Guyana High Commission, UK

General incentives include tax holidays for pioneering activities; zero-rate on custom duty and consumption tax on selected items of plant, machinery and equipment and on raw materials for registered companies; preferential access to markets through CARICOM, CARIFORUM-EU Economic Partnership Agreement, Caribbean Basin Initiative and Caribcan; government's continued expenditure on infrastructure, utility and research activities; double taxation treaties with the USA and Canada, unlimited loss carry-over from previous years; accelerated depreciation on plant equipment; and export allowance for non-traditional exports to Ex-CARICOM destinations. (see Go-Invest website)


Agri-business incentives

Include duty free importation of a wide range of machinery and equipment; waiver on import duty and value added tax on packaging materials for fruits and vegetable for export; allowances for expenditure incurred development and cultivation purposes; and export allowances for non-traditional or agricultural products outside CARICOM.


Manufacturing incentives

Include duty and value added tax zero-rated on a wide range of machinery and equipment, and on most raw materials for registered Companies.


Agriculture and manufacturing incentives for projects in Linden and surrounding areas.

Include exemptions of duty and value added taxes on all plant, machinery and equipment, spare parts and vehicles used exclusively for business.


Tourism incentives

Consist of a package for which Companies are eligible once in a period of 5 years and comprise mainly duty-free and value added tax concessions for basic furnishing, plant equipment and building materials.


Fisheries incentives

Include exemption from duty and value added tax on a wide range of equipment.


Forestry incentives

Comprise value added activities benefiting from the incentives generally granted to the manufacturing sector, and exemption from duty and consumption tax on selected items.


FOR MORE INFORMATION PLEASE VISIT THE FOLLOWING WEBSITES

(A) Ministry of Foreign Trade & International Cooperation

www.moftic.gov.gy  


(B) Guyana Office for Investment (GO-INVEST)

www.goinvest.gov.gy


(C ) Ministry of Tourism, Industry & Commerce

www.mintic.gov.gy


(D ) Ministry of Natural Resources and the Environment

www.nre.gov.gy  


(E) Guyana Sugar Corporation (GuySuCo)

www.guysuco.com  


(F) Ministry of Agriculture

www.agriculture.gov.gy


(G) Guyana Rice Development Board

www.grdb.gy  


(H) Guyana Forestry Commission

www.forestry.gov.gy


(I) New Guyana Marketing Corporation (Non-Traditional Exports)

www.newgmc.com


(J) Ministry of Finance

www.finance.gov.gy  


GO-INVEST

In light of the urgency for expanding and diversifying investment opportunities and exports, the Guyana Office for Investment (GO-INVEST) was restructured. The new agency is aggressively seeking out investors and promoting Guyana as a place with which to do business. The processing of applications for concessions and other government support is expedited.


GO-INVEST is the primary contact for investors and exporters. It liaises, on their behalf, with government ministries and other agencies.

Investors are given a comprehensive summary of the steps required to commence operations and to grow their business, including the documents that have to be completed and the estimated time for their completion by the relevant agencies.


An INVESTOR ROADMAP which is available in three forms – a Manual, Fact Sheets and on the GO-INVEST Website at www.goinvest.gov.gy – outlines in five sections the following:

· Business registration;

· The process to lease or buy government and private lands;

· Permits for construction, fire safety and environmental protection;

· Applications for water, electricity and telephones;

· Laws and regulations on accounting and reporting procedures to the Guyana Revenue Authority;

· Laws and regulations on work permits as well as the hiring and severance of employees.


The last section provides a detailed list of the incentives and concessions that are applied across-the-board and a list on incentive programmes for specific sectors.

INVESTMENT INCENTIVES

Gold
Sugar
Seafoods, shrimp/fish products
Rice
Forestry (Timber/plywood etc)
Bauxite
Diamonds
Rum
Molasses
Pharmaceuticals
Gold Jewellery
Leather Products
Live Animals/Birds (Macaws & Parrots


Non-Traditional -

Agricultural Exports

Heart of Palm
Coconut
Crude oil
Copria
Plantain
Cassava
Yams
Breadfruit
Mango
Pineapple
Watermelon
Lime
Pepper
Pumpkin
Crafts

GUYANA’S MAIN EXPORT  COMMODITIES

Tel: +44 207 229 7684


Fax: +44 207 727 9809

Copyright ©  2014 Guyanahcweb. All rights reserved

Guyana High Commission        

3 Palace Court

Bayswater Road

W2 4LP

Website designed by