The Guyana Revenue Authority. What is this? To begin, the term revenue can be defined as “the income generated from sale of goods or services, or any other use of capital or assets, associated with the main operations of an organization before any costs or expenses are deducted. Revenue is shown usually as the top item in an income (profit and loss) statement from which all charges, costs, and expenses are subtracted to arrive at net income. Also called sales, or (in the UK) turnover.” In simple terms, revenue is income, earnings, profits, gains, etc. Furthermore, the mission of the Guyana Revenue Authority is to promote compliance with Guyana’s Tax, Trade and Border Laws and regulations through education, quality service and responsible enforcement programmes, thereby contributing to the economic and social well-being of the people of Guyana. Read on to find out more about the Guyana Revenue Authority AKA GRA.
Background Information About GRA
GRA was established on the 27th January, 2000. This resulted from the merger of two departments which are the Inland Revenue Department and Customs and Excise Department. This change came about because of the passing of the Revenue Authority Act, No. 13 of 1996. Mr. Edgar Heyligar, GRA’s first Commissioner-General (CG), spearheaded the formation of the Guyana Revenue Authority. Further, the Inland Revenue Department and Customs & Excise Tax Departments were renamed Internal Revenue and Customs and Trade Administration.
The Vision Of GRA
The Vision of the Guyana Revenue Authority is to gain recognition and respect from its clients and other stakeholders, through its integrity and fairness in administering high quality, yet affordable programmes. The Authority’s good standing will be earned though:
- Quality service and client education that meet the needs of diverse client base;
- Responsible enforcement of the laws based on the application of sound risk management, principles and practices;
- Fair, impartial and timely redress processes;
- Their sensitivity to the effects of administrative and legal requirements they must impose on clients and their efforts to ease the burden and cost of compliance;
- Skilled, knowledgeable and professional people, working in an environment that encourages and supports their personal and professional development; and
- Their commitment to open, transparent and accountable administration.
The Core Principles Of GRA
The Guyana Revenue Authority’s goal is to provide the best possible service at an affordable cost. Yes, GRA will achieve this goal by the following core principles:
- Providing accessible, dependable and timely service;
- Being fair and respectful
- Providing effective communication
- Managing their resources effectively and economically
- Being responsive and committed to improvement.
Did You Know? The Guyana Revenue Authority (GRA) is mandated under the Foreign Accounts Tax Compliance Act (FATCA) to report accounts of United States (US) citizens to the US Internal Revenue Service (US-IRS) on an annual basis. In fulfilling this obligation, Financial Institutions (FIs) with accounts held by US citizens are required to report such information to the GRA, the designated Competent Authority.
Services Offered At GRA
- Registration For Tin – A Taxpayer Identification Number, commonly known as TIN, is a unique computer-generated number allocated to each taxpayer, whether they are an individual, a Commercial Business, a Government Department, Public Corporation, or a Special Body. In accordance with Section 2 of the Income Tax Amendment (No.2) Act of 2006, every person conducting business with a Government Department, Public Authority (including GRA), Public Corporation or the Central Bank (Bank of Guyana) is required to have a TIN. Persons who require a Taxpayer Identification Number (TIN) must visit the GRA’s Headquarters at 200-201 Camp Street, Georgetown or any GRA Regional Office.
- Registration For Value Added Tax (VAT) – Value Added Tax (VAT) was introduced on January 1, 2007, together with an Excise Tax (ET) on motor vehicles, petroleum, tobacco products and alcohol. VAT along with ET has replaced six (6) existing taxes, including Consumption Tax. A business must be registered with the VAT Department and display the VAT certificate before charging VAT. Registration is categorized in Section 11 of the VAT Act of 2005 as being mandatory or voluntary. GRA also cater for refunds and the application form for refunds can be uplifted at the VAT Department.
- Licensing Drivers – You can obtain an International Driving Permit which would be valid in countries that have signed on to the 1968 Vienna Convention on Road Traffic, such as, Bahamas, Brazil, Cuba, France, Italy, and Portugal, among others. Applicants who wish to drive in a country which is not a signatory to the Vienna Convention on Road Traffic, must seek permission from that country before an International Driving Permit is issued. It should also be noted that the permit will be valid for twelve (12) months from the date of issue. On the other hand, if you are visiting Guyana for two weeks or more and you require a driver’s licence, then you may use your Foreign Driver’s Licence to apply for a Guyanese Driver’s Licence. Additionally, as a Guyanese you can go to the GRA to obtain your own licence when you are of age to drive.
- Obtaining A Certificate Of Compliance – This can be obtained for a land or property. Also, for tender purposes.
- Taxation – promote compliance with Guyana’s Tax, Trade and Border Laws and regulations through education, quality service and responsible enforcement programmes.
Tip: GRA is the only agency authorized to issue a TIN.
Location & Contact Information For GRA
- Address: 200-201 Camp Street, Georgetown, Guyana
- Telephone: 592-227-6060 extensions 1201-1204/ 3200-3208
- Email: [email protected] or [email protected]
- Website: http://www.gra.gov.gy
Guyana Revenue Authority
According to Mr. Godfrey Statia, “Since its establishment in the year 2000, the Guyana Revenue Authority (GRA) has evolved and continues to evolve, increasing its infrastructure and technical capacity. The GRA’s website has been designed to cater to your online needs as it relates to accessing information on taxation matters.” He went on to say that, “You can access the latest updates on what’s happening within the agency, download forms, and for those persons who require information on the taxes administered by the agency, you can check the categories listed on the left panel of our website. Importers and Exporters who transact business with the GRA in foreign currencies can check every month for the full list of the Rates of Exchange…We also encourage you to participate in our regular Polls, to let us know how our services are benefiting you. If you wish to give us your own feedback, you can visit our Feedback or Contact Page or visit our Facebook Page.”
Article References:
- https://gra.gov.gy/
- https://www.facebook.com/guyanarevenue/
- https://finance.gov.gy/about-us/sub-agencies/guyana-revenue-authority/
- http://www.businessdictionary.com/definition/revenue.html
