Individual - Deductions

Last reviewed - 04 December 2023

Personal deductions

All individuals, including resident aliens, can deduct the following in determining taxable income.

  • Social security contributions (4.83% of salary).
  • Life insurance premiums.
  • Donations (restrictions may apply).

Standard deductions

A standard deduction of GTQ 48,000 is provided in addition to the personal deductions described above.