Guyana

Individual - Taxes on personal income

Last reviewed - 10 February 2020

Individuals who are resident in Guyana are subject to tax on their worldwide income. A non-resident individual is only liable to tax on income derived from Guyana. A temporary resident is not liable to tax on income arising abroad, whether received in Guyana or not.

Income is defined under the Act as any gains or profits from any trade, business, profession, or vocation for whatever period of time it may have been carried on or exercised in Guyana.

Personal income tax rates

Resident individuals (i.e. present in Guyana for at least 183 days in the calendar year) will be entitled to a personal allowance of seven hundred and eighty thousand dollars GYD780,000 or one third (1/3) of their income (per annum) whichever is greater.

Individuals with chargeable income of less than one million five hundred and sixty thousand dollars (GYD1,560,000) per annum pay tax at the rate of 28%; where their chargeable income exceeds one million five hundred and sixty thousand dollars (GYD1,560,000) per annum, the incremental rate of tax applicable is 40%.