Withholding tax is chargeable on the following classes of income:
( Section 39)
1. On any gross distribution made to any person not resident in Guyana
2. any gross payment other than interest identified below, made to any person not resident not resident in Guyana or to any person on behalf of such non-resident person, where such person is not engaged in trade or business in Guyana, so, however, that in the case of payment of income arising outside Guyana to such a person withholding tax shall not be payable;
3. gross payments, being interest earned on saving accounts held at commercial banks and other financial institutions by any person whether resident in Guyana or not;
4. gross payments, being interest earned on loans secured by bonds and similar instruments by any person resident in Guyana or not;
5. every discount earned on treasury bills by the person who discounts the bill whether on or before maturity.
The following payments to non- residents are subject to withholding tax:
1. interest on any debt, mortgage or other security;
4. management charges or charges for the provision of personal services and technical managerial skills;
5. premium (other than premiums paid to insurance companies and contributions to pension funds and schemes) commissions, fees and licences;
6. discounts, annuities or other annual or periodic payments;
8. such other payments as may from time to time be prescribed.
Rates of withholding Tax - 20%
Payment of withholding tax
Withholding tax must be paid within thirty (30) days of payment of amounts subject thereto.