The individual income tax exemption threshold for residents in Paraguay for 2015 is annual income equal to 84 minimum salaries (~PYG 153 million). Income exceeding that amount but not exceeding 120 minimum salaries is subject to an 8% tax rate. Annual income of 120 minimum salaries or more is subject to a tax rate of 10%.

The minimum salary amount in force at 1 January of each year is used whe…