GUYANA REVENUE AUTHORITY
The Guyana Revenue Authority (GRA) is required to send reports of Declaration of International Transportation of Currency hereinafter referred to as “Foreign Currency Declaration Report” to the FIU.
WHAT IS A FOREIGN CURRENCY DECLARATION REPORT?
A foreign currency declaration report is a report prepared by the GRA based on the Declaration of International Transportation of Currency forms it receives from travellers carrying foreign currency amounting to more than US$10,000 or its equivalent in any other currency, into or out of Guyana.
WHEN AND WHERE SHOULD YOU MAKE A FOREIGN CURRENCY DECLARATION?
A person is required to make a foreign currency declaration once they are carrying foreign currency amounting to more than US$10,000 or its equivalent in any other currency out of or into Guyana. The Foreign currency declaration forms are available at all international airports and border/ferry crossings in Guyana.
International Airports include:
- Cheddi Jagan International Airport – Timehri, and
- Eugene Francis Correia International Airport – Ogle
Border/Ferry Crossings include:
- Border Crossing – Guyana/Lethem
- Ferry Crossing – Guyana/Suriname
ARE THERE PENALTIES FOR FAILURE TO DECLARE OR FALSE DECLARATION?
Yes. Failure to make a declaration as required under section 36 of the AML/CFT Act or section 6 of the Foreign Exchange (Miscellaneous Provisions) Act Cap. 86:01 is an offence.
Additionally, it is an offence under section 6(5) of the Foreign Exchange (Miscellaneous Provisions) Act Cap. 86:01 to knowingly make a declaration that is untrue.
Penalties upon conviction may include the following:
- A fine of two hundred and fifty thousand dollars;
- Imprisonment for six months; and
- Forfeiture of currency found on the person or in the baggage of the traveller in respect of which a declaration was not made.