Article 14, as the case may be, shall apply.
4. Notwithstanding the provisions of paragraph 2,
interest derived from sources within a Contracting State shall
be exempt from tax in that State if it is beneficially owned by
the Government of the other Contracting State or by an
instrumentality of that other State, not subject to tax in that
other contracting State on its income.
5. The term "instrumentality" as used in this Article
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means any agency or entity created or organized by the
Government of either Contracting State in order to carry out
governmental functions.
6. Interest shall be deemed to arise in a Contracting
State when the payer is that State itself, a political
subdivision, a local authority or a resident of that State.
Where, however, the person paying the interest, whether he is
a resident of a Contracting State or not, has in a contracting
state a permanent establishment or a fixed base in connection
with which the indebtedness on which the interest is paid was
incurred, and such interest is borne by such permanent
establishment or fixed base, then such interest shall be
deemed to arise in the State in which the permanent
establishment or fixed base is situated.
7. Where, by means of a special relationship between
the payer and the beneficial owner or between both of them
and some other person, the amount of the interest, having
regard to the debt-claim for which it is paid, exceeds the
amount which would have been agreed upon by the payer
and the beneficial owner in the absence of such relationship,
the provisions of this Article shall apply only to the last-
mentioned amount. In such case, the excess part of the
payments shall remain taxable according to the laws of each
Contracting State, due regard being had to the other
provisions of this Convention.
8. In this Article, the term "interest" means income
from Government securities, from bonds or debentures,
whether or not secured by mortgage, or from any other form
of indebtedness, as well as all other income assimilated to
income from money lent by the taxation law of the State in
which the income arises. However, the term "interest" does
not include income dealt with in Article 10.
ARTICLE 12
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ROYALTIES
1. Royalties arising in a Contracting State and paid to
a resident of the other Contracting State may be taxed in that
other State.
2. However, such royalties may also be taxed in the
Contracting State in which they arise, and according to the
laws of that State, but if the recipient is the beneficial owner of
the royalties the tax so charged shall not exceed 10 percent of
the gross amount of the royalties.
3. The term "royalties" as used in this Article means
payments of any kind received as a consideration for the use
of, or the right to use, copyright of literary, artistic or scientific
work including cinematograph films and films or tapes for
radio or television broadcasting, any patent, trademark,
design, or model, plan secret formula or process or other like
property or rights, or for the use of or the right to use
industrial, commercial or scientific equipment, or for the use
of or the right to use industrial, commercial or scientific
information, or experience.
4. The provisions or paragraphs 1 and 2 shall not
apply if the beneficial owner of the royalties, being a resident
of a Contracting State carries on business in the other
Contracting State in which the royalties arise through a
permanent establishment situated therein, or performs in that
other State independent personal services from a fixed base
situated therein, and the right or property in respect of which
the royalties are paid is effectively connected with such
permanent establishment or fixed base. In such case the
provisions of Article 7 or Article 14, as the case may be, shall
apply.
5. Royalties shall be deemed to arise in a Contracting
State when the payer is that State itself, a political
subdivision, a local authority or a resident of that State.
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Where, however, the person paying the royalties, whether he
is a resident of a Contracting State or not, has in a Contracting
State a permanent establishment or fixed base in connection
with which the obligation to pay the royalties was incurred,
and such royalties are borne by such permanent
establishment or fixed base, then such royalties shall be
deemed to arise in the State in which the permanent
establishment of fixed base is situated.
6. Where, by reason of a special relationship between
the payer and the beneficial owner or between both of them
and some other person, the amount of the royalties, having
regard to the use, right or information for which they are
paid, exceeds the amount which would have been agreed
upon by the payer and the beneficial owner in the absence of
such relationship, the provisions of this Article shall apply
only to the last-mentioned amount. In such case, the excess
part of the payments shall remain taxable according to the
laws of each Contracting State, due regard being had to the
other provisions of this Convention.
ARTICLE 13
MANAGEMENT FEES
1. Management fees arising in a Contracting State and
paid to a resident of the other Contracting State may be taxed
in that other State.
2. However, such management fees may also be taxed
in the Contracting State in which they arise, and according to
the laws of that State, but if the recipient is the beneficial
owner of the management fees the tax so charged shall not
exceed 10 percent of the gross amount of the management
fees.
3. The term "management fees" as used in this Article
means payments of any kind to any person, other than to an
employee of the person making the payments, for, or in
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respect of, the provision of industrial or commercial advice, or
management or technical services, or similar services or
facilities, but it does not include payments for independent
personal services mentioned in Article 14.
4. The provisions of paragraphs 1 and 2 shall not
apply if the beneficial owner of the management fees, being a
resident of a Contracting State, carries on business in the
other Contracting State in which the management fees arise
through a permanent establishment situated therein, and the
obligation in respect of which the management fees are paid
is effectively connected with such permanent establishment.
In such case the provisions of Article 7 shall apply.
5. Management fees shall be deemed to arise in a
Contracting State when the payer is that State itself, a political
subdivision, a local authority or a resident of that State.
Where, however, the person paying the management fees,
whether he is a resident of a Contracting State or not, has in a
Contracting State a permanent establishment in connection
with which the obligation to pay the management fees was
incurred, and such management fees are borne by such
permanent establishment, then such management fees shall
be deemed to arise in the State in which the permanent
establishment is situated.
6. Where, by reason of a special relationship between
the payer and the beneficial owner or between both of them
and some other person, the amount of the management fees,
having regard to the advice services or use for which they are
paid, exceeds the amount which would have been agreed
upon by the payer and the beneficial owner in the absence of
such relationship, the provisions of this Article shall apply
only to the last-mentioned amount. In such case, the excess
part of the payments shall remain taxable according to the
laws of each contracting State, due regard being had to the
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ARTICLE 14
INDEPENDENT PERSONAL SERVICES
1. Income derived by a resident of a Contracting State
in respect of independent personal services shall be taxable
only in that State unless he has a fixed base regularly
available to him in the other Contracting State for the purpose
of performing those services. If he has or had such fixed base,
the income may be taxed in the other Contracting State but
only so much of it as is attributable to that fixed base.
2. The term "independent personal services" includes
independent scientific, literary, artistic, educational and
teaching activities as well as the independent activities of
physicians, lawyers, engineers, architects, dentists and
accountants.
ARTICLE 15
DEPENDENT PERSONAL SERVICES
1. Subject to the provisions of Article 17 and 18,
salaries, wages and other similar remuneration derived by a
resident of one of the Contracting States in respect of an employment shall be subjected to tax only in that Contracting
State unless the employment is exercised in the other
Contracting State. If the employment is so exercised, such
remuneration as is derived therefrom may be taxed in that
other Contracting State.
2. Notwithstanding the provisions of paragraph 1,
remuneration derived by a resident of one of the Contracting
States in respect of an employment exercised in the other
Contracting State shall be subjected to tax only in the first-
mentioned Contracting State if the recipient is present in the
other Contracting State for a period or periods not exceeding
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(a) the remuneration is paid by, or on
behalf of, an employer who is not a
resident of the other Contracting
State, and such remuneration is not
deducted from the profits of a
permanent establishment which the
employer has in the other Contracting
State; or
(b) the remuneration earned in the other
Contracting State in the calendar year
concerned does not exceed two
thousand five hundred Canadian
dollars ($2,500.00) or its equivalent in
Guyana dollars.
3. In relation to remuneration of a director of a
company derived from the company the preceding provisions
of this Article shall apply as if the remuneration were
remuneration of an employee in respect of an employment,
and as if references to employers were references to the
company. Income from personal services performed by
partners for the partnership shall be treated as income from
independent personal services under Article 14.
4. Notwithstanding the preceding provisions of this
Article, remuneration in respect of an employment performed
aboard a ship, or aircraft in international traffic may be taxed
in the Contracting State in which the person operating the
ship or aircraft is a resident.
ARTICLE 16
ARTISTES AND ATHLETES
1. Notwithstanding the provisions of Article 7, 14 and
15, income derived by entertainers, such as theatre, motion
picture, radio or television artistes, and musicians, and by
athletes, from their personal activities as such or income
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derived from the furnishing by an enterprise of the services of
such entertainers or athletes, may be taxed in the contracting
State in which these activities are exercised.
2. The provisions of paragraph 1 shall not apply if the
visit of the entertainers or athletes to a Contracting State is
supported wholly or substantially from public funds of the
other Contracting State, a political subdivision or local
authority thereof.
ARTICLE 17
PENSIONS AND ANNUITIES
1. Pensions and annuities arising in a Contracting
State and paid to a resident of the other contracting State may
be taxed in that other Contracting State.
2. Pensions and annuities arising in a Contracting
State and paid to a resident of the other Contracting State may
also be taxed in the State in which they arise, and according to
the law of that State.
3. Notwithstanding anything in this Convention:
(a) pensions paid by Guyana to any
individual in respect of services
rendered to Guyana in the discharge
of Government functions shall be
taxed only in Guyana.
(b) social security pensions and war
veteran allowances received from one
of the Contracting States by a resident
of the other Contracting State shall
not be taxable in that other State so
long as they are not subject to tax in
the first-mentioned Contracting State.
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(c) alimony and other similar payments
arising in a Contracting State and
paid to a resident of the other
Contracting State who is subject to tax
therein in respect thereof, shall be
taxable only in that other State.
4. The term "annuities" as used in this Article means a
stated sum paid periodically at stated times during life or
during a specified number of years under an obligation to
make payments in return for adequate and full consideration
in money or money's worth.
5. The term "alimony" as used in this Article means
any amount paid pursuant to a decree, order or judgment of a
competent tribunal or pursuant to a written agreement, as
allowance payable on a periodic basis for the maintenance of
the recipient thereof, children of the marriage or both the
recipient and children of the marriage.
ARTICLE 18
GOVERNMENT SERVICE
1. (a) Remuneration, other than a pension,
paid by a Contracting State or a
political subdivision or a local
authority thereof to an individual in
respect of services rendered to that
State or subdivision or authority shall
be taxable only in that State.
(b) However, such remuneration shall be
taxable only in the other Contracting
State if the services are rendered in
that State and the individual is a
resident of that State who:

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(i) is a national of that State; or
(ii) did not become a resident of
that State solely for the purpose
of rendering the services.
2. The provisions of paragraph 1 shall not apply to
remuneration in respect of services rendered in connection
with a business carried on by a Contracting State or a political
subdivision or a local authority thereof.
ARTICLE 19
STUDENTS AND TRAINEES
Payments which a student, apprentice or business trainee
who is, or was immediately before visiting a Contracting
State, a resident of the other Contracting State and who is present in the first-mentioned State solely for the purpose of
his education or training receives for the purpose of his
maintenance, education or training shall not be taxed in that
State, provided that such payments arise from sources outside
that State.
IV. METHOD FOR PREVENTION OF DOUBLE
TAXATION
ARTICLE 20
ELIMINATION OF DOUBLE TAXATION
1. In the case of Canada, double taxation shall be
avoided as follows:
(a) Subject to the existing provisions of
the law of Canada regarding the
deduction from tax payable in Canada
of tax paid in a territory outside
Canada and to any subsequent
modification of those provisions:
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- which shall not affect the general
principle hereof
- and unless a greater deduction or
relief provided under the laws of
Canada, tax payable in Guyana on
profits, income or gains arising in
Guyana shall be deducted from any
Canadian tax payable in respect of
such profits, income or gains.
(b) Subject to the existing provisions of
the law of Canada regarding the
determination of the exempt surplus
of a foreign affiliate and to any
subsequent modification of those
provisions which shall not affect the
general principle hereof for the
purpose of computing Canadian tax, a
company resident in Canada shall be
allowed to deduct in computing its
taxable income any dividend received
by it out of the exempt surplus of a
foreign affiliate resident in Guyana.
2. In the case of Guyana, double taxation shall be
avoided, as follows:
Subject to the provisions of the Law of Guyana,
regarding the allowance as a credit against Guyana tax of tax
payable in a territory outside Guyana (which shall not affect
the general principle hereof), the Canadian tax payable under
the laws of Canada and in accordance with this Convention
(excluding in the case of a dividend, tax payable on the profits
or income of the company paying the dividend) whether by
deduction from, or under a computation measured by reference to profits or income from sources within Canada
shall be allowed as a credit against any Guyana tax computed
by reference to the same profits or income by reference to
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which the Canadian tax is computed. Where such income is a
dividend paid by a company which is a resident of Canada to
a company which is a resident of Guyana and which controls
directly or indirectly not less than 25% of the voting power in
the Canadian company, the credit shall take into account (in
addition to any Canadian tax payable in respect of the
dividend) the Canadian tax payable by the company in
respect of the profits out of which such dividend is paid.
3. For the purpose of this Article, profits, income or
gains of a resident of a Contracting State which are taxed in
the other Contracting State in accordance with this
Convention shall be deemed to arise from sources in that
other State.
4. For the purpose of paragraph 1 (a) tax payable in
Guyana by a company which is a resident of Canada.
(a) in respect of profits attributable to a
trade or business carried on by it in
Guyana; or
(b) in respect of dividends, interest or
royalties received by it from a
company which is a resident of
Guyana,
shall be deemed to include any amount which would have
been payable as Guyana tax for any year but for an exemption
from or reduction of, tax granted for that year or any part
thereof under any of the following provisions, that is to say:
(i) Section 2(1) and (3) of the
Income Tax (In Aid of Industry)
Act Chapter 81:02 of 1973;
(ii) Section 91 of the Income Tax
Act, Chapter 81:01 when
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exercised in pursuance of
economic development
objectives; so far as they were
in force on, and have not been
modified since, the date of
signature of this Convention, or
have been modified only in
minor respects so as not to
affect their general character
and except to the extent that the
said provisions have the effect
of exempting or relieving of a
source of income for a period in
excess of ten years.
(iii) any other provisions which
may subsequently be made
granting an exemption or
reduction of tax which is
agreed by the competent
authorities of the Contracting
States to be of a substantially
similar character, if it has not
been modified thereafter or has
been modified only in minor
respects so as not to affect its
general character:
Provided that any deduction from Canadian tax granted
in accordance with the provisions of this paragraph in respect
of dividends, interest or royalties shall not exceed an amount
equal to 15 percent of the gross amount thereof.

V. SPECIAL PROVISIONS
ARTICLE 21
NON-DISCRIMATION

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1. The nationals of a Contracting State shall not be
subjected in the other Contracting State to any taxation or any
requirement connected therewith which is other or more
burdensome than the taxation and connected requirements to
which nationals of that other State in the same circumstances
are or may be subjected.
2. The taxation on a permanent establishment which
an enterprise of a Contracting State has in the other
Contracting State shall not be less favourably levied in that
other State than the taxation levied on enterprises of that
other State carrying on the same activities.
3. Nothing in this Article shall be construed as
obliging a Contracting State to grant to residents of the other
Contracting State any personal allowances, relief and
reductions for taxation purposes on account of civil status or
family responsibilities which it grants to its own residents.
4. Enterprises of a Contracting State, the capital of
which is wholly or partly owned or controlled, directly or
indirectly, by one or more residents of the other Contracting
State shall not be subjected in the first-mentioned State to any
taxation or any requirement connected therewith which is
other or more burdensome than the taxation and connected
requirements to which other similar enterprises of the first-
mentioned State, the capital of which is wholly or partly
owned or controlled, directly or indirectly, by one or more
residents of a third State, are or may be subjected.
5. In this Article, the term "taxation" means taxes
which are the subject of this Convention.
ARTICLE 22
MUTUAL AGREEMENT PROCEDURE
1. Where a resident of one of the Contracting States
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considers that the actions of one or both of the Contracting
States result or will result for him in taxation not in
accordance with this Convention, he may, notwithstanding
the remedies provided by the laws of those States, present his
case in writing to the competent authority of the Contracting
State of which he is a resident.
2. The competent authority referred to in paragraph 1,
shall endeavour, if the objection appears to it to be justified
and if it is not itself able to arrive at an appropriate solution,
to resolve that case by mutual agreement with the competent
authority of the other Contracting State, with a view to the
avoidance of taxation not in accordance with this Convention.
3. The competent authorities of the Contracting States
shall endeavour to resolve by mutual agreement any
difficulties or doubts arising as to the interpretation or
application of this Convention. They may also consult
together for the elimination of double taxation in cases not
provided for in this Convention.
4. The competent authorities of the Contracting States
may communicate directly with each other for the purposes
of reaching an agreement in the sense of the preceding
paragraphs.
ARTICLE 23
EXCHANGE OF INFORMATION
1. The competent authorities of the Contracting States
shall exchange such information as is necessary for carrying
out the provisions of this Convention or of the domestic laws
of the Contracting States concerning taxes covered by the
Convention in so far as the taxation thereunder is not contrary
to the Convention. The exchange of information is not
restricted by Article 1. Any information received by a
Contracting State shall be treated as secret in the same
manner as information obtained under the domestic laws of
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that State and shall be disclosed only to persons or authorities
(including courts and administrative bodies) involved in the
assessment or collecting of, the enforcement in respect of, or
the determination of appeals in relation to, the taxes covered
by the Convention. Such persons or authorities shall use the
information only for such purposes. They may disclose the
information in public court proceedings or in judicial
decisions.
2. In no case shall the provisions of paragraph 1 be
construed so as to impose on a Contracting State the
obligation:
(a) to carry out administrative measures
at variance with the laws or the
administrative practice of that or of
the other Contracting State;

(b) to supply information which is not
obtainable under the laws or in the
normal course of the administration
of that or of the other Contracting
State.
(c) to supply information which would
disclose any trade, business,
industrial, commercial or professional
secret or trade process, or
information, the disclosure would be
contrary to the public policy (order
public).
ARTICLE 24
DIPLOMATIC AGENTS AND CONSULAR OFFICERS
1. Nothing in this Convention shall affect the fiscal
privileges of diplomatic agents or consular officers under the
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general rules of international law or under the provisions of
special agreements.
2. Notwithstanding Article 4, an individual who is a
member of a diplomatic mission, consular post or permanent
mission, of a Contracting State which is situated in the other
Contracting State or in a third State shall be deemed for the
purposes of the Convention to be a resident of the sending
State if he is liable in the sending State to the same obligations
in relation to tax on his total income as are residents of that
sending State.
3. The Convention shall not apply to International
Organisations, to organs or officials thereof and to persons
who are members of a diplomatic mission, consular post or
permanent mission of a third State, being present in a
Contracting State and who are not liable in either Contracting
State to the same obligations in relation to tax on their total
income as are residents thereof.
ARTICLE 25
MISCELLANEOUS RULES
1. The provisions of this Convention shall not be
construed to restrict in any manner any exclusion, exemption,
deduction, credit, or other allowance now or hereafter
accorded:
(a) by the laws of a Contracting State in
the determination of the tax imposed
by that State, or
(b) by any other agreement entered into
by a Contracting State.
2. Nothing in the Convention shall be construed as
preventing Canada imposing a tax on amounts included in
the income of a resident of Canada by virtue of the provisions
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of Section 91 of Canada Income Tax Act, so far as they are in
force on the date of entry into force of this Convention, or
have been modified only in minor respects, so as not to affect
their general character.
3. This Convention shall not apply to any company,
trust or partnership that is a resident of a Contracting State
and is beneficially owned or controlled directly or indirectly
by one or more persons who are not residents of that State if
the amount of the tax imposed on the income or capital of the
company, trust or partnership by that State is substantially
lower than the amount that would be imposed by that State if
all the shares of the capital stock of the company or all of the
interests in the trust or partnership, as the case may be, were
beneficially owned by one or more individuals who were
residents of that State.

VI. FINAL PROVISIONS
ARTICLE 26
ENTRY INTO FORCE
1. This Convention shall be ratified and the
instruments of ratification shall be exchanged.
2. The Convention shall enter into force upon the
exchange of instruments of ratification and its provisions shall
have effect:
(a) in Canada:
(i) in respect of tax withheld at the
source on amounts paid or
credited to non-residents on or
after the first day of January in
the calendar year in which the
exchange of instruments of
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ratification takes place; and
(ii) in respect of other Canadian tax
for taxation years beginning on
or after the first day of January
in the calendar year in which
the exchange of instruments of
ratification takes place;
(b) in Guyana:
(i) with respect to tax withheld at
the source on amounts paid,
credited or remitted to non-
residents on or after the first
day of January in the calendar
year in which the exchange of
instruments of ratification takes
place; and
(ii) with respect to other Guyana
tax for the year of income
commencing 1 January in the
calendar year in which the
exchange of instruments of
ratification takes place.
3. The exchange of Notes between Canada and the
United Kingdom dated July 7 and September 3, 1943
providing for the reciprocal exemption of persons resident in
Canada and British Guiana from income tax of earnings
deprived from the operation of ships is terminated upon the
entry of this Convention.
ARTICLE 27
TERMINATION
1. This Convention shall continue in effect indefinitely
but the Government of either Contracting States may, on or
before June 30 in any calendar year after the exchange of
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instruments of ratification, give to the Government of the
other Contracting State a notice of termination in writing, in
such event, the Convention shall cease to be effective:
(a) in Canada:

(i) in respect of tax withheld at the
source on amounts paid or
credited to non-residents on or
after the first day of January in
the calendar year next
following that in which the
notice is given; and
(ii) in respect of other Canadian
Tax for taxation years
beginning on or after the first
day of January in the calendar
year next following that in
which the notice is given;
(b) in Guyana:
(i) with respect to tax withheld at
the source on amounts paid,
credited or remitted to non-
residents on or after January 1,
in the calendar year next
following that in which such
notice is given; and
(ii) with respect to other Guyana
tax for the year of income
commencing January 1, in the
calendar year next following
that in which such notice is
given.
____________________
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O. 59/1992

Citation.
Arrangement
with
Government of
United
Kingdom of
Great Britain
and Northern
Ireland.
DOUBLE TAXATION RELIEF (TAXES ON INCOME)
(UNITED KINGDOM OF GREAT BRITAIN
AND NORTHERN IRELAND) ORDER
made under section 89
1. This Order may be cited as the Double Taxation
Relief (Taxes on Income) (United Kingdom of Great Britain
and Northern Ireland).
2. I hereby declare—
(a) that the arrangements specified in the
Convention set out in the United
Schedule to this Order have been
made with the Government of
Kingdom of the United Kingdom of
Great Britain and Northern Ireland
with Great Britain a view to affording
relief from double taxation in relation
to and Northern income tax and any
tax of a similar character imposed by
the Ireland laws of the United
Kingdom of Great Britain and
Northern Ireland; and
(b) that it is expedient that those
arrangements should have effect.
__________
SCHEDULE
CONVENTION
BETWEEN THE GOVERNMENT OF THE CO¬OPERATIVE
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REPUBLIC OF GUYANA AND THE GOVERNMENT OF
THE UNITED KINGDOM OF GREAT BRITAIN AND
NORTHERN IRELAND FOR THE AVOIDANCE OF
DOUBLE TAXATION AND THE PREVENTION OF FISCAL
EVASION WITH RESPECT TO TAXES ON INCOME AND
CAPITAL GAINS.
The Government of the Co-operative Republic of Guyana and
the Government of the United Kingdom of Great Britain and
Northern Ireland;
Desiring to conclude a Convention for the avoidance of
double taxation and the prevention of fiscal evasion with
respect to taxes on income and capital gains and the
encouragement of international trade and investment;
Have agreed as follows:
I. SCOPE OF THE CONVENTION
ARTICLE 1
PERSONAL SCOPE
This Convention shall apply to persons who are residents of
one or both of the Contracting States.
ARTICLE 2
TAXES COVERED
(1) The taxes which are the subject of this
Convention are:
(a) in the United Kingdom of Great
Britain and Northern Ireland:
(i) the income tax;
(ii) the corporation tax;
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(iii) the capital gains tax
(hereinafter referred to as
"United Kingdom tax");
(b) in the Co-operative Republic of
Guyana:
The Corporation Tax, Income Tax
and Capital Gains Tax which are
imposed by the Government of the
Co-operative Republic of Guyana
(hereinafter referred to as "Guyana
Tax").
(2) This Convention shall also apply to any
identical or substantially similar taxes which are subsequently
imposed in addition to, or in place of, those referred to in the
preceding paragraph.
(3) The Contracting States shall notify each other of
any substantial changes in the laws relating to the taxes which are the subject of this Convention, within a reasonable
period of time after such change.
ARTICLE 3
GENERAL DEFINITIONS
(1) For the purposes of this Convention, unless the
context otherwise requires:
(a) the term "United Kingdom" means
Great Britain and Northern Ireland,
including any area outside the
territorial sea of the United Kingdom
which in accordance with
international law has been or may
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hereafter be designated, under the
laws of the United Kingdom
concerning the Continental Shelf, as
an area within which the rights of the
United Kingdom with respect to the
sea bed and sub-soil and their natural
resources may be exercised;
(b) (i) the term "GUYANA" means the
Co-operative Republic of
Guyana; and
(ii) when used in a geographical
sense, the term "GUYANA"
includes the territorial seas
thereof including any area
beyond such territorial seas
which in accordance with
international law and the laws
of Guyana, is an area within
which the rights of sovereignty
with respect to the sea bed and
sub-soil and their natural
resources may be exercised;
(c) the term "national" means:
(i) in relation to the United
Kingdom, any British citizen or
any British subject not
possessing the citizenship of
any other Commonwealth
country or territory provided
he has the right of abode in the
United Kingdom; and any legal
person, partnership, association
or other entity deriving its
status as such from the law in
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force in the United Kingdom;
(ii) in relation to Guyana, the term
"national" means:
(aa) any individual who is a
citizen of Guyana;
(bb) any legal person,
partnership, association
or other entity deriving
its status as such from
the laws in force in
Guyana.
(d) the terms "a Contracting State", "the
other Contracting State" and "one of
the Contracting States" mean the
United Kingdom or Guyana, as the
context requires;
(e) the term "person" comprises an
individual, a company and any other
body of persons, but does not include
a partnership;
(f) the term "company" means anybody
corporate or any entity which is
treated as a body corporate for tax
purposes;
(g) the terms "enterprise of a Contracting
State" and "enterprise of the other
Contracting State" mean respectively
an enterprise carried on by a resident
of a Contracting State and an
enterprise carried on by a resident of
the other Contracting State;
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(h) the term "international traffic" means
any transport by a ship or aircraft
operated by an enterprise of a
Contracting State, except when the
ship or aircraft is operated solely
between places in the other
Contracting State;
(i) the term "competent authority" means
in the case of United Kingdom, the
Commissioners of Inland Revenue or
their authorised representative, and,
in the case of Guyana, the Minister of
Finance or his authorised
representative.
(2) In the application of this Convention by a
Contracting State any term not defined in this Convention
shall, unless the context otherwise requires, have the meaning
which it has under the law of that Contracting State relating
to the taxes which are the subject of this Convention.
ARTICLE 4
RESIDENT
(1) For the purposes of this Convention, the term
"resident of a Contracting State" means any person who,
under the laws of that State, is liable to tax therein by reason
of his domicile, residence, place of management or any other
criterion of a similar nature. The terms "resident of the United
Kingdom" and "resident of Guyana" shall be construed
accordingly.
(2) Where by reason of the provisions of paragraph (1)
of this Article an individual is a resident of both Contracting
States, then his status shall be determined in accordance with
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the following rules:
(a) he shall be deemed to be a resident of
the Contracting State in which he has
a permanent home available to him; if
he has a permanent home available to
him in both Contracting States, he
shall be deemed to be a resident of the
Contracting State with which his
personal and economic relations are
closer (centre of vital interests);
(b) if the Contracting State in which he
has his centre of vital interests cannot
be determined, or if he has no
permanent home available to him in
either Contracting State, he shall be
deemed to be a resident of the
Contracting State in which he has an
habitual abode;
(c) if he has an habitual abode in both
Contracting States or in neither of
them, he shall be deemed to be a
resident of the Contracting State of
which he is a national;
(d) if he is a national of both Contracting
States, or of neither of them, the
competent authorities of the
Contracting States shall settle the
question by mutual agreement.
(3) Where by reason of the provisions of paragraph
(1) of this Article a person other than an individual is a
resident of both Contracting States, then it shall for the
purposes of this Convention be deemed to be a resident of the
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Contracting State in which its place of effective management
is situated.
ARTICLE 5
PERMANENT ESTABLISHMENT
(1) For the purposes of this Convention, the term
"permanent establishment" means a fixed place of business
through which the business of an enterprise is wholly or
partly carried on.
(2) The term "permanent establishment" includes
especially:
(a) a place of management;
(b) a branch;
(c ) a store or other sales outlet;
(d) an office;
(e) a warehouse in relation to a person
providing storage facilities for others;
(f) a factory;
(g) a workshop;
(h) a mine, an oil or gas well, a quarry or
any other place of extraction of
natural resources.
(3) A building site or construction or installation
project constitutes a permanent establishment only if it lasts
more than twelve months.

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(4) Notwithstanding the preceding provisions of
this Article the term "permanent establishment" shall be
deemed not to include:
(a) the use of facilities solely for the
purpose of storage, display or
delivery of goods or merchandise
belonging to the enterprise;
(b) the maintenance of a stock of goods or
merchandise belonging to the
enterprise solely for the purpose of
storage, display or delivery;
(c) the maintenance of a stock of goods or
merchandise belonging to the
enterprise solely for the purpose of
processing by another enterprise;
(d) the maintenance of a fixed place of
business solely for the purpose of
purchasing goods or merchandise, or
of collecting information, for the
enterprise;
(e) the maintenance of a fixed place of
business solely for the purpose of
carrying on, for the enterprise, any
other activity of a preparatory or
auxiliary character;
(f) the maintenance of a fixed place of
business solely for any combination of
activities mentioned in sub-
paragraphs (a) to (e) of this
paragraph, provided that the overall
activity of the fixed place of business
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resulting from this combination is of a
preparatory or auxiliary character.
(5) Notwithstanding the provisions of paragraphs
(1) and (2) of this Article:
(a) where a person - other than an agent
of an independent status to whom
paragraph (6) of this Article applies -
is acting on behalf of an enterprise
and has, and habitually exercises, in a
Contracting State an authority to
conclude contracts in the name of the
enterprise, that enterprise shall be
deemed to have a permanent
establishment in that State in respect
of any activities which that person
undertakes for the enterprise, unless
the activities of such person are
limited to those mentioned in
paragraph (4) of this Article which, if
exercised through a fixed place of
business, would not make this fixed
place of business a permanent
establishment under the provisions of
that paragraph;

(b) where a person maintains in a
Contracting State equipment or
machinery for rental or other
purposes within such State for a
period, or periods exceeding in the
aggregate twelve months, that
enterprise shall be deemed to have a
permanent establishment in that
Contracting State in respect of that
activity.
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(6) An enterprise shall not be deemed to have a
permanent establishment in a Contracting State merely
because it carries on business in that State through a broker,
general commission agent or any other agent of an
independent status, provided that such persons are acting in
the ordinary course of their business.
(7) The fact that a company which is a resident of a
Contracting State controls or is controlled by a company
which is a resident of the other Contracting State, or which
carries on business in that other State (whether through a
permanent establishment or otherwise), shall not of itself
constitute either company a permanent establishment of the
other.
ARTICLE 6
LIMITATION OF RELIEF
Where under any provision of this Convention any
income or capital gain is relieved from tax in a Contracting
State and, under the law in force in the other Contracting
State a person, in respect of that income or capital gain, is
subject to tax by reference to the amount thereof which is
remitted to or received in that other State and not by reference
to the full amount thereof, then the relief to be allowed under
this Convention in the first-mentioned State shall apply only
to so much of the income or capital gain as is remitted to or
received in the other State.
ARTICLE 7
INCOME FROM IMMOVABLE PROPERTY
(1) Income derived by a resident of a Contracting
State from immovable property (including income from
agriculture or forestry) situated in the other Contracting State
may be taxed in that other State.
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(2) The term" immovable property" shall have the
meaning which it has under the law of the Contracting State
in which the property in question is situated. The term shall
in any case include property accessory to immovable
property, livestock and equipment used in agriculture and
forestry, rights to which the provisions of general law
respecting landed property apply, usufruct of immovable
property and rights to variable or fixed payments as
consideration for the working of, or the right to work, mineral
deposit sources and other natural resources; ships, boats and
aircraft shall not be regarded as immovable property.
(3) The provisions of paragraph (1) of this Article
shall apply to income derived from the direct use, letting, or
use in any other form of immovable property and to profits
from the alienation of such property.
(4) The provisions of paragraphs (1) and (3) of this
Article shall also apply to the income from immovable
property of an enterprise and to income from immovable
property used for the performance of independent personal
services.
ARTICLE 8
BUSINESS PROFITS
(1) The profits of an enterprise of a Contracting
State shall be taxable only in that state unless the enterprise
carries on business in the other Contracting State through a
permanent establishment situated therein. If the enterprise
carries on business as aforesaid, the profits of the enterprise
may be taxed in the other State but only so much of them as is
attributable to that permanent establishment.
(2) Subject to the provisions of paragraph (3),
where an enterprise of a Contracting State carries on business
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in the other Contracting State through a permanent
establishment situated therein, there shall in each Contracting
State be attributed to that permanent establishment the profits
which it might be expected to make if it were a distinct and
separate enterprise engaged in the same or similar activities
under the same or similar conditions and dealing wholly
independently with the enterprise of which it is a permanent
establishment.
(3) In determining the profits of a permanent
establishment, there shall be allowed as deductions expenses
which are incurred for the purposes of the permanent
establishment, including a reasonable allocation of executive
and general administrative expenses incurred for then
purposes of the enterprise as a whole, whether in the
Contracting State in which the permanent establishment is
situated or elsewhere.
(4) No profits shall be attributed to a permanent
establishment by reason of the mere purchase by that
permanent establishment of goods or merchandise for the
enterprise.
(5) Where profits include items of income or
capital gains which are dealt with separately in other Articles
of this Convention, then the provisions of those Articles shall
not be affected by the provisions of this Article.
ARTICLE 9
SHIPPING AND AIR TRANSPORT
(1) Profits derived by a resident of a Contracting
State from the operation of ships or aircraft in international
traffic shall be taxable only in that State.
(2) For the purposes of this Article, profits from the
operation of ships or aircraft in international traffic include:
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(a) income from the rental on a bareboat
basis of ships or aircraft where such
rental is incidental to the operation of
ships or aircraft in international
traffic; and
(b) profits from the use, maintenance or
rental of containers (including trailers,
barges and related equipment for the
transport of containers) used for the
transport of goods or merchandise
where such use, maintenance or
rental, as the case may be, is
incidental to the operation of ships or
aircraft in international traffic.
(3) The provisions of paragraph (1) and (2) of this
Article shall also apply to profits referred to in those
paragraphs derived by a resident of a Contracting State from
its participation in a pool, a joint business, or an international
operating agency.
ARTICLE 10
ASSOCIATED ENTERPRISES
(1) Where:
(a) an enterprise of a Contracting State
participates directly or indirectly in
the management, control or capital of
an enterprise of the other Contracting
State; or
(b) the same persons participate directly
or indirectly in the management,
control or capital of an enterprise of a
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Contracting State and an enterprise of
the other Contracting State, and in
either case conditions are made or
imposed between the two enterprises
in their commercial or financial
relations which differ from those
which would be made between
independent enterprises, then any
profits which, but for those
conditions, would have accrued to
one of the enterprises, may be
included by a Contracting State in the
profits of that enterprise and taxed
accordingly.
(2) Where a Contracting State includes in the
profits of an enterprise of that State - and taxes accordingly -
profits on which an enterprise of the other Contracting State
has been charged to tax in that other State and the profits so
included are profits which would have accrued to the
enterprise of the first-mentioned State if the conditions made
between the two enterprises had been those which would
have been made between independent enterprises dealing at
arm's length then that other State shall make an appropriate
adjustment to the amount of the tax charged therein on those
profits. In determining such adjustment, due regard shall be
had to the other provisions of this Convention and the
competent authorities of the Contracting State shall if
necessary consult each other.
ARTICLE 11
DIVIDENDS
(1) Dividends paid by a company which is a
resident of a Contracting State to a resident of the other
Contracting State may be taxed in that other State.

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(2) However, such dividends may also be taxed in
the Contracting State of which the company paying the
dividends is a resident and according to the laws of that State,
but if the recipient is the beneficial owner of the dividends the
tax so charged shall not exceed:
(a) 10 per cent of the gross amount of the
dividends if the beneficial owner is a
company which controls, directly or
indirectly, at least 10 per cent of the
voting power in the company paying
the dividends;
(b) 15 per cent of the gross amount of the
dividends in all other cases.
(3) The term "dividends" as used in this Article
means income from shares, or other rights, not being debt-
claims, participating in profits, as well as income from other
corporate rights assimilated to income from shares by the
taxation laws of the State of which the company making the
distribution is a resident and also includes any other item
which, under the laws of the Contracting State of which the
company paying the dividends is a resident, is treated as a
dividend or distribution of a company.
(4) The provisions of paragraphs (1) and (2) of this
Article shall not apply if the beneficial owner of the
dividends, being a resident of a Contracting State, carries on
business in the other Contracting State of which the company
paying the dividends is a resident, through a permanent
establishment situated therein, or performs in that other State
independent personal services from a fixed base situated
therein, and the holding in respect of which the dividends are
paid is effectively connected with such permanent
establishment or fixed base. In such case the provisions of
Article 8 or Article 16 of this Convention, as the case may be,
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shall apply.
(5) Where a company which is a resident of a
Contracting State derives profits or income from the other
contracting State, that other State may not impose any tax on
the dividends paid by the company, except in so far as such
dividends are paid to a resident of that other State or in so far
as the holding in respect of which the dividends are paid is
effectively connected with a permanent establishment or a
fixed base situated in that other State, nor subject the
companies undistributed profits to tax, even if the dividends
paid or the undistributed profits consist wholly or partly of
profits or income arising in that other State.
ARTICLE 12
INTEREST
(1) Interest arising in a Contracting State and paid
to a resident of the other Contracting State may be taxed in
that other State.
(2) However, such interest may also be taxed in the
Contracting State in which it arises and according to the laws
of that State, but if the recipient is the beneficial owner of the
interest the tax so charged shall not exceed 15 per cent of the
gross amount of the interest.
(3) The term "interest" as used in this Article means
income from debt-claims of every kind, whether or not
secured by mortgage and whether or not carrying a right to
participate in the debtor's profits, and in particular, income
from government securities and income from bonds or
debentures. The term "interest" shall not include any item
which is treated as a distribution under the provisions of
Article 11 of this Convention.
(4) The provisions of paragraphs (1) and (2) of this
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Article shall not apply if the beneficial owner of the interest,
being a resident of a Contracting State, carries on business in
the other Contracting State in which the interest arises,
through a permanent establishment situated therein, or
performs in that other State independent personal services
from a fixed base situated therein, and the debt-claim in
respect of which the interest is paid is effectively connected
with such permanent establishment or fixed base. In such case
the provision of Article 8 or Article 16 of this Convention, as
the case may be, shall apply.
(5) Interest shall be deemed to arise in a
Contracting State when the payer is that State itself, a political
subdivision, a local authority or a resident of that State.
Where, however, the person paying the interest, whether he is
a resident of a Contracting State or not, has in a Contracting
State a permanent establishment or a fixed base in connection
with which the indebtedness on which the interest is paid was
incurred, and such interest is borne by such permanent
establishment or fixed base, then such interest shall be
deemed to arise in the State in which the permanent
establishment or fixed base is situated.
(6) Where, by reason of a special relationship
between the payer and the beneficial owner or between both
of them and some other person, the amount of the interest
paid exceeds, for whatever reason, the amount which would
have been agreed upon by the payer and the beneficial owner
in the absence of such relationship, the provisions of this
Article shall apply only to the last-mentioned amount of
interest. In such case, the excess part of the payments shall
remain taxable according to the laws of each Contracting
State, due regard being had to the other provisions of this
Convention.
(7) Any provision in the laws of either Contracting
State relating only to interest paid to a non-resident company
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shall not operate so as to require such interest paid to a
company which is a resident of the other Contracting State to
be treated as a distribution or dividend by the company
paying such interest. The preceding sentence shall not apply
to interest paid to a company which is a resident of one of the
Contracting States in which more that 50 percent of the voting
power is controlled, directly or indirectly, by a person or
persons who are residents of the other Contracting State.
(8) The relief from tax provided for in paragraph
(2) of this Article shall not apply if the beneficial owner of the
interest:
(a) is exempt from tax on such income in
the Contracting State of which he is a
resident; and
(b) sells or makes a contract to sell the
holding from which such interest is
derived within three months of the
date such beneficial owner acquired
such holding.
(9) The provisions of this Article shall not apply if
it was the main purpose or one of the main purposes of any
person concerned with the creation or assignment of the debt-
claim in respect of which the interest is paid to take
advantage of this Article by means of that creation or
assignment.
(10) Notwithstanding the provisions of paragraph
(2) of this Article, interest arising in a Contracting State shall
be exempt from tax in that State if it is derived and
beneficially owned by the Government of the other
Contracting State or a local authority thereof or any agency or
instrumentality of that Government or local authority.

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(11) Notwithstanding the provisions of article 8 of
this Convention and of paragraph (2) of this Article, interest
arising in Guyana which is paid to and beneficially owned by
a resident of the United Kingdom shall be exempt from tax in
Guyana if it is paid in respect of a loan made, guaranteed or
insured, or any other debt-claim or credit guaranteed or
insured by the United Kingdom Export Credits Guarantee
Department.
ARTICLE 13
ROYALTIES
(1) Royalties arising in a Contracting State and
paid to a resident of the other Contracting State may be taxed
in that other State.
(2) However, such royalties may also be taxed in
the Contracting State in which they arise and according to the
laws of that State, but if the recipient is the beneficial owner of
the royalties the tax so charged shall not exceed 10 percent of
the gross amount of the royalties.
(3) The term "royalties" as used in this Article
means payments of any kind received as a consideration for
the use of, or the right to use, any copyright of literary, artistic
or scientific work (but not including cinematograph films,
and films or tapes for radio or television broadcasting), any
patent, trademark, design, or model, plan, secret formula or process.
(4) The provisions or paragraphs (1) and (2) of this
Article shall not apply if the beneficial owner of the royalties,
being a resident of a Contracting State carries on business in
the other Contracting State through a permanent
establishment situated therein, or performs in that other State
independent personal services from a fixed base situated
therein, and the right or property in respect of which the
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royalties are paid is effectively connected with such
permanent establishment or fixed base. In such case the
provisions of Article 8 or Article 16, of this Convention, as the
case may be, shall apply.
(5) Royalties shall be deemed to arise in a
Contracting State where the payer is that State itself, a
political subdivision, a local authority or a resident of that
State. Where, however, the person paying the royalties,
whether he is a resident of a Contracting State or not, has in a
Contracting State a permanent establishment or fixed base in
connection with which the obligation to pay the royalties was
incurred, and such royalties are borne by such permanent
establishment or fixed base, then such royalties shall be
deemed to arise in the Contracting State in which the
permanent establishment or fixed base is situated.
(6) Where, by reason of a special relationship
between the payer and the beneficial owner or between both
of them and some other person, the amount of the royalties
paid exceeds, for whatever reason, the amount which would
have been agreed upon by the payer and the beneficial owner
in the absence of such relationship, the provisions of this
Article shall apply only to the last-mentioned amount. In such
case, the excess part of the payments shall remain taxable
according to the laws of each Contracting State, due regard
being had to the other provisions of this Convention.
(7) The provisions of the Article shall not apply if it
was the main purpose or one of the main purposes of any
person concerned with the creation or assignment of the
rights in respect of which the royalties are paid to take
advantage of this Article by means of that creation or
assignment.
ARTICLE 14
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TECHNICAL FEES
(1) Technical fees arising in a Contracting State and
paid to a resident of the other Contracting State may be taxed
in that other State.
(2) However, such technical fees may also be taxed
in the Contracting State in which they arise and according to
the law of that State, but if the recipient is the beneficial
owner of the technical fees the tax so charged shall not
exceed:
(a) 10 percent of the gross amount of
those fees; or
(b) in the case of the fees arising in
Guyana, where the Minister of
Finance applies Section 39(10) of the
Income Tax Act, Chapter 81:01, (or
any re-enactment thereof without
substantial modification), such
smaller percentage of the gross
amount of those fees as may be
agreed between the recipient and the
Government of Guyana.
(3) The term "technical fees" as used in this Article
means payments of any kind to any person, other than to an
employee of the person making the payments, in
consideration for any services of a technical, managerial or
consultancy nature.
(4) The provisions of paragraphs (1) and (2) of this
Article shall not apply if the beneficial owner of the technical
fees, being a resident of a Contracting State, carries on
business in the other Contracting State in which the technical
fees arise, through a permanent establishment situated
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therein, or performs in that other State independent personal
services from a base situated therein, and the technical fees
are effectively connected with such permanent establishment
or fixed base. In such case the provisions of Article 8 or
Article 16 of this Convention, as the case may be, shall apply.
(5) Technical fees shall be deemed to arise in a
Contracting State when the payer is that State itself, a political
subdivision, a local authority or a resident of that State.
Where, however, the person, paying the technical fees,
whether he is a resident of a Contracting State or not, has in a
Contracting State a permanent establishment or a fixed base
in connection with which the obligation to pay the technical
fees was incurred, and such technical fees are borne by that
permanent establishment, or fixed base, then such technical
fees shall be deemed to arise in the Contracting State in which
the permanent establishment or fixed base is situated.
(6) Where, by reason of a special relationship
between the payer and the beneficial owner or between both
of them and some other person, the amount of the technical
fees paid exceeds, for whatever reason, the amount which
would have been agreed upon by the payer and the beneficial
owner in the absence of such relationship, the provisions of
this Article shall apply only to the last-mentioned amount. In
such case, the excess part of the payments shall remain
taxable according to the laws of each Contracting State, due
regard being had to the other provisions of this Convention.
(7) The provisions of this Article shall not apply if
it was the main purpose or one of the main purposes of any
person concerned with the creation or assignment of the
rights in respect of which the technical fees are paid to take
advantage of this Article by means of that creation or
assignment.
ARTICLE 15
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CAPITAL GAINS
(1) Subject to the provisions of paragraph (2) of
this Article, each Contracting State may tax capital gains in
accordance with the provisions of its domestic law.
(2) Gains from the alienation of ships or aircraft
operated in international traffic by an enterprise of a
Contracting State or movable property pertaining to the
operation of such ships or aircraft, shall be taxable only in the
Contracting State in which the person operating the ship or
aircraft is a resident.
ARTICLE 16
INDEPENDENT PERSONAL SERVICES
(1) Income derived by a resident of a Contracting
State in respect of professional services or other activities of
an independent character shall be taxable only in that State
unless he has or had a fixed base regularly available to him in
the other Contracting State for the purpose of performing his
activities. If he has or had such a fixed base, the income may
be taxed in the other State but only so much of it as is
attributable to that fixed base.
(2) The term "professional services" includes
especially independent scientific, literary, artistic, educational
or teaching activities of physicians, lawyers, engineers,
architects, dentists and accountants.
ARTICLE 17
DEPENDENT PERSONAL SERVICES
(1) Subject to the provisions of Articles 18, 20 and
21 of this Convention, salaries, wages and other similar
remuneration derived by a resident of a Contracting State in
respect of an employment shall be taxable only in that State
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unless the employment is exercised in the other Contracting
State. If the employment is so exercised, such remuneration as
is derived therefrom may be taxed in that other State.
(2) Notwithstanding the provisions of paragraph
(1) of this Article, remuneration derived by a resident of a
Contracting State in respect of an employment exercised in
the other Contracting State shall be taxable only in the first-
mentioned State if:
(a) the recipient is present in the other
State for a period or periods not
exceeding in the aggregate 183 days in
any period of 12 months; and
(b) the remuneration is paid by, or on
behalf of, an employer who is not a
resident of the other State; and
(c) such remuneration is not deducted
from the profits of a permanent
establishment or a fixed base which
the employer has in the other State.
(3) Notwithstanding the preceding provisions of
this Article, remuneration derived in respect of an
employment exercised aboard a ship or aircraft operated in
international traffic may be taxed in the contracting State in
which the person operating the ship or aircraft is a resident.
ARTICLE 18
DIRECTORS' FEES
Directors' fees and other similar payments derived by a
resident of a Contracting State in his capacity as a member of
the board of directors of a Company which is a resident of the
other Contracting State may be taxed in that other State.
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ARTICLE 19
ARTISTES AND ATHLETES
(1) Notwithstanding the provisions of Article 16
and Article 17 of this Convention, income derived by a
resident of a Contracting State as an entertainer, such as
theatre, motion picture, radio or television artiste, or a
musician, or as an athlete, from his personal activities as such
exercised in the other Contracting State, may be taxed in that
other State.
(2) Where income in respect of personal activities
exercised by an entertainer or an athlete in his capacity as
such accrues not to the entertainer or athlete himself but to
another person, that income may, notwithstanding the
provisions of Articles 8, 16 and 17 of this Convention, be
taxed in the Contracting State in which the activities of the
entertainer or athlete are exercised.
(3) The provisions of paragraphs (1) and (2) shall
not apply if the visit of the entertainers or athletes to a
Contracting State is supported wholly or substantially from
public funds of the other Contracting State, a political
subdivision or a local authority thereof.
ARTICLE 20
PENSIONS
(1) Subject to the provisions of paragraph (2) of
Article 21 of this Convention, pensions and other similar
remuneration paid in consideration of past employment to a
resident of a Contracting State and any annuity paid to such a
resident shall be taxable only in that State.
(2) The term "annuity" means a stated sum payable
periodically at stated times during life or during a specified or
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ascertainable period of time under an obligation to make the
payments in return for adequate and full consideration in
money or money's worth.
(3) Alimony and other similar payments arising in
a contracting State and paid to a resident of the other
Contracting State, who is subject to tax therein in respect
thereof, shall be taxable only in that other State.
ARTICLE 21
GOVERNMENT SERVICE
(1) (a) Remuneration, other than a pension,
paid by a Contracting State or a
political subdivision or a local
authority thereof to an individual in
respect of services rendered to that
State or subdivision or authority shall
be taxable only in that State.
(b) Notwithstanding the provisions of
sub-paragraph (l) (a) of this Article,
such remuneration shall be taxable
only in the other Contracting State if
the services are rendered in that state
and the individual is a resident of that
State who:
(i) is a national of that State; or
(ii) did not become a resident of
that State solely for the purpose
of rendering the services.
(2) (a) Any pension paid by, or out of funds
created by a Contracting State or a political subdivision or a
local authority thereof to an individual in respect of services
rendered to that State or subdivision or authority shall be
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taxable only in that State.
(b) Notwithstanding the provisions of
sub-paragraph (2) (a) of this Article,
such pension shall be taxable only in
the other contracting State if the
individual is a resident and a national
of that State.
(3) The provisions of this Article shall not apply to
remuneration and pensions in respect of services rendered in
connection with a business carried on by a Contracting State
or a political sub-division or a local authority thereof.
ARTICLE 22
STUDENTS AND TRAINEES
Payments which a student, apprentice or business trainee
who is, or was immediately before visiting a Contracting
State, a resident of the other Contracting State and who is
present in the first-mentioned State solely for the purpose of
his education or training receives for the purpose of his
maintenance, education or training shall not be taxed in that
State, provided that such payments arise from sources outside
that State.
ARTICLE 23
OTHER INCOME
Items of income beneficially owned by a resident of a
Contracting State, wherever arising, other than income paid
out of trusts or the estates of deceased persons in the course of
administration, not dealt with in the foregoing Articles of this
Convention shall be taxable only in that State.
ARTICLE 24
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ELIMINATION OF DOUBLE TAXATION
(1) Subject to the provisions of the law of the
United Kingdom regarding the allowance as a credit against
United Kingdom tax of tax payable in a territory outside the
United Kingdom (which shall not affect the general principle
hereof):
(a) Guyana tax payable under the laws of
Guyana and in accordance with this
Convention, whether directly or by
deduction, on profits, income or
chargeable gains from sources within
Guyana (excluding in the case of a
dividend, tax payable in respect of the
profits out of which the dividend is
paid) shall be allowed as a credit
against any United Kingdom tax
computed by reference to the same
profits, income, or chargeable gains
by reference to which the Guyana tax
is computed;
(b) in the case of a dividend paid by a
company which is a resident of
Guyana to a company which is a
resident of the United Kingdom and
which controls directly or indirectly at
least 10 per cent of the voting power
in the company paying the dividend
the credit shall take into account (in
addition to any Guyana tax for which
credit may be allowed under the
provisions of subparagraph (a) of this
paragraph the Guyana tax payable by
the company in respect of the profits
out of which such dividend is paid.
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Provided that this paragraph shall not apply to a
company which is a resident of the United Kingdom and is
Petroleum Company as defined for the purposes of Schedule
9 to the Oil Taxation Act 1975.
(2) In the case of Guyana, double taxation shall be
avoided as follows:
Subject to the provisions of the law of Guyana regarding
the allowance as a credit against Guyana tax of tax payable in
a territory outside Guyana (which shall not affect the general
principle hereof), the United Kingdom tax payable under the
laws of the United Kingdom and in accordance with this
Convention (excluding in the case of a dividend, tax payable
on the profits or income of the company paying the dividend)
whether by deduction from, or under a computation
measured by reference to profits or income from sources
within the United Kingdom, shall be allowed as a credit
against any Guyana tax computed by reference to the same
profits or income by reference to which the United Kingdom
tax is computed. Where such income is a dividend paid by a
company which is a resident of the United Kingdom to a
company which is a resident of Guyana and which controls
directly or indirectly not less than 25 per cent of the voting
power in the United Kingdom company, the credit shall take
into account (in addition to any United Kingdom tax payable
in respect of the dividend) the United Kingdom tax payable
by the company in respect of the profits out of which such
dividend is paid.
(3) For the purposes of paragraph (1) of this
Article, the term "Guyana tax payable" shall be deemed to
include any amount which would have been payable as
Guyana tax for any year but for an exemption or reduction of
tax granted for that year on any part thereof under any of the
following provisions of Guyana law;
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(a) (i) Section 2(1) and (3) of the
Income Tax (in Aid of Industry)
Act, Chapter 81:02 of 1973;
(ii) Section 91 of the Income Tax
Act, Chapter 81:01 when
exercised in respect of
dividends paid out of profits
which were exempted from tax
under Section 2(1) and (3) of the
Income Tax (In Aid of Industry)
Act Chapter 81:02 of 1973 so far
as they were in force on, and
have not been modified since,
the date of signature of this
Convention, or have been
modified only in minor respects
so as not to affect their general
character; or
(b) any other provision which may
subsequently be made granting an
exemption or reduction of tax which
is agreed by the competent authorities
of the Contracting States to be of a
substantially similar character, if it
has not been modified thereafter or
has been modified only in minor
respects so as not to affect its general
character:
Provided that relief from the United Kingdom tax shall
not be given by virtue of this paragraph in respect of income
from any source if the income arises in a period starting more
than ten years after the exemption from, or reduction of,
Guyana tax was first granted in respect of that source.

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(4) For the purposes of paragraphs (1) and (2) of
this Article, profits, income and capital gains owned by a
resident of a Contracting State which may be taxed in the
other Contracting State in accordance with this Convention
shall be deemed to arise from sources in that other contracting
State.
ARTICLE 25
NON-DISCRIMINATION
(1) Nationals of a Contracting State shall not be
subjected in the other Contracting State to any taxation or any
requirement connected therewith, which is other or more
burdensome than the taxation and connected requirements to
which nationals of that other State in the same circumstances
are or may be subjected.
(2) The taxation on a permanent establishment
which an enterprise of a Contracting State has in the other
Contracting State shall not be less favourably levied in that
other state than the taxation levied on enterprises of that other
State carrying on the same activities.
(3) Except where the provisions of Article 10,
paragraph (6) of Article 12, paragraph (6) of Article 13, or
paragraph (6) of Article 14 of this Convention apply, interest,
royalties and other disbursement paid by an enterprise of a
Contracting State to a resident of the other Contracting State
shall, for the purpose of determining the taxable profits of
such enterprise, be deductible, under the same conditions as if
they had been paid to a resident of the first mentioned State.
(4) Enterprises of a Contracting State, the capital of
which is wholly or partly owned or controlled, directly or if
indirectly, by one or more residents of the other Contracting
State, shall not be subjected in the first-mentioned State to any
taxation or any requirements connected therewith which is
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other or more burdensome than the taxation and connected
requirements to which other similar enterprises of the first-
mentioned State are or may be subjected.
(5) Nothing contained in this Article shall be
construed as obliging either Contracting State to grant to
individuals not resident in that State any of the personal
allowances, relief and reductions or tax purposes which are
granted to individuals so resident or to its nationals.
(6) The provisions of this Article shall apply to the
taxes which are the subject of this Convention.
ARTICLE 26
MUTUAL AGREEMENT PROCEDURE
(1) Where a resident of a Contracting State
considers that the actions of one or both of the Contracting
States result or will result for him in taxation not in
accordance with the provisions of this Convention, he may,
irrespective of the remedies provided by the domestic law of
those States, present his case to the competent authority of the
Contracting State of which he is a resident.
(2) The competent authority shall endeavour, if the
objection appears to it to be justified and if it is not itself able
to arrive at a satisfactory solution, to resolve the case by
mutual agreement with the competent authority of the other
Contracting State, with a view to the avoidance of taxation
not in accordance with the Convention.
(3) The competent authorities of the Contracting
States shall endeavour to resolve by mutual agreement any
difficulties or doubts arising as to the interpretation or
application of the Convention.
(4) The competent authorities of the Contracting
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States may communicate with each other directly for the
purpose of reaching an agreement in the sense of the
preceding paragraphs.
ARTICLE 27
EXCHANGE OF INFORMATION
(1) The competent authorities of the Contracting
States shall exchange such information as is necessary for
carrying out the provisions of this Convention or of the
domestic laws of the Contracting States concerning taxes
covered by this Convention in so far as the taxation
thereunder is not contrary to this Convention, in particular to
prevent fraud and to facilitate the administration of statutory
provisions against legal avoidance. Any information received
by a Contracting State shall be treated as secret and shall be
disclosed only to persons or authorities (including courts and
administrative bodies) involved in the assessment or
collection of, the enforcement or prosecution in respect of, or
the determination of appeals in relation to, the taxes covered
by this Convention. Such persons or authorities shall use the
information only for such purposes. They may disclose the
information in public court proceedings or in judicial
decisions.
(2) In no case shall the provisions of paragraph (1)
of this Article be construed so as to impose on the competent
authority of either Contracting State the obligation:
(a) to carry out administrative measures
at variance with the laws and
administrative practice prevailing in
either Contracting State;
(b) to supply information which is not
obtainable under the laws or in the
normal course of the administration
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of either Contracting State;
(c) to supply information which would
disclose any trade, business,
industrial, commercial or professional
secret or trade process, or information
the disclosure of which would be
contrary to public policy.
ARTICLE 28
MEMBERS OF DIPLOMATIC OR PERMANENT
MISSIONS AND CONSULAR POSTS
(1) Nothing in this Convention shall affect any
fiscal privileges accorded to members of diplomatic or
permanent missions or consular posts under the general rules
of international law or under the provisions of special
agreements.
(2) Notwithstanding the provisions of paragraph
(1) of Article 4, of this Convention an individual who is a
member of a diplomatic or permanent mission or consular
post of a Contracting State or of any third state which is
situated in the other Contracting State or who is an official of
an international organisation, and any member of the family
of such an individual shall not be deemed to be a resident of
the other State if he is subject to tax on income or capital gains
in that other State only if he derived income or capital gains
from sources therein.
ARTICLE 29
ENTRY INTO FORCE
(1) Each of the Contracting States shall notify to the
other, through diplomatic channels, the completion of the
procedures required by its law for the bringing into force of
this Convention. This Convention shall enter into force on the
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date of the later of these notifications and shall thereupon
have effect;
(a) in the United Kingdom:
(i) in respect of income tax and
capital gains tax, for any year of
assessment beginning on or
after April 6 in the calendar
year next following that in
which the later of these
notifications is given;
(ii) in respect of corporation tax,
for any financial year beginning
on or after April 1 in the
calendar year next following
that in which the later of these
notifications is given;
(b) in Guyana:
(i) with respect to tax withheld at
the source on amounts paid,
credited or remitted to non¬-
residents on or after the first
day of January in the calendar
year in which the later of these
notifications is given; and
(ii) with respect to other Guyana
tax for the year of income
commencing January 1 in the
calendar year in which the later
of these notification is given.
ARTICLE 30
TERMINATION

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This Convention shall remain in force until terminated by
one of the contracting States. Either Contracting State may
terminate this Convention by giving notice of termination,
through diplomatic channels, at least six months before the
end of the end of any calendar year after the expiration of five
years from the date of entry into force of the Convention. In
such event, this Convention shall cease to have effect:
(a) in the United Kingdom:
(i) in respect of income tax and
capital gains tax, for any year of
assessment beginning on or
after April 6 in the calendar
year next following that in
which the notice is given;
(ii) in respect of corporation tax,
for any financial year beginning
on or after 1st April in the
calendar year next following
that in which the notice is
given;
(b) in Guyana:
(i) with respect to tax withheld at
the source on amounts paid,
credited or remitted to non-
residents on or after January
1st, in the calendar year next
following that in which such
notice is given;
(ii) with respect to other Guyana
tax for the year of income
commencing January 1st, in the
calendar year next following
that in which such notice is
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O. 35/1992
Citation.

Declaration by
Minister that
Exchange of
Information
Agreement
with United
States of
America in
relation to
Income Tax
shall have
effect.
given.
In witness whereof the undersigned, duly authorised
thereto by their respective Governments, have signed this
Convention.
Done in duplicate at Georgetown, this 31st day of
August, 1992.
__________________
INCOME TAX (EXCHANGE OF INFORMATION)
(UNITED STATES OF AMERICA) ORDER
made under section 92A
1. This order may be cited as the Income Tax
(Exchange of Information) (United States of America) Order
and shall come into operation upon an exchange of notes by
the Contracting States in accordance with Article 6 of the
Agreement in the Schedule.
2. I hereby declare that the Agreement, set out in the
Schedule, between the Government of the United States of
America and the Government of the Co-operative Republic of
Guyana for the exchange of information with respect to
income tax shall have effect in accordance with its terms
throughout and for its duration notwithstanding anything in
any other written law.
__________
Income Tax (Exchange of Information) (United States of America) Order
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SCHEDULE
AGREEMENT BETWEEN THE GOVERNMENT OF THE
UNITED STATES OF AMERICA AND THE
GOVERNMENT OF THE CO-OPERATIVE REPUBLIC OF
GUYANA FOR THE EXCHANGE OF INFORMATION
WITH RESPECT TO TAXES.
The Government of the United States of America and the
Government of the Co-operative Republic of Guyana,
desiring to conclude an Agreement for the exchange of
information with respect to taxes (hereinafter referred to as
the "Agreement"), have agreed as follows:
ARTICLE 1
TAXES COVERED
1. This Agreement shall apply to the following taxes
imposed by or on behalf of a Contracting State.
(a) in the case of the United States of
America.
(i) Federal income taxes
(ii) Federal taxes on self-
employment income;
(iii) Federal taxes on transfers to
avoid income tax;
(iv) Federal estate and gift taxes;
and
(v) Federal excise taxes;
(b) in the case of the Co-operative
Republic of Guyana,
(i) Income tax;
(ii) Corporation tax;
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(iii) Property tax;
(iv) Capital gains tax;
2. This Agreement shall apply also to any identical or
substantially similar taxes imposed after the date of signature
of the Agreement in addition to or in place of the existing taxes. The competent authority of each Contracting State shall
notify the other of significant changes in laws which may
affect the obligations of that State pursuant to this Agreement.
3. This Agreement shall not apply to the extent that an
action or proceeding concerning taxes covered by this
Agreement is barred by the applicant State's statute of
limitations.
4. This Agreement shall not apply to taxes imposed by
states, municipalities or other political subdivisions, or
possessions of a Contracting State.
ARTICLE 2
DEFINITIONS
1. In this Agreement, unless otherwise defined:
(a) The term "competent authority"
means:
(i) in the case of the United States
of America, the Secretary of the
Treasury or his delegate, and
(ii) in the case of the Co-operative
Republic of Guyana, the
Minister of Finance or his
authorised representative.
(b) The term "national" means:

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(i) in the case of the United States,
any individual who is a citizen
of the United States and any
person other than an individual
deriving its status as such from
the laws of the United States or
any political sub-division
thereof; and
(ii) in the case of the Co-operative
Republic of Guyana, any
individual who is a citizen of
the Co-operative Republic of
Guyana and any person other
than an individual deriving its
status as such from the laws of
the Co-operative Republic of
Guyana.
(c) The term "person" includes an
individual, a partnership, a
corporation, an estate, a trust,
association or other legal entity.
(d) The term "tax" means any tax to
which the Agreement applies.
(e) The terms "applicant State" and
"requested State" mean, respectively,
the Contracting State applying for or
receiving information and the
Contracting State providing or
requested to provide such
information.
(f) For purposes of determining the
geographical area within which
jurisdiction to compel production of
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information may be exercised, the
term "United States" means the
United States of America, including
Puerto Rico, the Virgin Islands,
Guam, and any other United States
possession or territory, and the
territorial waters thereof.
(g) For purposes of determining the
geographical area within which
jurisdiction to compel production of
information may be exercised the
term "Guyana" means the Co-
operative Republic of Guyana and the
territorial waters thereof.
(h) The term "Contracting State" means
the United States or Guyana as the
context requires.
2. Any term not defined in this Agreement unless the
context otherwise requires or the competent authorities agree
to a common meaning pursuant to the provisions of Article 4,
shall have the meaning which it has under the laws of the
Contracting State relating to the taxes which are the subject to
this Agreement.
ARTICLE 3
EXCHANGE OF INFORMATION
1. The competent authorities of the Contracting States
shall exchange information to administer and enforce the
domestic laws of the Contracting States concerning the taxes
covered by this Agreement to assure the accurate assessment
and collection of taxes to prevent fiscal fraud and evasion,
and to develop improved information sources for tax matters.
Information shall be exchanged to fulfill the purpose of this
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Agreement without regard to whether the information relates
to, or is held by, a resident or national of a Contracting State.
2. The competent authority of the requested State shall
endeavour to provide information upon request by the
competent authority of the applicant State for the purposes
referred to in paragraph 1 of this Article. If the information
available in the tax files of the requested State is not sufficient
to enable compliance with the request, that State shall take all
relevant measures to provide the applicant State with the
information requested. The laws of the respective Contracting
State authorise each State to obtain and provide information
from financial institutions. Privileges under the laws or
practices of the applicant State shall not apply to the
requested State's execution of a request but shall be preserved
for resolution by the applicant State.
3. If the information is requested by a Contracting
State pursuant to paragraph 2 of this Article, the requested
State shall endeavour to obtain the information requested in
the same manner and provide it in the same form, as if the tax
of the applicant State were the tax of the requested State. If
specifically requested, the requested State shall endeavour to
provide information under this Article in the form of
depositions of witnesses and authenticated copies of unedited
original documents (including books, papers, statements,
records, accounts and writings), to the same extent such
depositions and documents can be obtained under the laws
and administrative practices of the requested State with
respect to its own taxes. The applicant State shall specify the
form and manner in which such depositions and documents
shall be authenticated.
4. The provisions of the preceding paragraphs shall
not be construed so as to impose on a Contracting State the
obligation:

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(a) to carry out administrative measures
at variance with the laws and
administrative practice of that State or
of the other Contracting State;

(b) to supply particular items of
information which are not obtainable
under the laws or in the normal
course of the administration of that
State or of the other Contracting State;
(c) to supply information which would
disclose any trade, business,
industrial, commercial or professional
secret or trade process;
(d) to supply information, the disclosure
of which would be contrary to public
policy (order public);
(e) to supply information requested by
the applicant State to administer or
enforce a provision of the tax law of
the applicant State, or any
requirement connected therewith,
which discriminates against a national
of the requested State. A provision of
tax law, or connected requirement,
will be considered to be
discriminatory against a national of
the requested State if it is more
burdensome with respect to a national
of the requested State than with
respect to a national of the applicant
State in the same circumstances. For
the purposes of the preceding
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sentence, a national of the applicant
State who is subject to tax on
worldwide income is not in the same
circumstances as a national of the
requested State who is not subject to
tax on worldwide income. The
provisions of this sub-paragraph shall
not be construed to prevent the
exchange of information with respect
to taxes imposed by the United States
or by Guyana on branch profits or on
the premium income of non-resident
insurers or foreign insurance
companies.
5. Except as provided in paragraph 4 of this Article,
the provisions of the preceding paragraphs shall be construed
so as to impose on a Contracting State the obligation to use all
legal means and its best efforts to execute a request. A
Contracting State may in its discretion, take measures to
obtain and transmit to the other State information which,
pursuant to paragraph 4, it has no obligation to transmit.
6. Any information received by a Contracting State
shall be treated as secret in the same manner as information
obtained under the domestic laws of that State and shall be
disclosed only to individuals or authorities (including judicial
and administrative bodies) involved in the determination,
assessment, collection, and administration of, the recovery
and collection of claims derived from, the enforcement or
prosecution in respect of, or the determination of appeals in
respect of, the taxes which are the subject of this Agreement,
or the oversight of the above. Such individuals or authorities
shall use the information only for such purposes. These
individuals or authorities may disclose the information in
public court proceedings or in judicial decisions. Information
shall not be disclosed to any third jurisdiction for any purpose
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without the consent of the Contracting State originally
furnishing the information.
ARTICLE 4
MUTUAL AGREEMENT PROCEDURE AND COSTS
1. The competent authorities of the Contracting State
shall agree to implement a program to carry out the purposes
of this Agreement.
2. The competent authorities of the Contracting States
shall endeavour to resolve by mutual agreement any
difficulties or doubts arising as to the interpretation or
application of this Agreement and may communicate directly
for this purpose. In particular, the competent authorities may
agree to a common meaning of a term and may determine
when costs are extraordinary for purposes of this Article.
3. Unless the competent authorities of the Contracting
States otherwise agree, ordinary costs incurred in providing
assistance shall be borne by the requested State and
extraordinary costs incurred in providing assistance shall be
borne by the applicant State.
ARTICLE 5
OTHER APPLICATIONS OF THE AGREEMENT
This Agreement is consistent with the standards for an
exchange of information agreement described in Section 274
(h)(6)(C) of the United States Internal Revenue Code of 1986
(the Code) (relating to deductions for attendance at foreign
conventions), and referred to by cross-reference in Section 927
(e)(3)(A) of the Code (relating to foreign sales corporations),
and Section 936 (d)( 4) relating to Puerto Rico and the
possession tax credit).

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ARTICLE 6
ENTRY INTO FORCE
This Agreement shall enter into force upon an exchange
of notes by the duly authorised representatives of the
Contracting States confirming their mutual agreement that
both sides have met all constitutional and statutory
requirements necessary to effectuate this Agreement.
ARTICLE 7
TERMINATION
This Agreement shall remain in force until terminated by
one of the Contracting States. Either Contracting State may
terminate the Agreement at any time after the Agreement
enters into force provided that at least 6 months prior notice
of termination has been given through diplomatic channels.
____________________
Reg. 4/1949

Citation.

Interpretation.
INCOME TAX (GOLD AND DIAMOND MINING)
REGULATIONS
(made under section 32)
1. (1) These Regulations may be cited as the Income
Tax (Gold and application Diamond Mining) Regulations,
and shall apply to any gold or diamond mining company.
(2) These Regulations shall come into operation on
5th March, 1949.
2. In these Regulations "the appointed day" means—
(a) in the case of a gold or diamond
mining company which has been
Income Tax (Gold and Diamond Mining) Regulations
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s. 8 (13 of 1996)
assessed to and has paid income tax
in Guyana prior to the
commencement of these Regulations, ,
the day on which these Regulations
come into operation;
(b) in the case of any other gold or
diamond mining company, the day
appointed by the Commissioner-
General in accordance with regulation
3;
"exploration and development expenditure" means—
(a) any expenditure incurred in
surveying, drilling, prospecting,
geological reconnaissance and
otherwise making preliminary tests
with a view to finding or locating a
suitable spot for the beginning of
mining, or, if mining has previously
been carried on or had been
abandoned, for the beginning of any
further mining;
(b) any expenditure of a development
nature including expenditure on the
sinking of shafts, the making of
tunnels, the construction and
maintenance of any roadways for
purposes of transport or
communications to and from any
mines, the construction and
maintenance of air landing strips, and
any other mining expenses incurred
in preparation for the production of
Income Tax (Gold and Diamond Mining) Regulations

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Issuing of
certificate by
the
Commissioner.
s.8 (13 of 1996)
s.8 (13 of 1996)
s.8 (13 of 1996)

Allowance of
gold or diamonds which, in the
opinion of the Commissioner-General
is just and reasonable;
(c) any expenses incurred in
experimental research work;
(d) any expenditure on buildings, plant,
machinery or equipment of any
nature used or employed in the
business of mining.
3. (1) When, in the opinion of the Commissioner of
Geological Surveys and Mines, production of gold or
diamonds by a company has begun, he shall issue a certificate
addressed to the Commissioner-General stating the name of
the company and the date on which production began:
Provided that in determining such date the
Commissioner of Geological Surveys and Mines shall not take
into account production from any plant which, in his opinion,
is an experimental or pilot plant.
(2) On receipt of a certificate issued under
paragraph (1), the Commissioner-General shall appoint a day
on which the gold and diamond mining business of the
company mentioned in the certificate shall be deemed to have
come into production, and may, in appointing such day,
allow a period of six months from the date stated in the
certificate for the purpose of tuning up, adjustments and
absorption.
(3) The Commissioner-General shall give notice in
writing of the appointed day to the company mentioned in
the certificate.

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expenditure
from
changeable
income.

Allowance of
wear and tear
etc.
4. In ascertaining the chargeable income of any
company to which these expenditure Regulations apply,
expenditure incurred in any mine on or after the from
appointed day on work of a developmental nature other than
chargeable expenditure on shafts, main tunnels or haulage
ways and other work of income capital nature, may be
allowed as a deduction to the full amount of such
expenditure.
5. (1) In ascertaining the chargeable income of any
company to wear and tear, which these Regulations apply
there may be allowed as a deduction for exhaustion, wear and
tear—

(a) in respect of exploration and
development expenditure incurred
prior to the appointed day, twenty
percent per annum of such
expenditure until it is completely
written off.
(b) in respect of exploration and
development expenditure incurred on
or after the appointed day for the
opening of any new mine, twenty
percent per annum of the annual
amount of such expenditure until it is
completely written off.
(c) in respect of capital expenditure
incurred on or after the appointed
day, twenty percent per annum of the
annual amount of such expenditure
until it is completely written off.
(d) in respect of exhaustion of property,
twenty percent per annum of any sum
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s.8 (13 of 1996)
paid prior to, on or after the
appointed day for the acquisition of
land in which the mine is situated or
the acquisition of any right by way of
lease or concession over such land:
Provided that where the Commissioner-General is of
opinion that the sum paid, whether in cash or by means of an
issue of the company's shares or otherwise, is excessive,
having regard to the property acquired and to the other
circumstances of the case, he may, if he thinks fit, make such
adjustment with regard to the sum paid as, in his opinion, is
just and reasonable.
(2) No expenditure allowed as a deduction under
any of the heads of expenditure set forth in paragraph (1)
shall be again allowed as a deduction under any other head in
any year.
(3) Where any property or asset of any description
is sold or otherwise disposed of, no deduction for exhaustion
or wear and tear of such property or asset shall be made after
the date of sale or other disposal.
(4) In the application of this regulation to a
company which has been assessed to and has paid income tax
in Guyana prior to the commencement of these regulations—
(a) the amount of exploration and
development expenditure incurred
prior to the appointed day shall be
deemed to be the amount of such
expenditure as reduced by any
amount thereof previously allowed to
be written off for income tax
purposes; and
(b) the sum paid for the acquisition of
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Calculation
when rate is
lower than
20%.
land in which the mine is situated or
the acquisition of any right by way of
lease or concession over such land
shall be deemed to be the sum so paid
as reduced by any amount previously
allowed to be written off for income
tax purposes.
6. Notwithstanding anything to the contrary
contained in Regulation 5 it is hereby provided that—
(a) where a company to which these
Regulations apply adopts, in any
year, a rate lower than twenty percent
per annum for exhaustion or wear
and tear of any property or
expenditure which under regulation 5
may be written off at a rate not
exceeding twenty percent per annum,
then, for the purpose of ascertaining
the chargeable income of such
company for that year, such
exhaustion or wear and tear shall be
calculated at the rate adopted by the
company;

(b) where a company to which these
Regulations apply pays a dividend in
any year and in arriving at the income
out of which the dividend is paid the
company has taken as income any
part or the whole of the provision for
exhaustion or wear and tear which
has been allowed as a deduction in
that year or the years preceding for
the purpose of ascertaining its
chargeable income, then, the amount
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Income on sales
of property etc.
of such provisions so taken as income
and paid as dividend shall be deemed
to constitute chargeable income of the
company for the year in which the
dividend is paid:
Provided that the written down value of the assets of the
company shall for income tax purposes be increased by an
amount equal to the amount so deemed to constitute
chargeable income of the company and such increase may be
written off and allowed as a deduction at the rate of twenty
percent per annum.
7. Where a company to which these Regulations
apply, in any year, sells, leases for a lump sum payment or
otherwise disposes of the whole, or any part of, any property
or other asset of any description in respect of which a
deduction has been allowed under Regulation 5 for
exhaustion or wear and tear, then, any excess of the price at
which such property or asset is sold, leased, or otherwise
disposed of over the written down value of such property or
asset for income tax purposes at the time of sale, lease or other
disposal, shall be deemed to constitute income of the
company for the year in which the sale, lease or other disposal
takes place:
Provided that—
(a) if the price at which any property or
asset so sold, leased or otherwise
disposed of exceeds the cost price to
the company of such property or
asset, the excess over such cost price
shall not be deemed to constitute
income of the company for the
purpose of this regulation;
(b) if at the time of sale, lease or other
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Reduction of
exploration and
development.
disposal the written down value for
income tax purposes of the property
or asset sold, leased or otherwise
disposed of is greater than the price at
which such property or asset is sold,
leased or otherwise disposed of, the
excess shall be deemed to constitute a
loss to the company and the amount
of such loss shall be treated as though
it were an outgoing or expense wholly
and exclusively incurred in the
production of the income of the year
in which the sale, lease or other
disposal took place.
8. (1) Any receipts obtained from the sale of gold or
diamonds won from any mine or from any explored area and
any other income accruing before the appointed day shall be
applied to reduce the total amount of exploration and
development expenditure.

(2) The proceeds of sale of any mine or area or
thereof, and any sums recovered under any insurance or
contract of indemnity in respect of any loss caused by the
abandonment of any mine or area or any part thereof on account of fire, flood or other event, shall be applied to reduce
the total amount of exploration and development
expenditure:
Provided that where the proceeds of sale of any mine or
area or any part thereof is greater than the written down
value thereof for income tax purposes and the whole or any
part of the proceeds of sale is, under regulation 7 deemed to
constitute income, the amount to be applied in reduction of
exploration and development expenditure under this

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Separate
accounts for
exploration and
development
expenditures.
Separate
accounts for
monies spent
on exploration
etc.
s.8 (13 of 1996)
paragraph shall be reduced by the amount deemed to
constitute income under regulation 7.
9. Exploration expenditure and development
expenditure in respect of accounts for each mine shall be
shown separately in the accounts of any company exploration
to which these Regulations apply, and every such company
shall keep and a register with full particulars of each item in
respect of which exhaustion or wear and tear is claimed and
showing as regards each expenditures item—
(a) cost, including cost of erection;
(b) wear and tear written off in the
accounts and written down value to
the company;
(c) wear and tear claimed and written
down value for income tax purposes.
10. Every company to which these Regulations apply
shall keep separate accounts in respect of all moneys spent on
exploration and moneys spent development expenditure and
the manager or other principal officer of on exploration, the
company shall submit statements of exploration and
development expenditure determined in to the
Commissioner-General whenever required by him, giving
details in accordance with these Regulations, the amount
thereof written off, and the amount remaining to be written
off.
____________________

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Reg. 5/1957
16/1974
Citation.

Remuneration
of members of
Board or
Review.

Travelling and
subsistence
allowances.

Reg. 4/1957

Citation.

Interpretation.
INCOME TAX (BOARD OF REVIEW) (REMUNERATION)
REGULATIONS
(made under section 79)
1. These Regulations may be cited as the Income Tax
of Review) (Remuneration) Regulations.
2. Members of the Board of review appointed under
section 79 of the Act of Members shall receive remuneration
at the rate of forty dollars for the Chairman of Board and
thirty dollars for every other member of the Board for each
day of Review during which they are engaged in attending
meetings of the Board.
3. Every member of the Board shall be paid any actual
travelling and subsistence expenses incurred in travelling on
duty as such member:
Provided that no travelling or subsistence expenses shall
be payable in respect of travelling within the City of
Georgetown and its environs.
___________________
INCOME TAX (BOARD OF REVIEW APPEALS
PROCEDURE) REGULATIONS
(made under section 85)
1. These Regulations may be cited as the Income Tax
(Board of Review Appeals Procedure) Regulations.
2. In these Regulations, "the Board" means the Board
of Review established under section 79 of the Act.
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Notice of
Appeal.
Additional
information.

Postponement
of hearing of
appeal.

Application for
different date
or place.
3. A notice of appeal lodged in accordance with
section 82 of the Act shall be in the form set out in the
Schedule with such modifications as may be necessary, and
shall contain a statement of the allegation of facts together
with the reasons which the appellant intends to advance in
support of his appeal.
4. The Board may request of any party to the appeal
additional information relative to the assessment or the
appeal therefrom, and such request shall be complied with in
such time as shall be directed by the Board.
5. The Board may postpone the hearing on any appeal
and where the postponement is not to a definite date the
Secretary to the Board shall give to the parties to the appeal at
least fourteen days notice in writing of the time and place of
the postponed hearing.

6. (1) When an appeal has been set down for hearing,
either party may make application to the Board for the appeal
to be heard at a time or place other than that appointed in the
notice of fixture.
(2) Such application shall be made as promptly as
possible after receipt of the notice of fixture, and must be in
writing addressed to the Secretary to the Board.
(3) Such application shall set out the reasons in
support thereof, and a copy thereof shall forthwith be sent by
the applicant to the other party to the appeal.
(4) Such other party shall, as soon as possible, after
receipt of a copy of such application, notify the Board of his
consent or opposition to such application, and, if the latter,
shall set out his reasons therefor.
(5) The Board may grant or refuse such application
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Withdrawal of
appeal.
s.8 (13 of 1996)

Service of
Notice etc.
s.8 (13 of 1996)
reg. 3
or fix such other time or place for the hearing as it deems
advisable in the circumstances.
(6) Applications for postponement of a hearing,
other than as provided for under the proviso to section 82 of
the Act and this regulation, shall not be granted unless
supported by reasons of urgency.
7. An appellant may withdraw an appeal by filing
with the Secretary to the Board a notice of withdrawal before
the day fixed for hearing, and the appellant shall forthwith
serve on the Commissioner-General a copy of the notice of
withdrawal.

8. Service of any notice, request or other document
provided for in these Regulations may be effected on any
party to the appeal by personal service or by registered post
addressed in the case of the Commissioner-General to him at
Georgetown, and in the case of the appellant to the address
given in the notice of appeal.
__________
SCHEDULE
NOTICE OF APPEAL
In re the Income Tax Act and .........................................................
(Name of appellant)
.......................................of...................................................................
(Address)
Notice of Appeal to the Board of review is hereby given from
the assessment No……..dated the ……day of...................,20......
wherein a tax in the sum of $ ……………was levied in respect

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of the Year of Assessment.................upon the income of the
year ended...........................
Here set out:

(1) A statement of allegations of fact.
(2) A statement of the reasons advanced in support of
appeal.
The appellant's address for service is at .......................................
..............................................................................................................
Dated at.........this..........day of..............................................20........

………………………………......
(Signature)
___________________
INCOME TAX APPEAL RULES
ARRANGEMENT OF RULES RULE
1. Citation.
2. Interpretation.
PART I
APPEAL TO A JUDGE IN CHAMBERS
3. Summons on Appeal.
4. Service and filing of summons.
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RULE
5. Notice of hearing of appeal.
6. (1) Commissioner-General’s statement of the facts and
reasons.
(2) Amendment of statement.
(3) Papers relating to the assessment may be called for
7. Copies to be supplied by the Registrar.
8. (1) Place for hearing appeals.
(2) Oral evidence may be taken.
(3) Counsel or solicitor may have audience.
(4) Parties may be present.
(5) Hearing of appeal in vacation.
9. Parties are limited to grounds stated.
10. Leave to amend.
11. Extension of time.
12. (l) Withdrawal of appeal.
(2) Costs on withdrawal.
PART II
CASE STATED FOR THE CONSIDERATION OF THE
FULL COURT
13. Time to apply for a stated case.
14. Form of stated case.
15. Notice of hearing of stated case.
16. (1) Applicant for stated case to be deemed the
appellant.
(3) Hearing by the Full Court.
PART III
MISCELLANEOUS
17. Service of documents.
18. Judgement to be filed by the successful party.
19. Application of rules of court.

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20. Fees to be taken by the Registrar.
FIRST SCHEDULE—Forms.
SECOND SCHEDULE—Fees to be taken by the Registrar in
proceedings under the Income Tax Act.
R. 3/1929

Citation.

Interpretation.

Summons on
Appeal.
INCOME TAX APPEAL RULES
(made under section 86)
1. These Rules may be cited as the Income Tax Appeal
Rules, and shall come into operation on 16th December, 1929.
2. In these Rules—
"case" means a case stated on a question of law under section
86 (10);
"Form" means a Form in the First Schedule;
"Full Court" means Full Court of the High Court;
"Judge" means a Judge of the High Court in Chambers;
"Registrar" means the Registrar of the Supreme Court.
PART I
APPEAL TO A JUDGE IN CHAMBERS
3. A notice under section 86(1) of the Act and a
summons under section 86(2) of the Act shall be in Form A,
hereinafter called a summons, and it shall set out a full
statement of the grounds of appeal by specially stating the
several facts and contentions of law upon which the appellant
alleges that the assessment of the Commissioner-General is
erroneous, and it shall give an address in Georgetown at
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Service and
filing of
summons.
Notice of
hearing of
appeal.

Commissioner-
General’s
statement of
the facts and
reasons.

Amendment of
statement.
Papers relating
to the
assessment
may be called
for

Copies to be
supplied by the
which documents may be served upon the appellant or his
attorney-at-law.
4. A copy of every summons shall be filed with the
Registrar together with an affidavit of service, and the
Registrar shall thereupon lay the same before a judge who
shall appoint a day for hearing the appeal. Instead of an
affidavit of service there may be substituted an endorsation of
service in the manner and with the effect of such an
endorsation under rules of court in respect of the service of a
writ of summons by a marshal.

5. The Registrar shall forthwith cause due notice, in
Form B, of the day appointed for the hearing of the appeal to
be served on the Commissioner-General and the appellant or
their respective attorney-at-law. Not less than fourteen clear
days' notice shall be given.

6. (1) Within five days of the service of the summons
the Commissioner-General shall file with the Registrar a
statement of the material facts upon every point which may
be specified in the summons as a ground of appeal together
with the reasons in support of the assessment.

(2) The judge may cause the statement and reasons
to be sent back to the Commissioner-General for amendment
and thereupon they shall be amended accordingly and
returned to the Registrar.
(3) The judge may direct the Registrar to request
the Commissioner-General to send to the Registrar any
papers in relations to the assessment that may appear to the
judge to be material for the determination of the appeal. Any
papers so sent to the Registrar shall be treated by him as
confidential.

7. Either party shall be entitled, on payment of the
proper fee, to obtain from the Registrar a copy of the
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Registrar.

Place for
hearing
appeals.
Oral evidence
may be taken.
Counsel or
solicitor may
have audience.
Parties may be
present.

Hearing of
appeal in
vacation.
Parties are
limited to
grounds stated.

Leave to
amend.

Extension of
time.
Commissioner-General's statement of material facts and of the
reasons in support of the assessment, or a copy of the
appellant's grounds of appeal.
8. (1) An appeal under the Act shall be heard in the
chambers of the judge hearing the appeal, unless the judge
otherwise directs.
(2) If evidence is tendered it shall be taken orally,
unless the judge otherwise directs.
(3) Either party may be represented by counsel or
attorney-at-law at the hearing of the appeal; and if it is
intended that the appeal shall be attended by counsel for the
appellant, it shall be so stated in the summons.
(4) The Commissioner-General and the appellant
shall be entitled to be present at the hearing of the appeal.
(5) An appeal may be heard in vacation, if a judge
so directs.
9. Without the leave of the judge an appellant shall
not be entitled to rely upon any facts or contentions of law
other than those stated in the summons, and without such
leave the Commissioner-General shall not be entitled to reply
upon any facts other than those stated by him under these
Rules.
10. A judge may at any time allow any amendment
upon such terms as he may think right.
11. A judge may extend the time for doing any act or
taking any proceeding under these Rules, upon such terms as
he may think right, and any such extension may be ordered
although the application for it is not made until after the
expiration of the time appointed or allowed.

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Withdrawal of
appeal.

Costs on
withdrawal.

Time to apply
for a stated
case.

Form of stated
case.
Notice of
hearing of
stated case.

Applicant for
stated case to
be deemed the
appellant.
12. (1) An appellant may withdraw an appeal by filing
with the Registrar a notice of withdrawal before the day fixed
for hearing, and the appellant shall forthwith serve on the
Commissioner-General a copy of the notice of withdrawal.
Upon the filing of a notice of withdrawal the assessment shall
have full force and effect as a final and conclusive assessment.
(2) Where an appeal is withdrawn a judge may, on
the application withdrawal of the Commissioner-General,
order that the appellant shall pay such a sum for costs as the
judge may think right.
PART II
CASE STATED FOR THE CONSIDERATION OF THE
FULL COURT
13. An application by the appellant or the
Commissioner-General for a case to be stated may be made
orally to the judge at the hearing of the appeal, or in writing
within seven days of the determination of the appeal. If the
judge desires to state a case of his own motion he shall do so
within seven days of the determination of the appeal.
14. A case shall be in Form C with necessary
modifications.
15. On receipt of a case by the Registrar he shall
forthwith cause a copy of the case to be served on the
respective parties or their solicitors together with a notice, in
Form D, of the day appointed for hearing the case. Not less
than fourteen clear days' notice shall be given of the date of
the hearing.
16. (1) The party on whose application a case has been
stated shall be deemed to be the appellant in the case.
(2) If the judge states a case of his own motion he
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Hearing by the
Full Court.

Service of
documents.
shall direct who shall be deemed to be the appellant.
(3) Proceedings in the Full Court shall be
conducted as on the hearing of an appeal, and the Full
Court—
(a) shall hear and determine any question
of law arising on the case and shall
reverse, affirm or amend the
determination in respect of which the
case has been stated; or
(b) may remit the matter to the
Commissioner-General with the
opinion or direction of the Court
thereon; or
(c) may make such other order in relation
to the matter, and may make such
order as to costs, as to the Court may
seem fit.
PART III
MISCELLANEOUS
17. Any document to be served under these Rules
shall be deemed to be documents duly served—
(a) on the Commissioner-General, if left
with a clerk of the Income Tax Office
or of the State Solicitor's Office if sent
by registered post addressed to the
Commissioner-General or to the State
Solicitor.
(b) on any other party, if served on the
party personally or on his councel or
sent by registered post to his address
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Judgement to
be filed by the
successful
party.

Application of
rules of court.

Fees to be taken
by the
Registrar.

for service stated in the summons.
18. (1) Every judgment or order of the judge in
chambers or of the Full Court shall, unless otherwise directed
by the judge or the Full Court, be drawn up by the successful
party and filed by him with the Registrar.
(2) The Registrar shall forthwith send to the
Commissioner-General a copy of every judgment or order
filed with him.
19. Save as otherwise provided in the Act or in these
Rules, the rules of court as to applications in chambers, as to
appeals, and as to the taxation of costs, shall, with the
necessary modifications, if any, apply to appeals to a judge in
chambers and to cases stated under the Act.
20. The fees specified in the Second Schedule shall be
taken by the Registrar in respect of proceedings under the
Act. Save as therein provided, the fees prescribed by the rules
of court shall be taken by the Registrar so far as they may be
applicable.
_________
r. 3
Summons.
FIRST SCHEDULE
FORM A
IN THE HIGH COURT OF THE SUPREME COURT OF
GUYANA
In the matter of the Income Tax Act
No. .............................of 20.......
Between......................................................................................
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Notice of date
of hearing of
Appeal.
.................... A.B. of ................................., appellant,.......................
.............................................and..........................................................
.................................... The Commissioner-General, ......................
Respondent.
Take notice that the abovementioned A.B. intends to
appeal against the decision of the Commissioner-General
given on the...............day of
.............................................................20............
And further take notice that you are required to attend
the Judge in Chambers at the Law Courts, Georgetown,
Demerara, on the day and at the time notified by the
Registrar, on the hearing of an appeal by the said A.B, against
the decision of the Commissioner-General.
(If the appeal is to be attended by counsel, add:
And further take notice that it is the intention of the said
A.B., to attend this appeal by counsel).
The grounds of appeal are as follows:
Dated the..............day of .....................................20..........
(Signed) A.B.
(or C.D., attorney-at-law for the said A.B.)
The said A.B.’S (or attorney-at-law) address for service
is.............................................., Georgetown.
__________
FORM B
IN THE HIGH COURT OF THE SUPREME COURT OF
GUYANA
In the matter of the Income Tax Act
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r. 4

Stated case
No. .............................of 20.......
Between......................................................................................
.................... A.B. of ................................., appellant,.......................
.............................................and..........................................................
.................................... The Commissioner-General, ......................
respondent.
Take notice that a Judge will hear this appeal on the
.................day of ..........................., 20........., at ...................o’clock
in the forenoon.
Dated the......................day of...................................20........
..................................................
Registrar
To ........................................................................................................
__________
FORM C
IN THE HIGH COURT OF THE SUPREME COURT OF
GUYANA
In the matter of the Income Tax Act
No. .............................of 20.......
Between......................................................................................
.................... A.B. of ................................., appellant,.......................
.............................................and..........................................................
.................................... The Commissioner-General, ......................
respondent.
.................................................and......................................................
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r. 15
Notice of
hearing of
stated case.
..................................... The Commissioner-General.......................
respondent.
This is a special case stated pursuant to section 86 of the
Income Tax Act.
(Here state the facts giving rise to the questions of law).
The questions of law for the opinion of the Full Court are
whether (here state the question of law).
____________
FORM D
IN THE HIGH COURT OF THE SUPREME COURT OF
GUYANA
In the matter of the Income Tax Act
No. .............................of 20.......
Between......................................................................................
............ A.B. of ................................., appellant, .......................
.............................................and..........................................................
.................................... The Commissioner-General, ......................
respondent.
Take notice that the Full Court will hear the case stated in
the abovementioned matters on the ................. day of
....................., 20........., at ...................o’clock in the forenoon.
Dated the.....................day of...................................20......
..................................................
Registrar
To ...................................................................................... ..................

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[4 of 1972]
__________
SECOND SCHEDULE

FEES TO BE TAKEN BY THE REGISTRAR IN
PROCEEDING UNDER THE INCOME TAX ACT
$ c.
On filing a summons
(including hearing fee) 7.00
For copy of statement of facts and
reasons of Commissioner-General or
For copy of case stated 3.00
On filing notice of withdrawal of appeal 2.00
On filing any judgement or order of a
Judge of the Full Court 3.00
On filing any exhibit or document other
Than those mentioned above 1.00
On inspection of any exhibit or document 0.50
For every taxation of a bill
of costs (including certificate) 5.00
____________________

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Reg. 19/1971

Citation.

Certificate.
s. 101
INCOME TAX (RECOVERY) REGULATIONS
(made under section 117)

1. These Regulations may be cited as the Income Tax
(Recovery) Regulations, 1971.
2. The certificate mentioned in section 101 of the Act
shall be in the form set out in the Schedule.
__________
SCHEDULE
CERTIFICATE OF AMOUNT DUE AS INCOME TAX
I hereby certify that.............................................................
(Name)
of..................................................................................employed at/
(Address)
carrying on business at *..................................................................
(here state name (if any), nature of employment, of business)
is indebted to the State in the sum of $......................being an
amount of $................................. due as income tax in respect of
year of assessment............................notice whereof was on the
................day of....................................duly served personally/by
registered post *upon the above-named person at......................
and the sum of $............................as interest on that amount
from.......................to.......................(here state period in respect
of which interest is claimed) together with interest at the rate
of ..................per cent on the said amount from............................
until the date of payment.
A copy of this certificate was served personally by
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Gaz. 18/6/1966
Nt. 69A


Reg. 24/1955
29/1969

Citation.

Annual
Allowances
under s. 17(1).
registered post* on the................day of................................upon
the above-named at...................together with a statement of
the intention to obtain judgment for the above-mentioned
sum pursuant to section 101 of the Income Tax Act after the
expiration of ten days from that date.
Dated this..........day of...............................,20.........
*Delete where necessary.
Commissioner-General
of Guyana Revenue Authority
____________________
NOTICE
made under section 100
In pursuance of the provisions of section 100 of the Act, I
hereby specify that the said section 100 shall not apply to
those persons whose emoluments are subject to deduction of
income tax under section 93 of the said Act.
____________________
INCOME TAX (DEPRECIATION RATES) REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
(Depreciation Rates) Regulations.
2. (1) Annual allowances under section 17 (1) of the
Act, for depreciation by wear and tear of plant, machinery or

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[Reg. 3/1992]
equipment used under normal conditions and of buildings,
housing machinery shall be calculated, except where
specifically stated to the contrary, on the written-down value
for income tax purposes at the respective rates set out in the
Schedule:
Provided that for any person to whom any allowance is
granted may elect to have a corresponding rate calculated on
the straight line method.
(2) Where an allowance for depreciation is
calculated on the straight line method, the total allowance
granted for all the year of deductions shall not exceed ninety
per cent of the cost of the asset which is being depreciated.
(3) In respect of special type plant, machinery or
equipment or of plant, machinery or equipment used under
abnormal conditions, the Commissioner-General may, in his
discretion, allow either higher or lower rates than the normal
rates set out in the Schedule.
3. The Income Tax (Depreciation Rates) Regulations
1955 are hereby repealed.
__________
SCHEDULE

Items Percentage
Allowed
Aircraft 33 1/3
Boats 10
Buildings (housing machinery) 5 on cost
Furniture and fittings 10
Motor Vehicles 20
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[Reg. 19/1954
6/1957]

Citation.
Declaration
under section 4.
Office Equipment:
Electronic 50
Other 15
Plant and Machinery 20
Beddings, books, bottles, boxes, carpets, to be written off
clerical robes, cooking, utensils, crockery, the year of
purchase
cutlery, glass-wear, lasts, linen,
linoleums, oars, rugs, sails stoppers,
siphons, tarpaulins, loose tools and
similar items
___________________
INCOME TAX (DECLARATION OF SECRECY)
REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
(Declaration of Secrecy) Regulations.
2. The declaration to be subscribed under section 4 of
the Act shall be in the appropriate form set out in the
schedule.
__________

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SCHEDULE
DECLARATIONS
Declaration of Secrecy to be made by a Commissioner of
Income Tax.
(Section 4 of the Income Tax Act, Chapter 81:01)
I, .................................................................................... do
solemnly declare that I will truly, faithfully, impartially and
honestly, according to the best of my skill and knowledge
execute the powers and authorities vested in me by the
Income Tax Act, Chapter 81:01, and that I will exercise the
powers entrusted to me by the said Act in such manner only
as shall appear to me necessary for the due execution of the
same; and that I will judge and determine upon all matters
and things which shall be brought before me under the said
Act, without favour, affection, or malice; and that I will not
disclose any particular contained in any schedule, statement,
return or other document delivered with respect to any tax
charged under the said Act, or any evidence or answer given
by any person who shall be examined, in pursuance of the
said Act, excepting to such persons only as shall be necessary
to disclose the same to them for the purposes of the said Act,
or for the purposes of or in the course of a prosecution for
perjury, or for an offence under the said Act.
Commissioner of Inland Revenue
Declared before me,..................this ............day...........of 20..........
………………………….Magistrate

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Declaration of Secrecy to be made by the Director of Audit
or Auditor Engaged in any Official Duty in the
Administration of the Income Tax Act.
(Section 4 of the Income Tax Act, Chapter 81:01)
I, …............................……………Director of Audit/Auditor
do solemnly declare that I will not disclose any particular
contained in any statement, return, declaration, schedule or
other document with respect to the tax charged under the
Income Tax Act, Chapter 81:01, which may be delivered or
open to my inspection in connection with my official duties,
excepting to such persons only as shall act in the execution of
the said Act.
……………………................................Director of Audit/Auditor
Declared before me, .........this ........... day of...................20.....
……………………..Magistrate
Declaration of Secrecy to be made by any other Person
employed in connection with the Administration of the
Income Tax Act.
(Section 4 of the Income Tax Act, Chapter 81 :01)
I, ............................................................. do solemnly declare
that I will diligently and faithfully execute the office of
..................................... to the Commissioner of Income Tax
according to the Income Tax Act, Chapter 81:01, to the best of
my knowledge and judgement; and that I will not disclose
any particular contained in any statement, return, declaration,
schedule or other document, with respect to the tax charged
under the said Act, or any evidence or answer given by any
person who shall be examined except to such persons only as
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shall act in the execution of the said Act and where it shall be
necessary to disclose the same for the purposes of the said
Act, or for the purposes of or in the-course of a prosecution
for perjury or for an offence under the said Act.

………………………………. Signature
Declared before me, …….....this ..............day of.................20......
……………………………. Magistrate
DECLARATION OF SECRECY TO BE MADE BY
MEMBERS OF THE BOARD OF REVIEW ENGAGED IN
CONNECTION WITH THE ADMINISTRATION OF THE
INCOME TAX ACT.
(Section 4 of the Income Tax Act, Chapter 81:01)
I, ……………………………….......................................
member of the Board of Review, do solemnly declare I will
truly, faithfully, impartially and honestly, according to the
best of my skill and knowledge execute the powers and
authorities vested in me by the Income Tax Act, Chapter 81
:01 and that I will exercise the powers entrusted to me by the
said Act in such manner only as shall appear to me necessary
for the due execution of the same; and shall judge and
determine upon all matters and things which shall be brought
before me under the said Act, without favour, affection, or
malice and that I will not disclose any particulars contained in
any schedule, statement, return, or other document delivered
with respect to any tax charged under the provisions of the
said Act, or any evidence or answer given by any person who
shall be examined, in pursuance of the said Act, excepting to
such persons only as shall act in execution of the said Act, and
where it shall be necessary to disclose the same to them for
the purpose of the said Act.
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…………...........Member of the Board of Review
Declared before me,………this……day of........………20….......
…..………………………………..... Magistrate
DECLARATION OF SECRECY TO BE MADE BY ANY
PERSON, BEING AN OFFICER OR SERVANT OF THE
BOARD OF REVIEW, EMPLOYED IN CONNECTION
WITH THE ADMINISTRATION OF THE INCOME TAX
ACT.
(Section 4 of the Income Tax Act, Chapter 81:01)
I, ...................................................................... do solemnly
declare that I will diligently and faithfully execute the office
of ..................................................to the Board of Review
according to the Income Tax Act, Chapter 81:01, to the best of
my knowledge and judgement; and that I will not disclose
any particulars contained in any statement, return,
declaration, schedule or other document with respect to the
tax charged under the said Act or any evidence or answer
given by any person who shall be examined except to such
persons only as shall act in the execution of such Act and
where it shall be necessary to disclose the same for the
purposes of the said Act.
.......………………………… (Signature)
Declared before me,....................this..........day of…………20......

......…………………………………. Magistrate
____________________

LAWS OF GUYANA
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[Subsidiary] Income Tax (Deduction of Tax from Emoluments) Regulations
L.R.O. 1/2012
Reg. 3/1991
Citation.

Interpretation.
INCOME TAX (DEDUCTION OF TAX FROM
EMOLUMENTS) REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
(Deduction of Tax from Emoluments) Regulations.
2. In these Regulations—
“determined rate” means such rate of deduction of tax as the
Commissioner-General may determine in relation to a
person with more than one source of income, for the
purpose of securing the collection in any year by means
of deductions from emoluments of the person arising
from one source of his income, of the total tax payable by
him in that year in respect of all sources of his income;
“emoluments” means emoluments to which the Act applies
and reference to payment of emoluments includes
reference to payment on account of emoluments;
“employer” includes any person making a payment of
emoluments;
“free emoluments” in relation to any individual means the
appropriate amount of his emoluments which qualifies
for relief from income tax;
“income tax month” means every calendar month throughout
the year;
“relief from income tax” means the deduction referred to in
section 20 of the Act;
“taxable emoluments” means emoluments reduced by free
emoluments;

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Employer to
register name,
address, etc
with the
Commissioner
“tax tables” means tax tables prepared by the Commissioner-
General.
3. (1) Subject as hereinafter provided every person
who carries on or is about to carry on any trade, business,
profession or vocation in respect of which he is or will be an
employer shall within 30 days of commencement of such
trade, business, profession or vocation register with the
Commissioner-General—
(a) his name and address;
(b) the name and addresses of his
partners and associates, if any;
(c) the trade or business name where the
trade, business, profession or vocation
is carried on under a name or style
other than his own name;
(d) the place and address, if any, where
he carries on or intends to carry on his
trade, business, profession or
vocation;
(e) the number of employees employed
or to be employed:
Provided that this regulation shall be deemed to have
been complied with if, in the case of a partnership, the
precedent partner as defined in section 66(b) of the Act and in
the case of a body of persons the manager or other principal
officer, carry out the provisions of this regulation.
(2) Paragraph (1) shall not apply in respect of any
person who has filed a return of the income of his trade,
business profession or vocation for the year of assessment and
-General.
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Immediate
employer to
finish principle
employer with
particulars of
employee’s
employment.

Delegated
authority.

Notices.
such person shall be exempt from the provisions of this
regulation.
4. (1) Where an employee works under the general
control and management of a person who is not his
immediate employer that person (referred to hereafter in this
regulation as the "principal employer") shall be deemed to be
the employer for the purposes of these Regulations, and the
immediate employer shall furnish the principal employer
with such particulars of the employee's emoluments as may
be necessary to enable the employees' principal employer to
comply with these Regulations.
(2) If the employee's emoluments are actually paid
to him by the immediate employer—
(a) the immediate employer shall be
notified by the principal employer of
the amount of tax to be deducted
when the emoluments are paid to the
employee, and shall deduct the
amount so notified to him
accordingly; and
(b) the principal employer shall make a
corresponding deduction on making
to the immediate employer the
payment out of which the said
emoluments will be paid.
5. Anything which is authorised or required by these
Regulations to be done by the Commissioner-General may be
done by the Commissioner-General or members of his staff as
he may assign them.
6. Any notice which is authorised or required to be
given, served or issued under these Regulations may be sent
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Disregard of
expenses by
Commissioner

General may
determine that
tax be deducted
at a determined
rate.

Employer to
record
particulars in
authorised
form.
by post.
7. The Commissioner-General may disregard part or
all of any expenses in respect of which an individual is
entitled where it is impracticable to take account of all those
expenses in determining that individual's emoluments for any
year and where he does so he may direct the employer to
disregard an equivalent amount of that individual's
emoluments in calculating the tax to be deducted when any
payment of emoluments is made to that individual.
8. (1) The Commissioner-General may determine that
tax shall be deducted at a determined rate from any
emoluments.
(2) The Commissioner-General may determine that
no tax shall be deducted from any emoluments if—
(a) the emoluments will be included in
the profits of a trade, profession or
business; or
(b) the Commissioner-General is not
satisfied that the emoluments will be
chargeable to tax.
9. (1) The employer shall record in such form as may
be authorised by the Commissioner-General the following
particulars regarding every payment of emoluments which he
makes to any person, namely—
(a) the date of payment;
(b) the gross amount of the emoluments;
(c) the amount of tax, if any, deducted on
making payment.
Commissioner-
-General.
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Where
employer
makes
payments for
benefit of
employee
payment
deemed to
include amount
assessable as
income tax.
After end of
year employer
to give every
employee
authorised
certificate
showing total
employments
and tax
deduction.

Within 14 days
of the end of
income tax
month
employer to
pay amount of
tax deducted to
General.
(2) Where the Commissioner-General determines
that tax shall be deducted at a determined rate from any
emoluments or that no tax shall be deducted therefrom, the
employer shall deduct tax at the determined rate or shall
deduct no tax, as the case may require.
10. Where the employer makes a payment to or for the
benefit of the employee in respect of his income tax, the
amount of emoluments which the employer pays to the
employee shall be deemed, for the purposes of deduction of
tax under these Regulations to be such a sum as will include
the amount assessable on the employee in respect of the
payment made by the employer in respect of the employee's
income deemed to tax.

11. After the end of the year but on or before the
prescribed date for the delivery of returns to be delivered to
the Commissioner-General under section 61(2), (3) and (4) of
the Act, the employer shall give every person from whose
emoluments he was liable to deduct or withhold a tax
certificate in such form as the Commissioner-General may
authorise showing the total amount of the emoluments paid
by an employer by the showing total employer to such person
during the year, and the total tax deducted from the
emoluments.

12. (1) Within fourteen days of the end of every
income tax month the employer shall pay to the
Commissioner-General all amounts of tax which he was
liable under these Regulations to deduct from the
emoluments paid by him during that income tax month.

(2) The Commissioner-General shall give the
employer a receipt on the official form for the total amount so
paid.
Commissioner-
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General may
give notice to
employer to
render a return,
where amount
of tax not paid.
(3) If the amount which the employer is liable to
pay to the Commissioner-General under paragraph (1)
exceeds the amount actually deducted by him from the
emoluments paid during the relevant income tax month, the
Commissioner-General, on being satisfied by the employer
that he took reasonable care to comply with these Regulations
and that the under deduction was due to an error made in
good faith, may direct that the amount of the excess shall be
recovered from the person to whom he made payment of the
emoluments, and where he so directs, and the employer is
unable to recover from such person, the employer shall not be
liable to pay the amount of the said excess to the
Commissioner-General, and the Commissioner-General may
authorise repayment of the said excess to the employer.

13. (1) If within fourteen days of the end of any
income tax month the employer has paid no tax to the
Commissioner-General under regulation 12 for that income
tax month and the Commissioner-General is unaware of the
amount, if any, which the employer is liable so to pay, the
Commissioner-General may give notice to the employer
requiring him to render within a return, the time limited in
the notice a return showing the name of every person to
whom he made any payment of emoluments in amounts the
period limited by the notice together which such particulars
of tax with regard to each such person as the notice requires
being particulars of—
(a) the payments of emoluments made to
him during that period; and
(b) any other matter affecting the
calculation of the tax which the
employer was liable under these
Regulations to deduct during that
period.
Commissioner-
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Provision
relating to
recovery of
income tax to
apply to any
amount of tax
which
employer liable
to pay under
regulation 12.
(2) The Commissioner-General by reference to the
tax tables shall ascertain and certify the amount of tax which
the employer is liable to pay to him in respect of the income
tax month in question.
(3) The production of the return made by the
employer under paragraph (1) and of the certificate of the
Commissioner-General under paragraph (2) shall be sufficient
evidence that the amount shown in the said certificate is the
amount of tax which the employer is liable to pay to the
Commissioner-General in respect of the income tax month in
question; and any document purporting to be such certificate
as aforesaid shall be deemed to be such certificate until the
contrary is proved.
(4) Where a notice is given by the Commissioner-
General under paragraph (1) extends to two or more
consecutive income tax months, these Regulations shall have
effect as if the said consecutive income tax months were one
income tax month.
(5) A notice may be given by the Commissioner-
General under paragraph (1) notwithstanding that an amount
of tax has been paid to him by the employer under regulation
12 for any income tax month, if the Commissioner-General is
not satisfied that the amount so paid is the full amount which
the employer is liable to pay to him for that month and this
regulation shall have effect accordingly.
14. (1) The provision relating to the recovery of
income tax shall apply to the recovery of any amount of tax
which an employer is liable under regulation 12 to pay to the
Commissioner-General for any income tax month as if the
said amount had been charged on the employer.
(2) Proceedings may be brought for the recovery of
the total employer amount which the employer is liable to
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In the return
under section
61(2), (3) and
(4) employer to
finish total
amount of
emoluments.
pay as aforesaid for any liable to income tax month, without
distinguishing the amounts which pay under he is liable to
pay in respect of each person and without regulation
specifying the person in question, but nothing in this
paragraph shall prevent the bringing of separate proceedings
for the recovery of each of the several amounts which the
employer is liable to pay as aforesaid for any income tax
month in respect of the several persons to whom he made
payments of emoluments.
(3) A certificate of the Commissioner-General that
any amount of tax such as is mentioned in paragraph (1) has
not been paid to him or to the best of his knowledge to any
other person acting on his behalf shall be sufficient evidence
that the sum mentioned in the certificate is unpaid and is due
and any document purporting to be such a certificate
aforesaid shall be deemed to be such a certificate until the
contrary is proved.
15. (1) In the return to be delivered to the
Commissioner-General under sections 61(2), (3) and (4) of the
Act the employer shall furnish in respect of each person to
whom he made payments of emoluments the total amount of
emoluments paid by him to each such person during the year
and the total tax deducted from the emoluments.
(2) In the case of a person who has ceased to be
employed the said return shall also show the period during
which he was employed.
(3) In the case of an employee taken into
employment after the beginning of the year, the said return
shall also show the period during which he was employed
and the name of his previous employer.
(4) A return shall be made under this regulation in
respect of every person to whom the employer has at any
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Employer to
reduce wages
sheet for
inspection.

Employer’s
personal
representative
to do anything
which
employer
would have
done.
Regulation
applies where
change of
employment.
Income tax
may be
assessed by
General.
time during the year paid emoluments.
16. Every employer, when called upon to do so by the
Commissioner-General or any officer authorised by him, shall
produce to the Commissioner-General or that officer for
inspection at the employer's premises, or the office of the
Commissioner-General as the employer may be required to
do, all wages sheets and other documents and records
whatsoever relating to the calculation or payment of the
emoluments of his employees or the deduction of tax
therefrom.
17. If an employer dies, anything which he would
have been liable to do under these Regulations shall be done
by his personal representative, or, in the case of an employer
who paid emoluments on behalf of another person, by the
persons succeeding him, or if no person succeeds him, the
person on whose behalf he paid emoluments.
18. This regulation applies where there has been a
change in the employer from whom a person received
emoluments in respect of employment in any trade,
profession or business, or in connection with any property:
Provided that the employer after the change shall not be
liable for the payment of any tax which was deductible from
emoluments paid to the employee before the change took
place.
ASSESSMENT AND DIRECT COLLECTION
19. (1) Income tax in respect of employments may be
assessed and charged by the Commissioner-General, who for
that purpose may exercise all the powers under the Act.
(2) All the emoluments and other income of a
Commissioner-
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General may
give notice
requiring
employer to
render return
of emoluments.

Excess payable
where tax
payable under
assessment
total tax
deducted.

Commissioner-
General to
repay
differences
where tax
payable under
assessment is
less than tax
deducted.
Adjustments to
be made for
purposes of
determining
amount of any
excess.

person may be included in one assessment.
20. The Commissioner-General may give notice to the
employer requiring him to render a return of any emoluments
paid by him to any person for any year being emoluments
which were not paid to the person until after the end of that
year and any such return shall be rendered to the
Commissioner-General within the time limited by the notice.
21. (1) If the tax payable under the assessment exceeds
the total tax deducted from any person's emoluments during
the year, being the basic period of the year of assessment, the
excess shall be payable by such person to the Commissioner-
General within thirty days after service of a notice of
assessment under Section 78 of the Act.
(2) Any tax which is payable to the Commissioner-
General by any such person may be recovered in accordance
with the Act.
22. If the tax payable under the assessment is less than
the tax deducted from any person's emoluments during the
year being the basic period of the year of assessment the
Commissioner-General shall repay the difference to such
person in accordance with section 107 of the Act.

23. For the purpose of determining the amount of any
excess or difference as aforesaid, any necessary adjustment
shall be made to the aforesaid total tax in respect of—
(a) any tax which the employer was liable
to deduct from the excess person's
emoluments but failed so to deduct
Commissioner-
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[Subsidiary] Income Tax (General) (Regulations)
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Revocation.
Reg. 5/1943
27/1950
22/ 1953
27/1958
6/1960
18/1962
5/1963
16/1963
11/1970
11/1972
5/1973
10/1980
1/1988
4/1991
13 of 1996
Citation.

Returns under
s.60 (1).
First Schedule.
5 of 1973
Employer’s
returns under s.
61(2)
[Reg. 16/1963
1/1988
4/1991]
Second
having regard to whether the
Commissioner-General has or has not
directed that the tax shall be
recovered from such person; and
(b) any tax overpaid or remaining unpaid
for any year.
24. The Income Tax (Deduction of Tax from
Emoluments) Regulations are hereby revoked.
____________________
INCOME TAX (GENERAL) REGULATIONS
(made under section 117)
1. The Regulations may be cited as the Income Tax
(General) Regulations.
2. Every return under section 60(1) of the Act shall be
in the appropriate form set out in the First Schedule to these
Regulations.
3. The returns of employees to be delivered to the
Commissioner-General under section 61 (2) of the Act by
every employer shall be of all those employed by him during
the year preceding the year of assessment, and shall be in the
form set out in the Second Schedule to these Regulations.
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Schedule.
Prescribed
dates.
[Reg. 10/1962 ]
Third Schedule.

Prescribed
dates.
[Reg. 10/1962
5/1963
16/1963
4/1991]
4. The list to be delivered to the Commissioner-
General in accordance with section 51 of the Act shall be in
such one of the forms set out in the Third Schedule to these
Regulations as the Commissioner-General shall in each case
direct.
5. The following are the prescribed dates for the
delivery of the returns and list specified in Regulations 2, 3
and 4:
(a) the return specified in regulation 2, on
or before the 30th day of April in that
year of assessment;
(b) the return specified in regulation 3 on
or before the 28th day of February in
every year of assessment;
(c) the list specified in regulation 4 on or
before the 28th day of February in
every year of assessment.
____________________

Note
on
Schedules
The Schedules have been omitted from this publication.
The existing Schedules and Forms are to be utilised.
_______________________

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Reg. 24/1953
10/1980
2/1988
13 of 1996
Citation.

Interpretation.
Deduction of
tax from
emoluments.
DEDUCTION OF INCOME TAX (EMPLOYMENT)
REGULATIONS
made under section 117
1. These Regulations may be cited as the Deduction of
Income Tax (Employment) Regulations.
2. In these Regulations—
"deduction period" means the period during which tax is to
be deducted in pursuance of a notification;
"emoluments" means all salaries, fees, wages, allowances or
profits or gains whatsoever arising from an office or
employment, and references to payments of emoluments
include references to payments on account of
emoluments;
"employee" means any person in receipt of emoluments;
"employer" means any persons paying emoluments, whether
on his own account or on behalf of another person;
"notification" means a notification issued to an employer by
the Commissioner-General requiring him to deduct tax in
accordance with these Regulations.
3. (1) Where any emoluments are payable to any
person, deductions on account of tax which is or will be
payable by him for any year of assessment shall, if the
Commissioner-General so requires, be made out of the
emoluments or any arrears thereof.
(2) Subject to these Regulations, deductions shall
be made at such time and in such amounts as the
Commissioner-General shall require by notification issued
under these Regulations whether or not the tax has been
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Employer to
deduct tax.

Specification in
notification.
[reg. 10/1980]
assessed:
Provided that if on the assessment becoming final and
conclusive the deductions made exceed the tax payable, the
tax overpaid shall be repaid.
4. (1) Where an employee is chargeable to tax and his
employer for the time being is required by the Commissioner-
General by means of a notification issued in that behalf to
deduct the tax, or any part of the tax from any emoluments
which he pays to the employee, the employer shall deduct
such tax in accordance with these Regulations.
(2) The tax included in a notification may extend to
tax charged or chargeable in respect of any year of assessment
subsequent to the year of assessment 1951.
(3) Where the employee is a married woman or an
unmarried woman being a reputed wife, the tax chargeable in
respect of her emoluments may be included in a notification
to her employer as if she were assessable and chargeable or
had been assessed and charged to tax in her own name,
whether or not such is in fact the case, and these Regulations
shall have effect accordingly.
(4) Any employee whose tax is to be notified to his
employer for deduction shall be informed to that effect in
such a manner as the Commissioner-General may direct.
5. The notification shall specify the name of the
employee, the amount of tax which the employer is required
to deduct, and the deduction period, but save as aforesaid it
shall not disclose any particulars whatsoever relating to the
income of the employee or to the relief from tax to which he is
entitled, or to year for which or the source of the emoluments
in respect of which the tax is charged or chargeable.

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Employer to
deduct tax.

Variation of
notification.

Repayment of
tax overpaid.
Notification
authorising
deduction of
tax not in
dispute.

Employer to
render return
of Employees
to whom he has
ceased to pay.
6. Upon receipt of a notification the employer shall
deduct the tax specified in the notification, in such
installments as may be specified therein, from the
emoluments which he pays to the employee during the
deduction period.
7. The Commissioner-General may, at any time before
the expiration of a deduction period, vary the notification
relating to such deduction period. Any such variation shall be
affected by a further notification.
8. Any repayment due of tax overpaid by an
employee, whether by way of deduction or otherwise, shall be
made to the employee by the Commissioner-General.
9. Where a notice of objection in writing under section
78(2) of the Act is given to the Commissioner-General by the
employee, subject to section 97(4) of the Act, the
Commissioner-General shall, as soon as may be, issue an
amended notification authorising the deduction of so much
only of the tax as is not in dispute.
10. Not later than the fourteenth day of every month,
every employer shall render to the Commissioner-General a
return in regard to each employee in respect of whom he has
received a notification and to whom he has ceased at any time
during the previous month to pay emoluments showing—
(a) the name and the last known address
of the employee;
(b) the date upon which the payment of
emoluments ceased;
(c) the total amount of tax deducted
during the deduction period in which
the payment of emoluments ceased;
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Employer to
pay
Commissioner
amount of tax
deducted.

Employer liable
to pay amount
of tax if he fails
to deduct.

Employer to
render return
and
(d) the total amount of emoluments paid
or payable to the employee for the
period since the previous 31st
December up to and including the
date on which the payment of
emoluments ceased.
11. (1) Not later that the fourteenth day of every
month the employer shall pay to the Commissioner-General
all amounts of tax which he has deducted under these
Regulations during the preceding month in pursuance of a
notification.
(2) The Commissioner-General shall give the
employer a receipt on the prescribed from for the total
amount so paid.
(3) Any amount of tax which an employer is
required or liable to pay the Commissioner-General under
these Regulations shall be a debt due from him to the
Government which, without prejudice to any other method of
recovery, shall also be recoverable by the Commissioner-
General in the same manner as if the employer were the
person charged therewith, and section 104 of the Act shall
apply accordingly.
12. If an employer fails without reasonable excuse to
deduct any amount of tax which he is required by these
Regulations to deduct, he shall nevertheless remain liable to
pay the said amount to the Commissioner-General as if he
had deducted it, and regulation 11 shall with the necessary
modifications apply to the payment and recovery of and the
giving of a receipt for any such amount.
13. Not later than the fourteenth day of the month
-General
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of total tax
deducted.

Certificate of
amount of tax
deducted.

Rendering of
returns on
death of
employer.
Regulation to
apply upon
change of
employer.
following the expiration of a deduction period, the employer
shall render a return to the Commissioner-General showing
in regard to each employee from whose emoluments he has
been notified to deduct tax, the total amount of tax deducted
during the deduction period and the amount, if any, which he
has not deducted, together with the reason for his failure to
deduct such amount.
14. After the expiration of any deduction period, the
employee may obtain, on application to the Commissioner-
General, a certificate of the amount of tax which has been
deducted from his emoluments during that deduction period.
15. In the event of the death of an employer, any
return which the deceased would have been liable to render
under regulations10 or 13 shall be rendered—
(a) in the case of an employer paying
emoluments on his own account, by
the personal representative of the
deceased; and
(b) in the case of an employer paying
emoluments on behalf of another
person, by the person succeeding him,
or if there is no person succeeding
him, by the person on whose behalf
the deceased paid emoluments
16. If there has been a change in the employer from
whom an employee receives emoluments in respect of his
employment in any trade, business, concern or undertaking,
or in connection with any property, or from whom an
employee receives any annuity or pension and the employer
after the change deducts tax in accordance with a notification
issued by the Commissioner-General in respect of that
employee to the employer before the change, then, except as
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Deductions
made by
employer to be
included
among debts
entitled to
preference.

Regulation not
to affect
collection of
tax.

Tax which
regards the payment and recovery of any tax which fell to be
deducted before the change, all the provisions of these
Regulations shall apply to the employer after the change as if
the notification had been issued to him.
17. (1) All sums which an employer has deducted or
should have deducted, in pursuance of a notification, from
payments of emoluments made within the period to twelve
months next before the relevant date, and which the employer
is liable to pay but has not paid to the Commissioner-General
shall be included among the debts which are entitled, from
the date of the accruing thereof, to a preference of payment
over all debts or claims of every kind, whether specialties or
on simple contract, which, subsequent to such date, are
contracted or incurred by, or become due from, such
employer to any other person whomsoever.
(2) For the purpose of this regulation, the
expression "relevant date" means—
(a) in relation to bankruptcy, the date of
the receiving order; and
(b) in relation to companies, the date of
the order or effective resolution for
winding up or of the appointment of
the receiver or the taking or
possession of the property of the
company, as the case may be.
18. Nothing in these Regulations shall affect the
collection or recovery in the manner provided by the Act of
any tax with which an employee is chargeable and which is
not deductible in pursuance of a notification.
19. Except where the employer is liable therefor under

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Income Tax(Payment of Tax by Companies) Regulations
L.R.O. 1/2012
should have
been deducted
due and
payable and
recoverable
under the Act.

Service of
Notification.
Regulations not
to affect
deduction of
tax where tax
deductable
from
emoluments
otherwise their
by regulations.
Reg. 5/1974


Citation.

Interpretation.

When tax
becomes due
and payable.
regulation 12, any amount of tax which should, in pursuance
of a notification, have been deducted from emoluments paid
to the employee but has not been so deducted shall be
deemed to be due and payable by the employee and may be
recovered from the employee in the manner provided by the
under the Act.

20. A notification shall be served on the employer to
whom it is addressed and the provisions of section 116 of the
Act shall apply to such service in the like manner as to service
of notices.

21. Nothing in these Regulations regarding deduction
of tax shall affect the deduction of tax in any case where tax is
deductible from emoluments otherwise than by virtue of
these Regulations.
___________________
INCOME TAX (PAYMENT OF TAX BY COMPANIES)
REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
(Payment of Tax by Companies) Regulations.
2. In these Regulations—
"notice of assessment" means the notice of assessment under
section 78 of the Act.
3. Subject to regulations 5, 8 and 9—
(a) with respect to the year of assessment
commencing on 1st January, 1975, the
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tax on the chargeable income of every
company shall become due and
payable in installments as prescribed
hereunder—
(i) on or before 1st June, 1974 an
installment equal to one- third of the tax paid or payable on
the chargeable income in
respect of the preceding year of
assessment;
(ii) on or before 1st September,
1974 an installment equal to
one-half of the tax calculated on
the aforesaid basis and
estimated as remaining unpaid
for the year of assessment
commencing on 1st January,
1975;
(iii) on or before 15th December,
1974 the balance of tax so
calculated and estimated as
remaining unpaid for the said
year of assessment;
(b) with respect to every year of
assessment thereafter, the tax on the
chargeable income of every company
shall become due and payable in
installments as prescribed
hereunder—
(i) on or before 15th March in the
year preceding the year of
assessment, an installment
equal to one-quarter of the tax

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Tax to be paid
on chargeable
income.

Tax based on
chargeable
income.
paid or payable on its
chargeable income in respect of
the preceding year of
assessment;
(ii) on or before 15th
June, in the preceding the year
of assessment, an installment
equal to one-third of the tax
calculated on the aforesaid
basis and remaining unpaid for
the year of assessment; and
(iii) on or before 15th September, in
the year preceding the year of
assessment, an installment
equal to one -half of the tax
remaining unpaid for the year
of assessment; and
(iv) on or before 15th December, in
the year preceding the year of
assessment, the balance of the
tax remaining unpaid for the
year of assessment.
4. Where the notice of assessment for the year of
assessment preceding that for which payment is required by
law to be made has not been served before the due date for
payment of an installment of tax and where a company has
submitted a return in respect of that year of assessment, the
company shall estimate and pay tax on the chargeable income
of the company as declared in the return.
5. Where the notice of assessment for the year of
assessment preceding that for which payment is required by
law to be made has been served before the due date for payment of an installment of tax a company shall pay tax on
the basis of the chargeable income assessed.

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Provisional
amounts
agreed with
Commissioner
General.
Where
company not
assessed the tax
to be paid on
estimate of
chargeable
income.
Unpaid tax to
be paid within
30 days.

Balance of tax
to be paid
within 30 days.
Reg. 18/1962
13/1971
Citation.
6. Where a company for any reason was not liable for
the payment of tax for the year of assessment preceding the
year for which payment is required by law to be made the tax
to be paid by the company shall be based provisionally on
such amount as may be agreed with the Commissioner-
General.
7. Where a company has not delivered a return for the
year of assessment preceding that for which payment is
required by law to be made and was not assessed for that
year the company shall estimate and pay tax on the basis of
an estimate of its chargeable income for the year in which
payment is due, so however, that if the Commissioner-
General is not satisfied with the estimate made by the
company, he shall determine the tax to be paid.
8. Where a notice of assessment has been served in the
year of to be paid assessment to which it relates the balance of
tax remaining unpaid, if any, shall be payable to the
Commissioner-General within thirty days after service of the
notice of assessment.
9. Where a notice of assessment is served in respect of
tax payable for a year of assessment other than that in which
such notice has been served, the tax or the balance of tax
remaining unpaid, if any, as the case may be, shall be payable
to the Commissioner-General within thirty days after service
of the notice of assessment.
____________________
INCOME TAX (GENERAL) (PAYMENT OF TAX)
REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
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Interpretation.

Where due date
not prescribed
tax payable to
Commissioner
General.

Tax may be
paid in two
instalments
where notice of
assessment
served prior 1st
September.

Time of
payment of tax.
[reg. 13/1971)
(General) (Payment of Tax) Regulations.
2. In these Regulations, "notice of assessment" means
the notice of assessment under section 78 of the Act.
3. Subject to regulation 4, in any case where the due
date or dates for the payment of tax have not otherwise been
prescribed, tax shall be payable to the Commissioner-General
within thirty days after the service of a notice of assessment.
4. In any case where the notice of assessment has been
served, or paid in two notification of the tax payable (where
there has been a notice of objection or of appeal) has been
received prior to the first day of September in the year of
assessment to which the notice or the notification, as the case
may be, relates, tax may be paid in two or more instalments:
Provided that the first installment, which shall be not less
than one-third of the amount of the tax, is paid within fifteen
days of the service of the notice of assessment or within
fifteen days of the receipt of the notification of the tax
payable, as the case may be, and the last installment is paid
on or before the 31st October.
PAYMENT BY INSTALLMENTS
5. Anything in the Income Tax (General) (Payment of
Tax) Regulations, 1962, to the contrary notwithstanding,
every individual to whom section 93 of the Act does not
apply but to whom section 69 of the Act applies shall, subject
to regulation 3, pay the tax upon his chargeable income for
the year of assessment 1971 within thirty days after the
service on him of a notice of assessment, or notification of the
tax payable where there has been a notice of objection or of
appeal.

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Installments.
[reg. 13/1971]
Failure to pay
instalments.
[reg. 13/1971]
6. The tax may be paid in installments as prescribed
hereunder—
(a) the first installment, being an amount
not less than twenty-five percent of
the tax, shall be due and payable
within thirty days after the service of
the notice of assessment, or
notification of the tax payable where
there has been a notice of objection or
of appeal;
(b) The balance of tax shall be paid in not
more than six installments, and each
installment (being not less than
twelve and one-half percent of the tax
remaining unpaid at the due date for
the payment of the installment) shall
be due and payable on or before the
expiration of every period of three
months reckoning from the date on
which the first instalment was due
and payable under paragraph (a).
7. Where a person fails to pay any installment of the
tax within the time prescribed by regulation 3, the whole
amount of the tax remaining unpaid by him shall thereupon
become due and payable and payment of the said amount
may be enforced by the Commissioner-General.
____________________

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Income Tax (Government Securities Allowance) Regulations
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Reg. 2/1969
Citation
Institutions of
national
character.

Reg. 13/1969
16/1973

Citation.

Government
securities.
22 of 1966A

Government
securities.
[reg. 16/1973
c. 81:01
INCOME TAX (INSTITUTIONS) REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
(Institutions) Regulations.
2. The University of Guyana and the Guyana School
of Agriculture are national institutions of a national character
in Guyana for the purpose of section 35(1) (a) of the Act.
__________________
INCOME TAX (GOVERNMENT SECURITIES
ALLOWANCES) REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
(Government Securities Allowances) Regulations.
2. Seven percent debentures issued by the
Government of Guyana under the Public Loan Ordinance,
1966, are Government securities for the purpose of section
26(2) of the Act.
3. Seven per cent debentures issued by the
Government of Guyana under the provisions of the Public
Loan Act are Government securities for the purpose of sub-
section (lA) of section 20 of the Income Tax Ordinance
(Section 26(2), Income Tax Act, Chapter 81:01).
____________________

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[Reg. 17/1974
13/1979
1/1981
7/1986
8/1986
3/2004]
Citation.
Prescribed
organisation.

17/1974
13/1979
1/1981
7/1986
8/1986
3/2004

[Reg. 7/1980
14/1994]
Citation.

Accounts and
records to be
kept by persons carrying on
business.
INCOME TAX (PRESCRIBED ORGANISATION)
REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
(Prescribed Organisation) Regulations.
2. The following being organisations of national
character in Guyana are of national hereby prescribed for the
purpose of subsection (1) of section 35 of the Act.
Guyana National Steel Band
Guyana Cricket Board of Control
Guyana Society for the Blind
Institute of Small Enterprise Development Ltd.
National Relief Committee
Cheddi Jagan Research Centre
____________________
INCOME TAX (ACCOUNTS AND RECORDS)
REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax
(Accounts and Records) Regulations.
2. (1) Every person carrying on any business, trade,
profession or vocation (hereinafter referred to as "business")
shall for the purpose of section 65 of the Act keep accounts
and records thereof in such a manner as to give a true and
correct view of the conduct of the business for the year

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preceding the year of assessment. Without prejudice to the
generality of the foregoing the accounts and records shall
show particulars of -
(a) all purchases;
(b) all gross receipts or gross sales;
(c) any sum received or expended and
the transaction to which the receipt or
expenditure relates;
(d) any allowance claimed under section
17 of the Act;
(e) all accounts, including bank
statements, held at any bank for the
relevant period;
(f) all assets and liabilities including
debtors and creditors;

(g) any payment made to any person not
resident in Guyana;
(h) shares held or owned by any person
resident in Guyana;
(i) shares held or owned by any person
not resident in Guyana; and
(2) Every person carrying on a business, when
submitting to the Commissioner-General a return of his
income under section 60 of the Act, shall attach thereto a copy
of his final accounts which shall be prepared on the accrual
basis from the accounts and records referred to in paragraph
(1):
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Hire purchase
transactions.

[Reg. 7/1989]

Citation.
Provided that where the Commissioner-General is
satisfied that from the nature of the business a different basis
is appropriate he may permit the accounts and records to be
prepared in a manner other than on the accrual basis.
3. Every person carrying on a hire purchase business
shall, in addition to complying with regulation 2, attach to his
return of income to the Commissioner-General under section
60 of the Act a statement showing—
(a) the manner in which profits have
been taken into account;
(b) transactions for the current year of
assessment as distinct from those
previous years and amounts written
off; and
(c) outstanding balances in relation to -
(i) transactions of previous ears;
and
(ii) transactions for the current year
of assessment.
____________________
INCOME TAX (VALUATION OF QUARTERS OR
RESIDENCE) REGULATIONS
made under section 117
1. These Regulations may be cited as the Income Tax

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Determination
of estimated
value of
quarters or
residence.
(Valuation of Quarters or Residence) Regulations.
2. In ascertaining the income of any individual to
which section 5 (b) of the Act applies, the estimated value of
any quarters or residence shall be determined as set out in the
Table below:
TABLE
Area of quarters or
residence
Rates per month
for unfurnished
quarters or
residence
Rates per month
for furnished
quarters or
residence
1. Not exceeding
1000 sq. ft.
$14.00 per sq. ft.
$20.00 per sq. ft
2. Exceeding 1,000
sq. ft. but not
exceeding 2,000 sq.
ft.
$16.00 per sq. ft.
$22.00 per sq. ft
3. Exceeding 2,000
sq. ft. but not
exceeding 3,000 sq.
ft.
$18.00 per sq. ft.
$24.00 per sq. ft
4. Exceeding 3,000
sq. ft.
$20.00 per sq. ft $26.00 per sq. ft
__________
APPENDIX TO CONSOLIDATED TAX ACTS

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APPENDIX 1 (i)
INCOME TAX RATES - INDIVIDUALS
YEARS OF ASSESSMENT 1984 -2007
(YEAR OF INCOME 1983 - 2006)
TAX RATES ON CHARGEABLE INCOME
Years of Assessment 1984 – 1987
Over $1,000 Under $1,500 $50.00 + 5% on excess over $1,000
1,500 3,000 75.00 + 10% “1,500
3,000 4,800 225.00 + 15% “3,000
4,800 6,800 495.00 + 25% “4,800
6,800 8,800 995.00 + 35% “6,800
8,800 11,800 1,695.00 + 40% “ “8,800
11,800 15,800 2,895.00 + 50% “11,800
15,800 20,300 4,895.00 + 60% “15,800
20,300 33,075 7,595.00 + 70% “20,300
33,075 16,537.50 + 50% “33,075
Years of Assessment 1988 – 1989
Under $1,500 $ Nil $ -
Over 1,500 3,000 0.00 + 10% on excess over 1,500
3,000 4,500 150.00 + 15% “ 3,000
4,500 6,300 375.00 + 20%“ 4,500
6,300 8,300 735.00 + 30%“ 6,300
8,300 10,300 1,335.00 + 40% 8,300
10,300 13,300 2,135.00 + 45% 10,300
13,300 3,485.00 + 55% 13,300
Years of Assessment 1990 - 1991
Under $5,000 $ Nil $ -
Over 5,000 10,000 0.00 + 10% on excess over 5,000
10,000 15,000 500 + 20% ” 10,000
15,000 20,000 1,500 + 30% “ 15,000
20,000 30,000 3,000 + 40% “ 20,000
30,000 " 7,000 + 50% “ “

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Years of Assessment 1992 - 1993
$0.00 Under 50,000 $ 0.00 + 20% on excess over 0.00
Over $50,000 “ 100,000 10,000 + 30% ” 50,000
“ 100,000 “ 25,000 + 30% “ 100,000
Years of Assessment 1994 - 1997
33 1/3% of Chargeable Income
Years of Assessment 1998 - 2003
20% of first $110,000.00 of the amount of Chargeable Income
33 1/3 % of the remainder of the amount of Chargeable
Income
Years of Assessment 2004 - 2006
20% of first $110,000.00 of the amount of Chargeable Income
33 1/3 % of the remainder of the amount of Chargeable
Income
Years of Assessment 2007 -
33 1/3 % of the remainder of the amount of Chargeable
Income
__________
SELF EMPLOYED INDIVIDUALS
Effective 1St September 2003
In respect of self employed individuals whose turnover from
the performance of services:
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Exceeds $10 Million
Minimum Tax – 2%
Less than $10 Million
Presumptive Tax Method using factors such as size of
business, number of employees, assets used in the business,
training and years in practice, salaries of comparable
employed individuals etc.
____________________
APPENDIX 1 (ii)
COMPANIES INCOME AND CORPORATION TAX
RATES
Rates of Income Tax
Life Assurance
Companies
Other
Companies
Investment
Companies
% % %
Year of
Assessment
1929 to 1931
3 10 10
Year of
Assessment
1932 to 1939
5 12½ 12½
Year of
Assessment
1940
5 15 15
Year of
Assessment
1941
5 20 20
Year of
Assessment
1942 to 1943
5 25 25
Year of
Assessment
5 33⅓ 33⅓
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[28 of 1991]
1944 to 1946
Year of
Assessment
1947 to 1950
5 40 40
Year of
Assessment
1951 to 1961
15 45 45
Year of
Assessment
1970 to 1992
45 20 Nil
Thereafter Nil Nil Nil
Effective year of assessment 1993 Income Tax on Companies
was abolished and replaced by a single rate of Corporation
Tax.
__________
Rates of Corporation Tax
Commercial
Companies
Non
Commercial
Companies
Investment
Companies
% % %
Year of
Assessment
1970 to 1992
35 25 Nil
Year of
Assessment
1993
35 35 35
Year of
Assessment
1994 to 2011
45 35 Nil
Year of Assessment 2012 – 45% of the chargeable profits
of a telephone company;
40% of the chargeable profits
of a commercial company
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[16 of 1994
3 of 1996]
other than a telephone
company; and
30% of the chargeable profits
of any other company.
Minimum Tax
Years of Assessment 1995-1996
A minimum Corporation Tax at the rate of 2% of
turnover levied on all companies with a turnover in excess of
M$1.2.
Year of Assessment 1997
Non commercial companies and companies carrying on
insurance business are exempt from the tax.
____________________
APPENDIX 2
RATES OF WITHHOLDING TAX (THIRD SCHEDULE TO
THE ACT)
Paying Companies
Year of Assessment 1970/1992
Commercial Companies
Non-Commercial Companies
Recipient
Resident or non-resident Company
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40% 35%
Non-resident individual:
(i) Gross Dividend not exceeding $10,000.00 31%
(ii) Gross Dividend exceeding 10,000.00 40%
(iii) Gross Dividend not exceeding 8,000.00 27%
(iv) Gross Dividend exceeding 8,000.00 35%
Payment
Interest on any Debt, mortgage or other security 25%
Other 10%
Year of Assessment 1993—
YA 1993 –
2003
From YA
2004
On Distribution to Non-
Residents
15% 20%
On Interest on Saving accounts
On Interest on Loans secured by
Bonds and similar instrument
On discount on Treasury Bills
15% 20%
On other interest payments to
Non-Residents
15% 20%
On payments other than
Interest to Non-Residents
10% 205
_________
APPENDIX 3
RATES OF CAPITAL GAINS TAX
Individual and Companies

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Years of Assessment 1965 & 1966—
Gains on Disposal within 7 years of acquiring the asset 10%
Years of Assessment 1967 – 1969—
Gains on Disposal within 7 years of acquiring the asset 15%
Gains on Disposal within 7 and 25 years of acquiring
the asset 15%
But Gains on the Disposal of Asset acquired before
1/1/60 and disposed of after 31/12/66 Exempt
From Years of Assessment 1970—
Gains on Disposal within I year of acquiring the asset.
Added to the
income of the
taxpayer and
charged to
Income Tax/
Corporation Tax
Gains on Disposal between 1 and 25 years of acquiring the
asset 20%
But Gains on the Disposal of Asset acquired before 1/1/60
and disposed of after 31/12/66 Exempt
From Year of Assessment 1995:
Individuals
Gains on the disposal of shares or stock in public
companies limited by shares Exempt
Companies
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Gains on the disposal of shares or stock in private
companies which after 7/3/1994 were converted into
public companies limited by shares
Years of Assessment 1993 – 1999:
On the first $5,000,000 of Net Property NIL
For every dollar of the next $5,000,000 of Net Property ½%
For every dollar of the remainder of Net Property ¾%
Years of Assessment 2000 -
On the first $7,500,000 of Net Property NIL
For every dollar of the next $5,000,000 of Net Proper ½%
For every dollar of the remainder of Net Property ¾%
_____________________