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Sustainability Services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
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Corporate Governance
Learn about corporate governance in Guyana, focusing on transparency, accountability, and ethical business practices. Explore policies, regulations, and initiatives that ensure responsible corporate leadership and sustainable growth in Guyana's economy - Grant Thornton Guyana
Tax implications for the Guyana oil & gas sector - Grant Thornton Guyana
For companies operating in Guyana's oil & gas sector, several laws are applicable, including the Maritime Zones Act, Petroleum Acts, and various tax-related laws. This memo focuses on the relevant taxes such as corporation tax, capital gains tax, withholding taxes, VAT, income tax (PAYE), and property tax. Entities in petroleum activities are typically taxed at a 25% corporation tax rate. Contractors and subcontractors are subject to the same rate. Petroleum companies operate under laws such as the Petroleum (Exploration and Production) Act, and are regulated by the Guyana Revenue Authority (GRA). Special tax provisions may apply under petroleum agreements.
We hope you find this memo helpful in giving you some insights for your organization. If you would like to discuss any of the points mentioned in the article, get in touch with your local Grant Thornton contact or email us via info@aw.gt.com
