Notice to Employers, Employees & Self-Employed Persons | REVISED PERSONAL ALLOWANCE AND DEDUCTIONS FOR INCOME TAX 2026

Effective January 1, 2026 , the Income Tax (Amendment) Act No. 3 of 2026 amends the personal income tax allowance and increases the chargeable income ceiling for employed and self-employed individuals. Hereunder are the key updates: CHARGEABLE INCOME Section 20 (a) of the Income Tax Act, Chapter 81:01 has been amended to increase the annual Personal Deduction to one million, six hundred and eighty…