Jurisdiction overviewTax in Guyana
Last reviewed: · by TaxProsRated editorial
Key points
Guyana's Guyana Revenue Authority (GRA) administers a progressive personal income tax at 28% and 40% across two bands. Corporate tax is 25% for commercial companies and 40% for non-commercial entities (banking, insurance, telecoms). Petroleum companies operate under production-sharing agreements separate from the standard CIT. VAT is 14%. The country has approximately 8 active double-tax treaties. Guyana is the only English-speaking country in South America, a CARICOM and CARIFORUM member, and since 2019 one of the world's fastest-growing economies driven by offshore oil production.
Who is the tax authority?
The Guyana Revenue Authority (GRA) administers Guyana's tax system. GRA was established under the Revenue Authority Act 1996 and operates under the Ministry of Finance.
The legal framework rests on several statutes. The Income Tax Act Cap 81:01 covers personal income tax. The Corporation Tax Act Cap 81:03 covers corporate income tax. The VAT Act 2005 governs indirect tax. The Petroleum (Exploration and Production) Act plus successive National Budget Acts cover the oil sector.
Guyana holds CARICOM and CARIFORUM membership, Commonwealth realm status, and AfCFTA observer standing. The CARICOM Multilateral Tax Convention provides regional treaty coverage.
What is the tax year and when are returns due?
Guyana's tax year is the calendar year (1 January to 31 December). PAYE is withheld monthly from employee wages.
Who counts as a Guyanese tax resident?
An individual is a Guyanese tax resident under the Income Tax Act if either rule applies:
- Ordinarily resident in Guyana (permanent home or centre of life)
- Physically present 183 days or more in Guyana in the tax year
Residents pay tax on worldwide income. Non-residents pay tax only on Guyanese-source income. Meeting either test creates residency independently.
What are the personal income tax rates?
Guyana uses two income tax brackets above a personal allowance:
| Yearly income (GYD) | Tax rate |
|---|---|
| Personal allowance | 0% |
| Up to ~2,400,000 | 28% |
| Above ~2,400,000 | 40% |
National Insurance Scheme (NIS) contributions also apply: 5.6% for employees and 8.4% for employers.
How does corporate tax work?
Guyana's corporate income tax (CIT) depends on sector classification. The rate varies significantly between commercial and non-commercial activities.
Standard CIT. Covers most businesses — retail, professional services, manufacturing, hospitality, construction.
Applies to banking, insurance, and telecoms. The higher rate reflects sector-specific economic characteristics.
Companies operating under the Stabroek Block and other petroleum licences are governed by Production Sharing Agreements (PSAs) under the Petroleum (Exploration and Production) Act. PSAs set out cost-recovery, profit-oil split, and royalty terms separately from the standard CIT regime. ExxonMobil, Hess, and CNOOC operate under this framework.
Withholding tax on dividends to non-residents is 20%, potentially reduced under treaty. Pillar Two has not yet been transposed. Tax losses carry forward for 5 years with a 50% cap from year 5 onward.
What about VAT and other indirect taxes?
Guyana's Value Added Tax (VAT) is governed by the VAT Act 2005. The standard rate is 14%.
| Rate | Applies to |
|---|---|
| 14% | Standard rate — most goods and services |
| 0% | Exports (zero-rated, not exempt) |
Excise taxes apply to selected goods such as alcohol, tobacco, and petroleum products. VAT-registered businesses file monthly returns with GRA.
What is the currency framework?
Guyana uses the Guyanese Dollar (GYD), managed on a float by the Bank of Guyana. The GYD saw significant appreciation between 2022 and 2024, driven by large oil-revenue inflows from the Stabroek Block.
The GYD is not pegged. The Bank of Guyana manages exchange rate stability but allows market movement. Foreign currency exposure is material for companies with USD-denominated oil contracts operating in a GYD-denominated tax base. The GYD appreciation of 2022-2024 created foreign-exchange-gain complexities for importers and mixed-currency entities.
Oil boom 2020+: world's fastest-growing economy
ExxonMobil's Stabroek Block: 11+ billion barrels
Guyana's offshore Stabroek Block — operated by ExxonMobil (45%), Hess (30%), and CNOOC (25%) — holds over 11 billion barrels of oil-equivalent reserves discovered from 2015 onward. First oil began in December 2019. Production reached approximately 620,000 barrels per day by 2024, with projections exceeding 1.7 million bpd by 2030. GDP growth ran at approximately 60% in 2022, 38% in 2023, and 33% in 2024. Per-capita GDP climbed from roughly USD 8,000 in 2019 to over USD 25,000 by 2024.
The pre-oil economy rested on sugar, rice, gold, bauxite, and timber. Oil now overwhelmingly dominates GDP growth, though the agricultural and mining sectors remain active.
Natural Resource Fund
Guyana established the Natural Resource Fund (NRF) in 2019 to manage petroleum revenues on behalf of current and future generations.
The NRF (Natural Resource Fund) was established under the Natural Resource Fund Act 2019. It accumulates a portion of petroleum revenues above a defined annual withdrawal limit and is intended to buffer the economy against oil-price volatility. The NRF framework is modelled on Norwegian sovereign-wealth principles — save excess revenues, spend within a sustainable annual ceiling.
Venezuela-Essequibo border dispute
Venezuela claims the Essequibo region, which covers roughly two-thirds of Guyana's land area. In December 2023, Venezuela held a referendum in which 94% of voters backed annexing Essequibo — a result the international community broadly rejected as legally invalid. The International Court of Justice (ICJ) has the case under active proceedings. A ruling is pending.
The Stabroek Block sits in offshore waters not directly contested by the land border dispute. The major oil operators have continued production without interruption. Foreign investors in onshore Essequibo-region activities face a higher geopolitical-risk profile than those in the offshore oil sector.
How are cryptoassets taxed?
Guyana has no dedicated crypto-asset tax legislation. The Bank of Guyana has issued cautionary advisories about cryptoassets. Where gains are declared, GRA applies existing income-tax categories.
The Bank of Guyana's position is cautionary: cryptoassets are not recognized as legal tender, and no exchange licensing framework exists. Tax reporting obligations for crypto gains are uncodified — practitioners apply existing capital-gain and income principles on a case-by-case basis.
What is the treaty network?
Guyana has approximately 8 active bilateral tax treaties. Major partners include the UK, Canada, India, and the CARICOM multilateral treaty covering Caribbean member states. The US-Guyana DTA is under negotiation and is not yet in force — no bilateral treaty relief exists between the US and Guyana at present.
Guyana has signed the MLI but has not yet ratified it. The CARICOM Multilateral Tax Convention provides regional coverage. Standard statute of limitations is 6 years; extended for fraud and for petroleum-sector matters.
Only English-speaking country in South America
Guyana: the only English-speaking South American nation
Guyana's legal system is common law — inherited from British colonial administration and shared with the CARICOM Caribbean peers rather than the civil-law Spanish- and Portuguese-speaking nations of continental South America. Tax law drafting, court precedent, and professional practice all follow common-law convention. This makes Guyana's tax compliance environment more familiar to UK, Canadian, and Caribbean-trained practitioners than to Brazilian or Argentine specialists.
Where does Guyana sit in the regional cohort?
Guyana bridges two regional blocs: CARICOM (Caribbean) and South America. It sits alongside Trinidad and Tobago and Suriname as an emerging-oil-producer within CARICOM.
Common pitfalls for foreign investors and workers
Guyana's rapid growth attracts foreign capital and workers. Several recurring traps apply to those entering the market:
The 25% vs 40% split is a 60% rate difference. Banking, insurance, and telecoms companies face the higher rate. Misclassification is a material liability.
Petroleum-sector entities operate under PSAs, not under the standard Corporation Tax Act. Cost-recovery rules, profit-oil splits, and royalties differ significantly from the general framework.
US persons working or investing in Guyana cannot rely on bilateral treaty relief. Full withholding rates apply to dividends and other payments to US recipients until a DTA is signed and ratified.
The GYD appreciated significantly against the USD between 2022 and 2024. Companies with USD-denominated revenues and GYD-denominated costs experienced foreign-exchange gain and loss complexities in their GYD-denominated tax base.
Venezuela's active claim over the Essequibo region creates an elevated risk profile for onshore investments in that territory. ICJ proceedings are ongoing. Investors in Essequibo-region activities carry a political-risk premium not present in offshore oil projects.
Guyana's GDP growth is heavily tied to oil production ramp-up. Any technical, operational, or geopolitical interruption to Stabroek output will produce large GDP swings. Budget projections and fiscal frameworks rest on production assumptions that carry more uncertainty than diversified economies.
With only approximately 8 DTAs, Guyana has limited bilateral coverage. Non-treaty countries face full withholding rates on dividends (20%), interest, and royalties.
When should you speak with a Guyanese tax pro?
Some filings are routine. Others require a practitioner who understands Guyana's fast-changing framework:
The directory below lists vetted practitioners in Guyana. Any page visit to a practitioner constitutes general information only — not personal guidance for a specific situation. Tax rules change frequently in a fast-growth economy. Always verify current figures on the GRA website or with a licensed Guyanese practitioner before filing.
Frequently asked
Who is the Guyanese tax authority?
The Guyana Revenue Authority (GRA) administers Guyana's tax system under the Revenue Authority Act 1996, operating under the Ministry of Finance.
When is the Guyanese annual return due?
PAYE is withheld monthly. Personal and corporate returns are due 30 April for the prior calendar year. Corporate income tax is paid via quarterly provisional installments. VAT-registered businesses file monthly returns.
Who is a Guyanese tax resident?
Tax residents are either ordinarily resident in Guyana (permanent home or centre of life) or physically present 183 or more days in the tax year. Residents pay tax on worldwide income. Non-residents pay tax only on Guyanese-source income.
What are the Guyanese personal income tax rates?
Two brackets: 28% up to approximately GYD 2,400,000 annually; 40% above that threshold. A personal allowance reduces the taxable base. NIS contributions are 5.6% for employees and 8.4% for employers.
How does Guyana's corporate tax work?
CIT is 25% for commercial companies and 40% for non-commercial companies (banking, insurance, telecoms). Petroleum companies operate under Production Sharing Agreements separate from the standard CIT regime. Withholding on non-resident dividends is 20%. Pillar Two is not yet transposed. Tax losses carry forward 5 years with a 50% cap from year 5.
What is the Guyanese VAT rate?
VAT is 14% under the VAT Act 2005. Exports are zero-rated. VAT-registered businesses file monthly returns with GRA.
How does Guyana tax cryptoassets?
Guyana has no dedicated crypto-asset tax law. The Bank of Guyana has issued cautionary advisories. Where declared, gains are treated under existing income-tax categories.
How many tax treaties does Guyana have?
Approximately 8 active bilateral tax treaties. Major partners include the UK, Canada, India, and the CARICOM multilateral treaty. The US-Guyana DTA is under negotiation and not yet in force. The MLI has been signed but not yet ratified.
Major tax firms in Guyana
Verified directory of the largest accounting + tax practices operating in Guyana. Listings are entity-level reference cards — claim flow is open to firm representatives.
- Big 4
EY Guyana
- Big 4
PwC Guyana
- National
BDO Guyana
- Regional
Nizam Ali & Co
- Regional
Ram & McRae
- Regional
TSD Lal & Co
Find a tax pro in Guyana
Browse credentialed pros serving Guyana — filter by specialty, language, and credential type.
Browse the Guyana directorySources
The figures, dates, and rules on this page are sourced from the documents listed below. Where two sources disagree, both are listed.
- GRA (Guyana) · accessed
- Government of Guyana · accessed
- Government of Guyana · accessed
- Ministry of Finance (Guyana) · accessed
- PwC Worldwide Tax Summaries · accessed
- Government of Guyana · accessed
- Government of Guyana · accessed
Important disclaimer
Informational only — not tax advice. This page summarises publicly available information about tax in Guyana as of July 2026. Tax laws change, individual circumstances vary, and the application of any rule depends on your specific facts.
TaxProsRated does not provide tax, legal, accounting, or financial advice. Before acting on anything you read here, consult a qualified tax professional licensed in your jurisdiction (in the US: CPA, Enrolled Agent, or attorney; in the UK: CIOT- or ATT-qualified adviser; in Australia: TPB-registered tax agent; elsewhere: a locally-licensed equivalent). TaxProsRated, its operators, and its contributors disclaim all liability for action taken in reliance on this page.