The Guyana Revenue Authority's information sheet distinguishes compulsory VAT registration from voluntary registration under section 11 of the VAT Act. Below the compulsory registration threshold, a business may apply to register; this possibility does not, however, mean that an application will be accepted without examination.
The activity and its place of operation must be identifiable. The applicant must also demonstrate the ability to keep the required records and an intention to make taxable supplies. For a new activity, GRA mentions contracts, financing, revenue projections and equipment acquisitions as possible evidence.
Preparing the file can usefully link each document to an aspect of the proposed activity. Financing indicates the resources available, while a contract or equipment acquisition helps give substance to the commercial project. None of these elements should be presented as independently guaranteeing registration. The issue remains consistency between the planned transactions, resources committed and proposed accounting arrangements, particularly where the first sales have not yet occurred.
We note that an absence of turnover at start-up therefore does not, by itself, rule out an application. The stated intention must, however, be substantiated. The nature of the proposed transactions and the sufficiency of supporting documents must still be assessed in the actual file.