Putting measures in place to utilise solar energy could see importers being eligible for tax exemptions. This is according to information released by the Guyana Revenue Authority (GRA) which has revealed that machinery and equipment imported for the purposes of generating and utilising renewable energy will now attract customs duty and value-added tax exemptions under existing laws.
According to the Revenue collecting entity, these will be granted under item 49 (a) of the First Schedule, Part III B (ii) of the Customs Act, Chapter 82:01, and Paragraph 12 of Schedule II of the Value-Added Tax Act, Cap 81:05. The forgoing state, “Machinery and equipment for obtaining, generating and utilising energy from renewable energy resources, including solar panels, solar lamps, deep cycle batteries, solar generators, solar water heaters, solar cookers, direct current (DC) solar refrigerators, direct current (DC) solar freezers, direct current (DC) solar air-conditioners, wind turbines, water turbines and power inverters, and energy efficient lighting, including compact fluorescent lamps and light emitting diode (LED lamps.”
As such, GRA said that it should be noted that while the schedules do not contain specific provisions for exemptions for accessories, fittings or mountings for the above items, once they are shipped and presented with the machinery/equipment and are related to and clearly intended for use with the machinery and equipment in the same consignment, they will be exempted.
Moreover, if presented separately, duties and taxes will be payable.
Persons desirous of taking advantage of such exemptions can make contact with the GRA on telephone numbers: 227: 6060 or 227-8222 ext. 1201-4.
