VAT waivers for foreigners, overseas-based Guyanese
Guyana Chronicle
January 7, 2007
THE Government Information Agency (GINA) yesterday reported that the Guyana Revenue Authority intends to offer Value Added Tax (VAT) exemptions on selected items to foreigners and overseas-based Guyanese, subject to satisfactory proof that the items are for use overseas.
GRA Commissioner General, Mr. Khurshid Sattaur, told GINA the authority intends to treat purchases by foreigners as exports and it is willing to offer exemptions on some classes of items such as jewellery.
He said this will be extended to overseas customers who make purchases which attract VAT in excess of $20,000.
GINA said the announcement came as members of the business community raised concerns about the merchandising of items purchased by overseas visitors.
Consultations are being held with members of the business sector to determine the most efficient method of effecting the exemption, it said.
One method proposed is the presentation of passports at the point of purchase, while another is to have goods delivered at the point of exit, the Cheddi Jagan International Airport, Timehri, GINA said.
According to the agency, Sattaur assured too that exemptions will also be granted to members of diplomatic missions here and some charitable bodies.