Update - Guyana Increases Threshold for Higher Individual Income Tax Rate

As previously reported, Guyana recently published the amendment acts, orders, and regulations for the implementation of the budget measures for 2023, including the Income Tax (Amendment) Act 2023, which increased the monthly taxable income threshold (allowance) for individuals from GYD 900,000 to GYD 1,020,000 per year (from GYD 75,000 to GYD 85,000 per month). In addition to this measure, th…
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