Finance Ministry, GRA to give directive on removal of VAT, duty on sport equipment

Vice-President Dr. Bharrat Jagdeo has indicated that the Ministry of Finance and the Guyana Revenue Authority (GRA) would give the directive on what will qualify under the new policy of the government to remove Value Added Tax (VAT) and duty on sport equipment.

These measures are part of the G$4.6 billion allocation for sport in Budget 2024.

“GRA submitted a list to the Ministry of Finance [and] they can probably give it to you,” Jagdeo said at his weekly press briefing.

Jagdeo indicated that based on feedback from the sport fraternity, it was highlighted that “basic stuff, balls and even stuff like that, they have a VAT on it, and we realised that would not support what we are trying to do.”

Click to read more: Policy 20 – VAT on Sports Gear and Sports Equipment

In late December, President Ali hinted that the government would put mechanisms in place to foster the sector’s further development, hoping to propel Guyana as the premier destination for entertainment and sport tourism in the region.