Latest update April 24th, 2024 12:59 AM
Mar 13, 2010 News
Homeowners interested in equipping their homes with alternative energy can benefit from tax exemptions.
According to Guyana Revenue Authority (GRA), Commissioner–General, Khurshid Sattaur, tax exemptions are granted on certain equipment used in the generation of alternative energy when imported into Guyana for household purposes.
All alternative energy equipment of a type used for household purposes is exempted from customs duty and attracts Value-Added-Tax (VAT) a rate of zero percent.
“However, persons wishing to import Alternative Energy Equipment must apply to the Tax Exemptions Processing and Verification Unit, Guyana Revenue Authority at Lot 357 Lamaha and East Streets, Georgetown to obtain the relevant tax exemptions.”
All applications, GRA said, should include the applicant’s Taxpayer Identification Number (TIN), a legible invoice or quotation from supplier, airway bill or bill of laden and the C-72 Customs Declaration Form.
Alternative energy equipment used for commercial purposes will attract customs duty at a rate of 20 per cent and VAT at the standard rate of 16 per cent.
With fuel and other overhead costs putting consumers under strain, there has been a marked increase in the number of persons using solar energy and the inverter systems in areas prone to blackout.
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