What is GRA Compliance?
GRA compliance means meeting all tax obligations under the Guyana Revenue Authority. This includes filing tax returns, paying taxes on time, maintaining proper records, and responding to GRA requests. Non-compliance can result in fines, penalties, and even legal action.
Who needs to comply?
Every business registered in Guyana must comply with GRA requirements. This applies regardless of business size — sole traders, partnerships, and companies alike. Even if your business hasn't made a profit, you may still need to file returns.
Key GRA compliance requirements
The main requirements include: filing annual income tax returns by April 30 each year, remitting PAYE deductions monthly, filing VAT returns quarterly or monthly (if registered), maintaining proper accounting records for 7 years, and obtaining a GRA compliance certificate for tenders and licences.
Common mistakes Guyanese SMEs make
Missing filing deadlines is the most common issue. Others include: incorrect classification of employees vs contractors, failing to deduct PAYE properly, mixing personal and business expenses, and not keeping receipts for the required period.
GRA compliance certificate
A GRA compliance certificate confirms your tax affairs are up to date. You'll need it for: bidding on government tenders, renewing business licences, applying for financing, and partnering with larger companies that require due diligence.
How BizHub GY helps
BizHub GY's Compliance Vault stores all your GRA documents with expiry tracking. Our agents handle the annual GRA compliance application as part of your plan. We send automated 15/7/1 day reminders so you never miss a deadline.