Taxes & TAXATION

TAXES & TAXATION

A series of tax reforms were made to improve the conditions for investment, and improve the conditions for investment. Taxation anywhere, but particularly in a new country, can be a complex issue. It is strongly recommended that professional advice is sought both locally and in your home country to ensure compliance.

Business Taxation in Guyana

All businesses operating in Guyana are liable to taxation. There are two categories of tax:

• Direct taxes (include income tax and corporation tax) and

• Indirect taxes (property tax, capital gains tax, and a number of product and service related taxes)

There is a standard tax rate depending on your business structure. There can also be tax holidays and incentives in the form of tax deductions for investors in certain industries and locations.

Taxation for Guyanese Re-migrants

Guyanese who are based overseas also receive special concessions that include tax waivers when they choose to remigrate.

Taxation for US Citizens

In addition to any local Guyanese taxes, US citizens, residents and companies still have an obligation to file US taxes even if they are living and working outside of the US. Not all tax providers are skilled in the ares of expat taxes. Here is a list of online US tax preparers that specialize in preparing expat taxes.