With effect from January 1, 2019, no deduction of Income Tax under the P.A.Y.E. System should be made from the remuneration of employees whose gross income per month is Sixty-Five Thousand Dollars ($65,000.00) or less.

In arriving at the chargeable income of every individual taxpayer, a deduction based on the Table set out below should be made from the gross income for the relevant pay period.

Table: Threshold as per pay period

Daily Weekly Fortnightly Monthly Yearly
$2,137 $15,000 $30,000 $65,000.00 $780,000

When the gross income exceeds the threshold of the pay period as provided in the above table, the remainder of the chargeable income is taxed at 28%

Employers should note that every employee is now entitled to a statutory allowance (income free of tax) of $780,000 per annum.