Guyana income tax rates
Rates of income tax on the chargeable income of a person other than a company, set by sections 36 and 36A of the Income Tax Act, Chapter 81:01, together with the personal allowance (personal deduction) under section 20(1)(a). Guyana taxes individuals on an annual chargeable-income basis and collects from employees monthly through PAYE. Chargeable income is total income less the personal allowance and the other statutory deductions in s. 20.
What this value means
CORRECTION TO THE BRIEF — THE RATES ARE 25/35, NOT 28/40. The launching brief said Guyana 'uses a two-rate structure (28%/40%)'. That was true through year of income 2024 and is now two years stale. The Fiscal Enactments (Amendment) Act 2025 (Act No. 2 of 2025) cut s. 36 from 28 to 25 per cent and s. 36A from 40 to 35 per cent with effect from year of income 2025, and simultaneously moved the band boundary from GYD 2,400,000 to GYD 3,120,000. Act No. 3 of 2026 then moved the boundary again, to GYD 3,360,000, without changing the rates. Read s. 36 verbatim above. WHAT ACT No. 3 OF 2026 ACTUALLY DID (gazetted Official Gazette Extraordinary, Tuesday 17 February 2026, Legal Supplement A): substituted 'one million, six hundred and eighty thousand dollars' for 'one million, five hundred and sixty thousand dollars' in ss. 8(1) and (4), 20(1)(a) and 60(1)(a); substituted 'three million, three hundred and sixty thousand dollars' for 'three million, one hundred and twenty thousand dollars' in ss. 36 and 36A; and deleted 'Timber' from Part III of the Fifth Schedule. All Income Tax Act and Corporation Tax Act amendments run from the year of income commencing 1 January 2026 — so the Act was gazetted six weeks AFTER the measures it enacts took effect, which is normal Guyanese practice (the Budget is presented in January, the Fiscal Enactments Act follows in February). THRESHOLD IS A MONTHLY NUMBER IN POLITICS, AN ANNUAL ONE IN LAW. Budget 2026 (presented 26 January 2026 by Senior Minister with responsibility for Finance Dr Ashni Singh) announced 'a further increase of the threshold to $140,000 monthly, with effect from year of income 2026'; the statute expresses the same thing as GYD 1,680,000 per annum. Trajectory: GYD 65,000/month (2020-2021), 75,000 (2022), 85,000 (2023), 100,000 (2024), 130,000 (2025), 140,000 (2026). ONE-THIRD RULE: s. 20(1)(a) gives the GREATER of GYD 1,680,000 and one third of total income from all sources (excluding income subject to s. 39(1) withholding), so higher earners get a proportionally larger allowance — a payroll engine that hard-codes the flat GYD 1,680,000 will over-tax anyone earning more than about GYD 5,040,000 a year. OTHER s. 20 DEDUCTIONS, all separate from the personal allowance: child allowance GYD 120,000 per child under 18 per year, capped at GYD 10,000 per month per child (s. 20(1)(b)); second-job allowance GYD 600,000 per year capped at GYD 50,000 per month (s. 20(1)(c)); overtime allowance GYD 600,000 per year capped at GYD 50,000 per month (s. 20(1)(d)); medical and life insurance premiums, the lesser of 10 per cent of gross salary and GYD 50,000 per month (GYD 600,000 per year for the self-employed). NIS: employee National Insurance contributions of 5.6 per cent of insurable earnings, subject to a monthly ceiling that produced a GYD 15,680 monthly maximum contribution in 2026, are deductible and are NOT income tax. Net property tax on individuals was abolished by Act No. 3 of 2026 s. 5 with effect from year of income 2025. TRAP — 'YEAR OF INCOME' vs 'YEAR OF ASSESSMENT'. Guyanese sources quote both; year of assessment 2027 is year of income 2026. The GRA's own static page gra.gov.gy/income-tax-rates-threshold/ was still showing only year of assessment 2024 (allowance GYD 1,020,000, 28 per cent on the first GYD 2,040,000, 40 per cent on the balance) when checked on 23 July 2026 despite an 'Updated 2 February 2026' stamp — do NOT use it. The current figures are on the GRA's annual notice page, https://gra.gov.gy/notice-to-employers-employees-self-employed-persons-revised-personal-allowance-and-deductions-for-income-tax-2026/ , which is re-issued each January and is the right watch target alongside the February Fiscal Enactments Act.
Earlier values
| From | Value | Source |
|---|---|---|
| 2024-01-01 | structured | Income Tax Act, Chapter 81:01, ss. 36 and 36A before the Act |
| 2025-01-01 | structured | Income Tax (Amendment) Act No. 2 of 2025 as summarised in th |
Get it programmatically
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# History: curl https://latamref.dev/v1/gy/income-tax/history?from=2020-01-01
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