Tag Archives: school children grants

GUYANA: Budget 2022: Income tax threshold increases, higher pensions, school children grants, etc.

BUDGET DEBATE 2022 – 26 January 2022

Guyanese who earn G$75,000 (app US$350) per month or less will no longer have to pay income tax.  Note: Guyana’s Exchange rate is now approximately $210 per USA Dollar. Divide Guyana dollars quoted by 210 to get US dollar amount.

Finance Minister Dr Ashni Singh made the announcement in his 2022 National Budget speech. “In this regard, we are proposing to increase the monthly income tax threshold from G$65,000 to G$75,000 monthly, thereby releasing a total of G$1.3 billion into the hands of current taxpayers both in the public and private sectors,” he said.

He says that in 2021 the increased revenue from personal income tax of G$8.2 billion was driven by higher remittances by employers in both the public and private sectors.

TOTAL BUDGET U$ 2.6Billion            Continue reading

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