Guyana

Individual - Significant developments

Last reviewed - 18 July 2022

The 2022 National Budget was presented on 26 January 2022. During their presentation, the Government proposed certain fiscal and tax measures. It is expected that some of the proposed measures will be enacted in the coming months. Until such time, the following changes do not form part of Guyana's tax legislation.

Personal Income Tax

Proposed measures:

  • Increase in monthly income tax threshold from GY$65,000 to GY$75,000
  • Insurance premiums paid for life and medical insurance to be deductible against chargeable income up to 10% of income or GY$30,000 monthly, whichever is lower
  • Ceiling on low-income loans obtained through commercial banks under the low-income housing loans programme supported by Government to be increased from GY$12m to GY$15m