The Guyana Revenue Authority (GRA) wishes to advise all Importers and Licenced Customhouse Brokers that with effect from July 12, 2022, the value-added tax on lubricating oil has been zero-rated upon importation and local sale.
In order to effectuate the new changes, breakouts were created in the ASYCUDA World to guide on the specific HS Codes to be used when processing customs declarations, as indicated below.
| COMMODITY CODE | TARIFF DESCRIPTION | VAT CHANGES |
|---|---|---|
| 2710197300 | Lubricating Oil | FROM: 14% | TO: 0% |
| 2710203000 | Lubricating Oil | FROM: 14% | TO: 0% |
If you require any clarification or assistance please make contact with the Customs, Excise & Trade Operations at 227-6060 Ext 2601 for further guidance.
Source: gov.gy
