In an effort to put more money in the pockets of Guyanese, Minister of Finance Dr Ashni Singh announced on Monday that the monthly Income Tax threshold will rise to $140,000 for 2026.
Dr Singh said the increase follows the government’s previous doubling of the threshold from $65,000 in 2020 to $130,000 in 2025, a change that delivered about $18 billion in extra disposable income and removed roughly 60,000 people from the tax net. He said the new increase to $140,000 will take another 5,000 people out of the tax net and add more than $2 billion in disposable income for workers.
According to the finance minister, the measure is part of a wider tax-relief package that will provide over $100 billion to citizens, excluding the effect of removing the Excise tax on fuel. He said these measures are aimed at stimulating economic activity, supporting job creation and strengthening household purchasing power.