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Guyana: Tax proposals in 2025 budget

Proposals related to income tax, VAT, and excise tax

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January 21, 2025

Guyana’s 2025 budget was presented on January 17, 2025. While no new taxes were introduced, there were proposals related to income tax, value added tax (VAT), and excise tax that would:

  • Reduce the individual (personal) income tax rate from 28% to 25%
  • Increase the income tax threshold to GY $130,000 monthly
  • Remove VAT on agricultural machinery
  • Eliminate of VAT on backup generators
  • Continue the 0% excise tax on petroleum products

Read a January 2025 report prepared by a KPMG member firm in the Caribbean region

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