Guatemala Income Tax Calculator

Overview of Guatemala Salary Calculator

Guatemala imposes individual income tax rates from 5% to 7%.

Effortlessly calculate your income taxes and relevant social security contributions using our Guatemala salary calculator.

Calculate Your Guatemala Salary After Taxes

To use the Guatemala income tax calculator, simply input your gross income and income type to begin.

Guatemala Tax Calc – 2

Your Income Taxes Breakdown


Full Breakdown


Notice: This calculator currently computes Personal Income Tax (PIT). Integration of Social Security contributions is in progress and will be available soon.

Convert Your Salary To GTQ

TaxAssist+ from The Next Gen Business is a tax calculation tool, tailored to use each country’s local currency for precision and simplicity.

To fully utilize this feature, please convert your native currency into GTQ, ensuring accurate and efficient tax computations.

📌 What Is the Average Salary in Guatemala?

Guatemala, paying an average salary of $476.89, relies on agriculture and textiles, with efforts to enhance economic development and reduce poverty.

Guatemala’s focus on improving its business environment and developing sectors like manufacturing and tourism offers new opportunities for investment and growth.

📌 What Is the Minimum Wage in Guatemala?

Guatemala’s minimum wage varies between Q 81.87 (US$10.9) per day for agricultural and nonagricultural work to Q 74.89 (US$10) per day for export-sector regime factories. This variable wage structure reflects the country’s diverse economic sectors and the government’s efforts to tailor wages to different industries. Guatemala’s approach aims to ensure fair compensation across various sectors, supporting steady economic growth and job prospects.

📌 What Are The Types of Taxes in Guatemala?

Guatemala imposes individual income tax rates from 5% to 7%.

Corporate entities are subject to a 25% tax rate.

No VAT or similar sales tax is applied.

References

➤ View References

PricewaterhouseCoopers: taxsummaries.pwc.com

Trading Economics: tradingeconomics.com/country-list/social-security-rate

KPMG: kpmg.com/sg/en/home/services/tax/tax-tools-and-resources.html

OECD.Stat: stats.oecd.org/index.aspx?DataSetCode=TABLE_I5

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TaxAssist+ by The Next Gen Business: Advanced Income Tax and Contribution Calculations for the 2024/25 Tax Year

TaxAssist+ streamlines the complexity of income tax calculations by accurately considering not only your gross income and the nature of your income (e.g., self-employed, traditional employment), but also essential deductions and contributions. This tool is designed to provide a comprehensive assessment of your tax obligations, including income taxes and social security contributions.

Step-by-Step Calculation Process:

  1. Computing Gross Income and Adjustments: We start by calculating your gross income, taking into account the type of income you earn. This is crucial in determining the subsequent steps and applicable rules in the calculation process.
  2. Determining Taxable Income: After identifying the gross income, TaxAssist+ calculates your taxable income. This involves adjusting your gross income with allowable deductions, considering factors unique to your income type. This step is pivotal in ensuring an accurate basis for tax calculation.
  3. Incorporating Income Taxes and Social Security Contributions: Our sophisticated algorithm then calculates your income tax liabilities and social security contributions, if applicable. This integration is a key differentiator, as it provides a more comprehensive overview of your total tax obligations.

TaxAssist+ ensures a thorough and accurate estimated tax calculation, providing you with clear insights into your financial obligations and aiding in effective financial planning.

Update Schedule: TaxAssist+ continuously monitors for amendments to tax rates and regulations, ensuring that our calculators remains current for the current tax year.

Customer Support: For any comments or inquiries, we encourage you to reach out directly to our support team via our contact page.

Step 1

Our international research professionals meticulously compile and scrutinize the latest tax laws and regulations to ensure foundational accuracy.
Antonio Garcia
Macroeconomics Research Expert

Step 2

A dedicated team of independent fact-checkers rigorously reviews and authenticates the compiled data for integrity and compliance.
Fact-checked
By independent fact-checkers

Step 3

Our tech team then integrates these verified updates into the TaxAssist+ calculators, ensuring they reflect the most current tax rates.
Liam Hollis
Product & IT Lead at TNGB Research

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