The Government has announced that the income tax threshold is set to be increased from $130,000 to $140,000 per month with effect from the 2026 year of income, as part of its continued efforts to put more money into the hands of workers.
Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, made the announcement during the presentation of the 2026 National Budget to the National Assembly on Monday.
Dr Singh said that by the end of the last term, Government had already doubled the income tax threshold from $65,000 in 2020 to $130,000 in 2025, resulting in $18 billion in additional disposable income for workers and the removal of 60,000 persons from the tax net.
The new increase to $140,000 will remove a further 5,000 persons from the tax net and add more than $2 billion in disposable income to workers.
Dr Singh said that, together with other fiscal measures announced in the budget, the Government will provide over $100 billion in direct financial support to citizens in 2026, excluding the impact of the removal of the excise tax on fuel.
He emphasised that the package is designed to stimulate economic activity, support job creation and significantly improve household incomes across Guyana.
