The Guyana Revenue Authority (GRA) is undertaking a review of the excise tax on alcoholic beverages, which could soon be determined based on the alcoholic strength.
In a press statement issued on Monday, the GRA said its proposal for the review, which was approved by the Ministry of Finance, includes changes in the application of the ad valorem tax (a tax based on a fixed percentage of the product value) to specific tax (a tax calculated based on the alcoholic strength.)
The appraisal of the excise tax on alcoholic beverages, the GRA said, is