Tax Amendment Bill to help small businesses to start operations pending licenses

─ Bill read a first time in National Assembly

DPI, Guyana, Friday, 27 July 2018

The Tax Amendment Bill 2018 which was read today in the National Assembly, seeks to allow the Guyana Revenue Authority (GRA) to help small businesses to start operations pending the granting of building, fire and other permits.

Minister of Natural Resources, Raphael Trotman presenting the Tax Amendment Bill 2018 in the National Assembly

The Bill was presented in the House by Minister of Natural Resources, Raphael Trotman on behalf of the Finance Minister, Winston Jordan. When passed, the Bill will amend section 71 of the Tax Act to include a provision for the issuance of a provisional license for business premises.

Businesspersons, must, however, be able to show that the application for the license is in the process and all efforts are being made to satisfy the requirements.

The provisional license is to be issued for a period of not more than two years and a fee of 50 percent of the respective annual fee.

By: Stacy Carmichael

Image: Jameel Mohamed

 

 

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