Gold Declarations and Revenue Collection in Guyana

In Guyana, all gold produced by miners must be officially declared and sold to one of three authorised entities: the Guyana Gold Board (GGB), a licensed gold dealer, or a licensed trader, in accordance with the Guyana Gold Board Act, Chapter 66:01. This system ensures that gold production remains transparent, traceable, and compliant with the country’s legal and fiscal frameworks.

At the point of sale, a 5% royalty is collected in accordance with Regulation 139 of the Mining Regulations, made under the Mining Act, Cap. 65:01, and  2% tax is collected pursuant to Section 33E of the Income Tax Act, Cap. 81:01. These charges apply to both all categories of miners (excluding foreign investors) and are calculated based on the gross value of the gold sold.

The Guyana Gold Board then remits the royalties to the Guyana Geology and Mines Commission (GGMC) and the taxes to the Guyana Revenue Authority (GRA) on a monthly basis. 

The following reports reflect Guyana’s gold declarations over the four-year period from 2020 to 2023, highlighting annual production volumes and the economic value of declared gold: