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Guyana Personal Tax Guide: Flat PIT 28% 2026

Guyana applies a flat personal income tax (PIT) rate of 28% on employment and business income. The first GYD 100,000 of monthly income (GYD 1,200,000 per year) is tax-free. Income above this threshold is taxed at a flat 28%. Here is how Guyanese personal tax works in 2026.

Personal Income Tax in Guyana is governed by the Income Tax Act and administered by the Guyana Revenue Authority (GRA). The rate was reduced from 33.3% to 28% effective 2023. The tax year is the calendar year. Residents are taxed on worldwide income, while non-residents are taxed only on Guyanese-source income. Guyana's flat system is simple compared to regional peers — Barbados uses a progressive system with rates up to 33.5%, Trinidad and Tobago caps at 25%, and Jamaica has progressive rates up to 30%. Check residency rules →

Real-world example: An employee earning GYD 300,000 per month pays 0% on the first GYD 100,000 = GYD 0, and 28% on the remaining GYD 200,000 = GYD 56,000. Monthly PIT: GYD 56,000. Effective tax rate: 18.7%. For a higher earner at GYD 600,000/month: 0% on GYD 100K, 28% on GYD 500K = GYD 140,000/month. Effective rate: 23.3%. Compared to regional peers, Guyana's flat 28% is competitive, though Trinidad and Tobago's top rate is 25%. NIS contributions are separate →

Personal Income Tax Rates 2026

  • 0% — Monthly income up to GYD 100,000 (GYD 1,200,000 per year tax-free)
  • 28% — Monthly income above GYD 100,000 (flat rate on all chargeable income)

The annual equivalent: GYD 1,200,000 tax-free per year. The flat rate applies to employment income, business income for individuals, and other personal income. There is no separate surtax or additional levy. Guyana does not have a joint filing system for married couples — each individual files separately based on their own income.

Taxable Income Categories

Guyanese PIT applies to several categories of income:

  • Employment income: Salaries, wages, bonuses, allowances, benefits-in-kind — all subject to flat 28% via PAYE withholding
  • Business income: Self-employed individuals and sole proprietors are taxed at the flat 28% rate on net profits
  • Rental income: Income from property leasing is taxed at 28% after allowable deductions
  • Investment income: Dividends, interest, and royalties have separate withholding tax rates rather than being included in PIT
  • Capital gains: No separate capital gains tax for individuals (corporate gains taxed as ordinary income)

Employment income is subject to monthly PAYE withholding by the employer. The employer deducts PIT and NIS contributions before paying net salary. Employees receive a payslip showing gross pay, deductions, and net pay. Annual filing requirements →

Tax Credits and Deductions

Guyana offers limited tax credits and deductions for individuals:

  • Personal allowance: The GYD 100,000/month threshold serves as the primary personal allowance
  • NIS contributions: Employee NIS contributions (4.8%) are deductible from taxable income
  • Life insurance premiums: Premiums up to specified limits may be deductible
  • Approved pension contributions: Contributions to approved retirement schemes are deductible
  • Mortgage interest: Interest on loans for owner-occupied housing may be deductible within limits
  • Charitable donations: Donations to registered charities are deductible up to a percentage of income

Tax deductions generally require documented expenses and are subject to annual limits. The GRA provides specific guidelines on allowable deductions.

National Insurance Scheme (NIS) Contributions

Employees and employers in Guyana must contribute to the NIS. The rates for 2026 are:

  • Employee share: 4.8% of gross insurable wages
  • Employer share: 7.2% of gross insurable wages
  • Upper cap: Contributions are capped at approximately GYD 220,000 per month of insurable earnings

Contributions are calculated on gross salary up to the cap. The employer withholds both employee and employer portions and remits them to the NIS. Contributions fund old-age pensions, invalidity benefits, and survivors' benefits. Detailed NIS guide →

Who must file a Guyanese personal tax return?

Individuals with employment income only (where tax was fully withheld at source via PAYE) generally do not need to file. Self-employed individuals, those with multiple income sources, or those earning above certain thresholds must file an annual return by April 30. Non-residents with Guyanese-source income must also file.

Are bonuses and overtime taxed?

Yes, bonuses, commissions, overtime, and additional payments are treated as ordinary employment income and taxed at the flat 28% rate. There is no special treatment for year-end bonuses, 13th-month salaries, or performance incentives. Employers include all cash and non-cash benefits in the monthly PAYE calculation.

Is there a wealth tax or net worth tax in Guyana?

No. Guyana does not impose a wealth tax, net worth tax, or solidarity tax on individuals. Property transfer taxes apply on transactions, and there is an annual property tax based on rental value, but no tax on total net worth. See the wealth tax guide for details. Wealth tax guide →

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