Guyana: Tax preparation time
* indicates monthly or quarterly data series
| Guyana |
Tax preparation time, in hours |
|---|---|
| Latest value | 256 |
| Year | 2019 |
| Measure | hours |
| Data availability | 2005 - 2019 |
| Average | 270 |
| Min - Max | 256 - 288 |
| Source | The World Bank (doing business survey) |
The latest value from 2019 is 256 hours, unchanged from 256 hours in 2018. In comparison, the world average is 235 hours, based on data from 184 countries. Historically, the average for Guyana from 2005 to 2019 is 270 hours. The minimum value, 256 hours, was reached in 2013 while the maximum of 288 hours was recorded in 2005.
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Definition: Time to prepare and pay taxes is the time, in hours per year, it takes to prepare, file, and pay (or withhold) three major types of taxes: the corporate income tax, the value added or sales tax, and labor taxes, including payroll taxes and social security contributions.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 26.91 | 2005 | percent |
| Government spending, in dollars | 0.22 | 2005 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -5.74 | 2023 | percent |
| Government debt | 26.43 | 2023 | percent |
| Commercial tax rate | 30.60 | 2019 | percent |
| Tax preparation time | 256 | 2019 | hours |
| Number of taxes | 35 | 2019 | taxes |
| Foreign aid | 198.98 | 2022 | million U.S. dollars |