30% Income Tax Rate Applied to Aggregate Income
During the FY2016/17 Budget presentation, the Hon. Audley Shaw, Minister of Finance and the Public Service, announced that the Income tax threshold would be increased from $592,800 to $1,000,272.00. This in effect means that all pensioners, P.A.Y.E. self-employed and other individuals would benefit from the increase which takes effect July 1, 2016, with a further increase to $1,500,096 on April 1, 2017. In...