Guatemala Tax Tables 2024 - Tax Rates and Thresholds in Guatemala

This page contains the tax table information used for the calculation of tax and payroll deductions in Guatemala in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ GT, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Guatemala or would like to add to or suggest amendments to the information herein then please contact us.

Guatemala Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Guatemala are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Guatemala Tax Calculator 2024.

In Guatemala, social security deductions made by employees from their gross salaries are considered deductible for the purpose of calculating taxable income. This means that the contributions towards social security are subtracted from the gross income before determining the amount of income tax owed by an individual. This practice reduces the taxable income base, potentially lowering the overall income tax liability for employees, thereby integrating the social security contributions into the broader fiscal framework of individual financial obligations.

Guatemala Social Security and Payroll Deduction Rates in 2024

In Guatemala, the social security system is designed to provide a range of benefits to employees, funded through deductions from both employees' salaries and employers' contributions. This comprehensive system covers healthcare, pension benefits, and risks related to workplace injuries, ensuring a safety net for the workforce and their families.

The key components of social security in Guatemala include:

• Healthcare Services: Contributions fund access to medical care, hospital services, and pharmaceuticals for employees and their dependents, aiming to ensure the health and well-being of the workforce.
• Pension Scheme: These deductions are allocated to retirement funds, providing financial stability for employees in their later years.
• Workplace Injury and Occupational Risks: This aspect of social security offers protection and benefits to employees who suffer work-related accidents or illnesses, covering medical treatment and compensation for lost income during recovery periods.

Employers in Guatemala are required to contribute a larger share towards social security compared to the deductions made from employees' salaries. This system reflects the country's commitment to social welfare, aiming to provide comprehensive coverage and support to its working population. The collaboration between employees, employers, and the government in funding and managing these social security benefits is crucial for maintaining a resilient and healthy workforce.

Guatemala VAT Rates in 2024

VAT rates for Guatemala are reviewed annually, you can use the VAT Calculator to calculate VAT due in Guatemala or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Guatemala

The following tax tables are supported by iCalculator™ GT as part of the suite of free tax tools we provide for Guatemala.