Policy 17 – VAT AND THE FISHING SECTOR 

 The Guyana Revenue Authority continues to provide assistance to the general public on various issues regarding the application of VAT. This policy addresses the Fishing Sector.

Schedule I paragraph 2 (tt) of the VAT Act zero-rates “a supply of locally produced uncooked fresh, chilled or frozen pork, beef, shrimp, mutton, fish and salted fish, but not including canned products.” Additionally, schedule I paragraph 2 (a) zero rates supplies exported from Guyana. Therefore the export of sea foods is also zero rated for VAT purposes.

Schedule I, paragraph 2 (ll) provides for the zero-rating of “a supply of outboard motors not exceeding 75HP.”

Further, Schedule I paragraph 2A (a) and (b) respectively zero rates “a supply of ice for fishing purposes” and “ a supply of knotted netting of twine, cordage or rope, made up fishing nets and other made up nets, of textile materials.”

The above provision is deemed to include a supply of rope and twine used in the fishing industry, subject to conditions and guidelines established by the Guyana Revenue Authority. Therefore rope and twine used in the fishing industry are not subject to VAT at the standard rate of sixteen percent (16%).  
 
If you require additional information or assistance on VAT, please contact the Value- Added Tax and Excise Tax Department situate at 210 ‘E’ Albert and Charlotte Streets or by the telephone numbers 227- 7567, 227-7672 or 227- 3696.