Since 1988, the Government of Guyana has opened the economy to market-oriented reforms based on the liberalization of the trade and investment regime and the liberalization of the foreign exchange market. Guyana is the most liberalized market in the Caribbean. Clearance takes 2½ to 3½ days, though many importers claim that it takes 2 to 3 weeks. Customs is upgrading the computer system and is targeting a clearance time of 2 to 3 days.
An importer should be yearly registered with the Guyana National Bureau of Standards by completing and submitting to the Bureau the prescribed application form with a registration fee of $15,000.00. Goods imported should be fit for the purpose intended and should be safe for use. An importer should purchase from sources which issue warranties and which could be easily passed won to consumers.
When an importer places an order with a foreign supplier, it is essential that the goods received conform to the specifications of the order. An importer must ensure that the supplier provides products that respond to the settled quality requirements. The climatic conditions of Guyana should be specified.
The Government has lowered tariffs on many imports to between 0 and 20 percent. In addition to whatever the applicable tariff is on the imported goods, a consumption tax is levied based on CIF value plus tariff. The consumption tax rate ranges from 0 to 30 percent, though some goods are higher.
Import Documentation
In April 1996, Guyana introduced a computerized customs system, ASYCUDA. Local customs brokers are available to assist with document preparation. Many are still unfamiliar with the new system, sometimes making mistakes that cause lengthy delays.
Prohibited imports include the following: firearms, pharmaceuticals, chemicals, wheat, and flour.
Taxation
Guyana has a top corporate tax rate of 35%. An additional 10% is applied only to profits of commercial companies. The Government introduced incentives for the production and business sectors by identifying certain items for consumption tax exemption in the following areas: textiles ( weaving machines, knitting machines, sewing machines), construction (prefabricated buildings of aluminum and of steel), agriculture (manure spreader and fertilizer distributors), manufacture (machinery for manufacture of fruit juices, machinery for the preparation of meat and poultry, machinery for preparation and tanning of hides), mining (Gold and diamond machinery), and forestry (saw blades).
Standards, Labeling, and Marking Requirements
These must be in English or have an English translation. Labeling, marking and other consumer protection requirements are extremely limited in Guyana. Those that do exist are set by the National Bureau of Standards. | 
