BDO in Guyana

BDO in Guyana

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We've just passed the first quarter of the year. Check out our Tax calendar for May and stay up to date with statutory tax obligations.
#BDO #Guyana #Tax
Happy Arrival Day!
Wishing a joyful Eid to our family and friends.
#eid2022 #eidmubarak
Government has announced the removal of #VAT on Cement with immediate effect.
Are you gaining momentum or falling behind?

Focus is the concentration of interest or activity on a single object. It works when we say "yes" to one thing and "no" to everything else. This is the main secret of productivity: only by giving up other tasks, we can qualitatively perform one: the most important one.

Productivity experts recommend working in “focus blocks”.

A focus block is a period of time dedicated to working on a priority task that requires increased concentration and energy. The principle is that you work without distraction during the parts of the day when your productivity is at its peak.

To begin with, observe your activity and determine the best time for intensive work. Most people are energetic in the morning. Eliminate distractions and work in intervals, clearly separating periods of work and rest - studies show that breaks increase productivity.

This approach will help optimise your peak energy and attention span. By prioritising complex projects at peak times, you'll begin to see progress more clearly, while also freeing up the rest of the day for routine work.

To stay focused longer, eliminate as many distractions as you can during work. Lock your phone in a drawer. Have set times to check your email. Quit constantly checking your Twitter or Facebook feeds for new tweets or posts.

Also, focus often disappears due to lack of results evaluation. Your brain naturally wants to know if there is progress or not in achieving goals, and this is impossible to understand unless you specifically focus on evaluation. From a practical point of view, this means that we need to analyse our results.

No matter what strategy you use, just remember that focus will bring positive results.

#bdo #bdoguyana #productivity #strategy #work
Let's celebrate Earth day by looking after and respecting our universal home.
#earthday #investinourplanet #savetheplanet #BDOGuyana
Remember May 3, is the final day to submit Tax Returns and pay any outstanding balances for 2021.
#BDOGuyana #Tax
Happy Easter 🐰
Success in business comes to those who are ready for it. Ready not only with desire, but also with understanding - how to achieve this.

The laws of successful business show that an important component of achieving success is to correctly identify the key factors of this business and keep it in a constant order.
Take these key factors for some milestones and use them to determine if your business is moving in the right direction.

Many entrepreneurs use a business plan as a basis for identifying such business milestones, which must include a list of key success factors for the future.

Sell each service or unit of product at a profit

Before starting a business or launching a new product, evaluate how profitable you will sell it. If at the beginning it is impossible to make such a calculation, you need to develop a set of measures that will make your sales profitable.

Develop new products, ensuring the high quality of existing ones.

Make sure all your market offers are in demand: created and selected in response to market needs. And the more acute these needs, the better for your business. Also you should have constant direct feedback from your target audience. Research your customers, find out their needs and their attitude to your offer.

Create and maintain a high level of customer satisfaction.

An important success factor needed to support your business is to provide customers with the best services. Satisfied customers are likely to return to you. Better yet, give your customers even more than they expect.

Discipline of implementation

You can learn to plan and structure processes for years, but the most important thing is to follow discipline. To succeed, you must first accustom yourself to discipline. If there is discipline, then there will be a result.

Proper prioritisation

Entrepreneurs usually have a limited amount of resources - time and money. With the right focus, the business develops, with the wrong, the entrepreneur is immersed in current tasks. And his business is not growing as fast as it should. Learn to set priorities - the result of work depends on them.

However, the most important key to success is to maintain a reputation.
Do what you promised. The fate of your business depends on it. Reputation is the best investment in your name. Yes, it is long-term. And before it starts working, it may take a few months or even years. However, it costs more than money.

#bdo #bdoguyana #business #success #tools
Sea cruises industry is a very capital-intensive sector of the tourism business, which depends on geographical features and weather conditions and requires significant investments in port facilities and the transport fleet. Sea vessels enter more than 2,000 seaports in more than 120 countries of the world. The technical equipment of the ports is constantly growing. In addition, their integration with the network of land transport systems is increasing due to railways, road communications, and river routes.

According to the UNWTO, cruise vacations remained the only profitable destination for world tourism even during the economic crisis.

Currently, 70% of the world's cruise fleet belongs to three holdings: Carnival Group, Royal Caribbean Cruises Ltd. (RCCL) and Star Group. They account for 80% of the global cruise market.

Royal Caribbean Cruises Ltd. was formed in 1997 based on the Royal Caribbean Cruise Line founded in 1968 and the acquired Celebrity Cruises company, created in 1988. After the merger, it was decided to retain both brands. But Royal Caribbean Cruise Line was renamed to Royal Caribbean International, and Royal Caribbean Cruises Ltd. became the parent company. A distinctive feature of the company is the high-quality organisation of leisure for its guests. This includes numerous sports activities, various master classes, and educational lessons (lessons in foreign languages and dance), culinary demonstrations, lectures about the ports of call of the cruise, their history and culture.

The RCCL holding includes 42 new cruise ships that operate over 200 routes. As of December 31, 2020, Royal Caribbean Cruises owned a total of 61 ships. Royal Caribbean International was the company's brand operating the highest number of ships, namely 24. Celebrity Cruises was the brand recording the second-highest figure, managing a total of 14 ships as of 2020.

Caribbean Islands for the most part rely on tourism. In 2019, this sector directly contributed to nearly one third of the gross domestic product (GDP) of Aruba and made up around one quarter of the GDP in the British and the U.S. Virgin Islands. Caribbean Islands reached double rates of direct employment in tourism in 2019, with Saint Lucia holding the highest share in the whole region.

In the Caribbean region, the tourism sector contributed more than 24 Bn USD to the gross domestic product in 2020. Among all listed Caribbean Islands, Cuba and the Dominican Republic registered the highest total contributions of this sector to the GDP, with nearly 6 Bn USD each. By 2025, the economic contribution to the Caribbean tourism sector is projected to be nearly 44,664 Mn USD.

#bdo #bdoguyana #cruise #tourism #transport
Data privacy has been and continues to be a crucial topic, and the attention to it has been increasing over the years to bring more awareness. This is especially true with the development of technology and the exchange of huge amount of private and sensitive data over the Internet, which has led to an increase of data privacy compliance across all organisations who manage this data.

The data shared on devices and networks is very unique, and if it is lost or shared without permission, it is a breach of data privacy which has devastating consequences for organisations, both reputationally and financially.

Applications on mobile phone or computer are among those things that can put personal data privacy at great risk, increasing the chances of identity theft, which has become a common occurrence, especially in the digital age. Organisations are also being targeted much more with phishing attacks, requiring all organisations to be much more diligent on educating their employees to be aware of such risks and to properly identify them.

The more we know about data and its importance, the more we can protect our data privacy from many risks; however more and more pressing questions arise. Shareholders and business owners often ask themselves: Is my organisation compliant with the legislation? When the data breach occurs, what do I do? How can we manage huge amounts of private data and how must we govern it? Do I clearly understand the consequences of non-compliance? All these questions are valid and must have answers.

One company may own the personal information of millions of customers and employees, in addition to confidential business documents and financial records of the organisation and partners. A data breach is not if, it is when. It is up to organisations to make sure the data stays intact, and, in the case of a breach, they have the quick steps of reporting and minimising the damage and implement them in minimal time.

More than half of the Caribbean Islands have adopted the Data Protection Act and are compliant with Data Privacy Legislation. A percentage of the Caribbean countries and territories have not implemented any laws regarding Data Privacy and, in some of them the laws have only been partially taken to force.

BDO’s team of Data Protection advocates operate in the Caribbean to push for stronger protection of individual data rights. The key focus is aligning data protection legislation with international standards. It is critical to facilitate data flows between the Caribbean and its trading partners foster regulatory cooperation in the subregion to harmonise data protection regimes and enable their cross-border enforcement; and create regulatory and policy tools to provide practical guidance for data users and individuals on their rights and obligations.

While not every Caribbean Island is compliant yet, as a region Caribbean has set a strong mentality and set of tools to put them on the route to Data Privacy compliance.

#bdo #bdoguyana #data #privacy #security

BDO's network extends across 164 countries and territories, with 95,414 people working out of 1,713 offices. We provide audit, tax, and financial advisory services to businesses across the world.

Operating as usual

05/05/2022

We've just passed the first quarter of the year. Check out our Tax calendar for May and stay up to date with statutory tax obligations.

05/05/2022

Happy Arrival Day!

02/05/2022

Wishing a joyful Eid to our family and friends.

Gov’t removes VAT on cement with immediate effect 29/04/2022

Gov’t removes VAT on cement with immediate effect

Government has announced the removal of on Cement with immediate effect.

Gov’t removes VAT on cement with immediate effect Finance Minister Dr. Ashni Singh has announced the removal of Value Added Tax (VAT) on cement with effect from today April 29, 2022. “It would be recalled that Government had previously announced i…

25/04/2022

Are you gaining momentum or falling behind?

Focus is the concentration of interest or activity on a single object. It works when we say "yes" to one thing and "no" to everything else. This is the main secret of productivity: only by giving up other tasks, we can qualitatively perform one: the most important one.

Productivity experts recommend working in “focus blocks”.

A focus block is a period of time dedicated to working on a priority task that requires increased concentration and energy. The principle is that you work without distraction during the parts of the day when your productivity is at its peak.

To begin with, observe your activity and determine the best time for intensive work. Most people are energetic in the morning. Eliminate distractions and work in intervals, clearly separating periods of work and rest - studies show that breaks increase productivity.

This approach will help optimise your peak energy and attention span. By prioritising complex projects at peak times, you'll begin to see progress more clearly, while also freeing up the rest of the day for routine work.

To stay focused longer, eliminate as many distractions as you can during work. Lock your phone in a drawer. Have set times to check your email. Quit constantly checking your Twitter or Facebook feeds for new tweets or posts.

Also, focus often disappears due to lack of results evaluation. Your brain naturally wants to know if there is progress or not in achieving goals, and this is impossible to understand unless you specifically focus on evaluation. From a practical point of view, this means that we need to analyse our results.

No matter what strategy you use, just remember that focus will bring positive results.

22/04/2022

Let's celebrate Earth day by looking after and respecting our universal home.

21/04/2022

Remember May 3, is the final day to submit Tax Returns and pay any outstanding balances for 2021.

14/04/2022

Happy Easter 🐰

12/04/2022

Success in business comes to those who are ready for it. Ready not only with desire, but also with understanding - how to achieve this.

The laws of successful business show that an important component of achieving success is to correctly identify the key factors of this business and keep it in a constant order.
Take these key factors for some milestones and use them to determine if your business is moving in the right direction.

Many entrepreneurs use a business plan as a basis for identifying such business milestones, which must include a list of key success factors for the future.

Sell each service or unit of product at a profit

Before starting a business or launching a new product, evaluate how profitable you will sell it. If at the beginning it is impossible to make such a calculation, you need to develop a set of measures that will make your sales profitable.

Develop new products, ensuring the high quality of existing ones.

Make sure all your market offers are in demand: created and selected in response to market needs. And the more acute these needs, the better for your business. Also you should have constant direct feedback from your target audience. Research your customers, find out their needs and their attitude to your offer.

Create and maintain a high level of customer satisfaction.

An important success factor needed to support your business is to provide customers with the best services. Satisfied customers are likely to return to you. Better yet, give your customers even more than they expect.

Discipline of implementation

You can learn to plan and structure processes for years, but the most important thing is to follow discipline. To succeed, you must first accustom yourself to discipline. If there is discipline, then there will be a result.

Proper prioritisation

Entrepreneurs usually have a limited amount of resources - time and money. With the right focus, the business develops, with the wrong, the entrepreneur is immersed in current tasks. And his business is not growing as fast as it should. Learn to set priorities - the result of work depends on them.

However, the most important key to success is to maintain a reputation.
Do what you promised. The fate of your business depends on it. Reputation is the best investment in your name. Yes, it is long-term. And before it starts working, it may take a few months or even years. However, it costs more than money.

08/04/2022

Sea cruises industry is a very capital-intensive sector of the tourism business, which depends on geographical features and weather conditions and requires significant investments in port facilities and the transport fleet. Sea vessels enter more than 2,000 seaports in more than 120 countries of the world. The technical equipment of the ports is constantly growing. In addition, their integration with the network of land transport systems is increasing due to railways, road communications, and river routes.

According to the UNWTO, cruise vacations remained the only profitable destination for world tourism even during the economic crisis.

Currently, 70% of the world's cruise fleet belongs to three holdings: Carnival Group, Royal Caribbean Cruises Ltd. (RCCL) and Star Group. They account for 80% of the global cruise market.

Royal Caribbean Cruises Ltd. was formed in 1997 based on the Royal Caribbean Cruise Line founded in 1968 and the acquired Celebrity Cruises company, created in 1988. After the merger, it was decided to retain both brands. But Royal Caribbean Cruise Line was renamed to Royal Caribbean International, and Royal Caribbean Cruises Ltd. became the parent company. A distinctive feature of the company is the high-quality organisation of leisure for its guests. This includes numerous sports activities, various master classes, and educational lessons (lessons in foreign languages and dance), culinary demonstrations, lectures about the ports of call of the cruise, their history and culture.

The RCCL holding includes 42 new cruise ships that operate over 200 routes. As of December 31, 2020, Royal Caribbean Cruises owned a total of 61 ships. Royal Caribbean International was the company's brand operating the highest number of ships, namely 24. Celebrity Cruises was the brand recording the second-highest figure, managing a total of 14 ships as of 2020.

Caribbean Islands for the most part rely on tourism. In 2019, this sector directly contributed to nearly one third of the gross domestic product (GDP) of Aruba and made up around one quarter of the GDP in the British and the U.S. Virgin Islands. Caribbean Islands reached double rates of direct employment in tourism in 2019, with Saint Lucia holding the highest share in the whole region.

In the Caribbean region, the tourism sector contributed more than 24 Bn USD to the gross domestic product in 2020. Among all listed Caribbean Islands, Cuba and the Dominican Republic registered the highest total contributions of this sector to the GDP, with nearly 6 Bn USD each. By 2025, the economic contribution to the Caribbean tourism sector is projected to be nearly 44,664 Mn USD.

01/04/2022

Data privacy has been and continues to be a crucial topic, and the attention to it has been increasing over the years to bring more awareness. This is especially true with the development of technology and the exchange of huge amount of private and sensitive data over the Internet, which has led to an increase of data privacy compliance across all organisations who manage this data.

The data shared on devices and networks is very unique, and if it is lost or shared without permission, it is a breach of data privacy which has devastating consequences for organisations, both reputationally and financially.

Applications on mobile phone or computer are among those things that can put personal data privacy at great risk, increasing the chances of identity theft, which has become a common occurrence, especially in the digital age. Organisations are also being targeted much more with phishing attacks, requiring all organisations to be much more diligent on educating their employees to be aware of such risks and to properly identify them.

The more we know about data and its importance, the more we can protect our data privacy from many risks; however more and more pressing questions arise. Shareholders and business owners often ask themselves: Is my organisation compliant with the legislation? When the data breach occurs, what do I do? How can we manage huge amounts of private data and how must we govern it? Do I clearly understand the consequences of non-compliance? All these questions are valid and must have answers.

One company may own the personal information of millions of customers and employees, in addition to confidential business documents and financial records of the organisation and partners. A data breach is not if, it is when. It is up to organisations to make sure the data stays intact, and, in the case of a breach, they have the quick steps of reporting and minimising the damage and implement them in minimal time.

More than half of the Caribbean Islands have adopted the Data Protection Act and are compliant with Data Privacy Legislation. A percentage of the Caribbean countries and territories have not implemented any laws regarding Data Privacy and, in some of them the laws have only been partially taken to force.

BDO’s team of Data Protection advocates operate in the Caribbean to push for stronger protection of individual data rights. The key focus is aligning data protection legislation with international standards. It is critical to facilitate data flows between the Caribbean and its trading partners foster regulatory cooperation in the subregion to harmonise data protection regimes and enable their cross-border enforcement; and create regulatory and policy tools to provide practical guidance for data users and individuals on their rights and obligations.

While not every Caribbean Island is compliant yet, as a region Caribbean has set a strong mentality and set of tools to put them on the route to Data Privacy compliance.

Videos (show all)

December 2021 Guyana Tax Calendar
August Tax Calendar
BDO - celebrating one year in Guyana

Products

Accounting, Audit, Advisory, Payroll, Tax, Consulting, Corporate, Legal

Telephone

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bdo.gy

Address


127 Quamina Street
Georgetown

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 17:00

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