Any income which is immediately derived from a trade, business, profession or vocation either as an individual, or, in the case of a partnership, or any income arising from any gains or profits including any allowance, from any employment held by an individual will be deemed as Income earned.
Therefore, Income Tax will be applicable and payable at the rate or rates specified for each year for which an assessment will be made on the income earned, whether same was accrued in or derived from Guyana or elsewhere, and whether received in Guyana or not.
