Guyana Gazettes Law Amending Various Income Tax, VAT Provisions

The Guyanese Official Gazette Aug. 11 published Fiscal Enactments (Amendment) Law No. 2, amending various income tax and VAT provisions. The law includes measures: 1) setting the rate for gold or diamond withholding tax for individual operators at 2.5 percent of gross receipts exceeding US$1,100, for income years beginning June 1; 2) removing provisions requiring 20 percent withholding on amounts paid by employers to gold or diamond mining tributors, for income years beginning June 1; 3) removing tax credit provisions for exports of Guyanese-manufactured goods for the amount of VAT paid for water and electricity; 4) changing the VAT return ...