In an effort to reduce the impact of the coronavirus on businesses and consumers, the Guyana Revenue Authority (GRA) has waived Value Added Tax and other duties on all medical supplies associated with the testing, prevention and treatment of the virus. These include but are not limited to soaps, disinfectant sprays, hand sanitizers, sanitizing wipes, face masks, rubbing alcohol and multivitamins and Vitamin C tablets. This measure will last until June 30, 2020.
There will also be a waiver on 15,000 litres of rubbing alcohol which has already been provided to Demerara Distributors Limited since they are providing it through the Ministry of Public Health.
Further to this, there will be tax deductions for all donations made by local businesses to staff and health institutions for the treatment of the virus. There will also be deferred payments for corporate and individual advance taxes and PAYE for businesses affected until June 30, 2020.
It therefore means that in the airline, tourism and associated industries, like hotels and transportation, if they continue to employ their employees, or send them on extended vacation leave, there would be no penalty or interest to be paid. Thereafter, businesses would be allowed to pay advance taxes on the current year basis.
