Submission of Transaction Records to Guyana Gold Board
In accordance with the requirement for Licensed Traders to maintain proper records of their gold transactions, the Guyana Gold Board has instituted the 14-Day Extract of Traders Transactions, commonly referred to as the Trader’s Record Book. This record book is printed in triplicate and is available for purchase at a cost of three thousand dollars (GYD $3,500) from the Board’s Head Office in Georgetown and its Branch Offices in Bartica and Port Kaituma. Licensed Traders are required to record all gold transactions in this book, which must be produced and submitted to the Compliance Department whenever transacting business with the Guyana Gold Board or any of its Licensed Gold Dealers.
To further enhance compliance and improve the monitoring of royalty and tax deductions made by traders on behalf of miners, the Board introduced an electronic submission option for the 14-Day Extract in 2024. Licensed Traders are now required to complete the prescribed electronic form and submit it directly to the Compliance Department via email at ggbinfo@ggb.gov.gy. The electronic form is found below.
For additional guidance or clarification, Licensed Traders may contact the Compliance Department through WhatsApp at +592 703-8627 or by telephone at (+592) 225-3139, extensions 13 or 22.
Sanctions for Non-Compliance
Failure to comply with the provisions of Sections 9(2) and 10 of the Guyana Gold Board Act may result in penalties under Section 23 of the Act, including:
A fine of seventy-five thousand dollars (GYD $75,000) for the first conviction;
A fine of seventy-five thousand (GYD $75,000) and imprisonment for five (5) years for any second or subsequent conviction, unless the Court imposes a lesser sentence for special reasons recorded in writing; and
The forfeiture of the gold in respect of which the offence was committed.
