Guyana is a member of the Caribbean Community and Common Market (CARICOM). Guyana maintains a Common External Tariff (CET) rate that ranges from 5 percent to 20 percent. A tariff rate of 40 percent applies only to agricultural products. All duties are value added. The customs act allows for the National Assembly to impose import or export duties on any goods. Additionally, the GoG levies VAT at a rate of 14 percent, applied equally to imports and locally produced goods and services. Though there are certain exceptions such as renewable energy technologies. VAT on merchandise imports is calculated based on the cost, insurance, and freight (CIF) value plus the sum of import duties and any other taxes and charges. Businesses producing taxable supplies of goods and services (at the standard and/or zero rates) of GYD 15 million or more, over a 12-month period, must be VAT-registered. More information on VAT is available through the GRA website.
The Excise Tax Act of 2005 bestows responsibility for the administration of excise taxes on the GRA Commissioner. Excise taxes are charged on items which are considered consumables. The tax is charged on the following: alcoholic beverages, tobacco products, petroleum products, and vehicles. An excise tax is applied to the total value of each item upon entry to Guyana. The total value is inclusive of freight insurance, customs duties, fees, and other charges.
Excise taxes may be waived by the Commissioner General of the GRA if items imported are for temporary use. In such circumstances, goods must be exported within three months and a deposit left with the Commissioner General. Goods that include excise taxes are also subject to VAT. An importer must pay the tax before the goods are cleared for use in Guyana. More information on the excise tax is available through the GRA website.
Under the Customs Act, Guyana levies an environmental tax approximately USD $0.05 on every unit of non-returnable metal, plastic, glass, or cardboard container of any alcoholic or non-alcoholic beverage imported into Guyana. The tax is paid to the GRA. More information on the environmental tax is available through the GRA website.