Guyana’s Mining Fiscal Regime: H2 2015
Timetric’s Guyanese fiscal regime report outlines governing bodies, governing law, licenses, rights and obligations and tax-related information on two commodities: bauxite and gold.
Timetric's fiscal regime report covers Guyana which has long been known for its significant production of gold and diamonds. The country’s mining industry is governed by the Ministry of Natural Resources and Environment, and agencies working under it. The Guyana Geology and Mines Commission (GGMC) oversees the mining industry, and have implemented modern mining practices and codes of operation. The Mining Act No.20 of 1989 is the main regulating law for mining in the country.
The report outlines the governing bodies, governing law, licenses, rights, obligations and key fiscal terms which includes royalty, corporate income tax, withholding tax, depreciation, capital gain tax, loss carry forward, mining sector incentive, consumption tax concession and value added tax (VAT)Reasons To Buy
To gain an overview of Guyana’s mining fiscal regime
- The Ministry of Natural Resources and Environment is the main body responsible for forestry, mining, environmental management, wildlife, protected areas, land use planning and coordination, and climate change.
- The Environmental Protection Agency aims to take all necessary measures to ensure the prevention and control of pollution, to assess the impact of economic development on the environment, and monitor the sustainable use of natural resources.
- The Mining Act No. 20 of 1989 is the main law for mining in Guyana. It makes provisions with respect to the prospecting and mining of metals, minerals and precious stones, for regulating their conveyance and other matters relating to the laws.
- EXECUTIVE SUMMARY
- Table The Mining Industry in Guyana – Fiscal Regime Terms and Other Taxes, 2015
- THE GUYANESE MINING INDUSTRY – GOVERNING BODIES
- Guyana Geology and Mines Commission
- Environmental Protection Agency
- THE GUYANESE MINING INDUSTRY – GOVERNING LAW
- THE GUYANESE MINING INDUSTRY – MINING LICENSES
- Prospecting License
- Mining License
- THE GUYANESE MINING INDUSTRY – KEY FISCAL TERMS
- Relinquish of Prospecting Area
- Table The Mining Industry in Guyana – Relinquish of Prospecting Area (%), 2015
- Corporate Income Tax
- Withholding Tax
- Capital Gain Tax
- Loss Carry Forward
- Mining Sector Incentive
- Consumption Tax Concession
- Value Added Tax (VAT)
- Secondary Research
- Primary Research
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