Nicaragua Salary Calculator 2020

Calculate your income tax in Nicaragua, salary deductions in Nicaragua and compare salary after tax for income earned in Nicaragua in the 2020 tax year using the Nicaragua salary after tax calculators.

Select a tax calculator from the list below that matches how you get paid or how your salary package is detailed.

How to calculate your salary after tax in Nicaragua

Follow these simple steps to calculate your salary after tax in Nicaragua using the Nicaragua Salary Calculator 2020 which is updated with the 2020/21 tax tables.

  1. Resident Status. The Resident status in Nicaragua here refers to your tax status, not necessarily your visa type or domicile. From a tax calculation perspective, your Tax Resident Status affects non-refundable tax credits and income tax allowances. As with most countries with an international workforce, Nicaragua has numerous tax/fiscal Memorandums of Understanding (MOU) and Tax Treaties in place.
  2. Employment Income. This is the amount of salary you are paid. The Nicaragua tax calculator assumes this is your annual salary before tax. If you wish to enter you monthly salary, weekly or hourly wage, then select the 'Advanced' option on the Nicaragua tax calculator and change the 'Employment Income and Employment Expenses period'.

That's it! Just two simple steps to calculate your salary after tax in Nicaragua with detailed income tax calculations. Need more from the Nicaragua Tax Calculator? More detailed salary calculator or a wage calculator? Simply select 'advanced' to access more features of the tax calculator.

Advanced Features of the Nicaragua Income Tax Calculator

  1. Tax Assessment Year The tax assessment year is defaulted to 2020, you can change the tax year as required to calculate your salary after tax for a specific year.
  2. Your Age You age is used to calculate specific age related tax credits and allowances in Nicaragua.
  3. Number of Children and Number of Children who qualify for Dependents Allowance The number of children you have and their status is used to calculate specific dependents related tax credits and allowances in Nicaragua.
  4. Number of Working Days in the year The number of working days in the year is used to calculate average daily / weekly etc. earning for the salary calculation and after tax illustrations
  5. Number of hours worked per week The number of hours worked in the year is used to calculate average daily / weekly / hourly earnings etc. for the salary calculation and after tax illustrations
  6. Number of weeks worked in the year The number of working weeks in the year is used to calculate average daily / weekly etc. earning for the salary calculation and after tax illustrations
  7. Employment Income and Employment Expenses period The default Employment Income and Expenses period is 'Annual' meaning the amount you entered as your Employment Income in Nicaragua. is your annual salary before tax. You can change this to monthly, weekly, four weekly, hourly salary etc. as required to calculate your net pay in Nicaragua..

Additional features available with the Nicaragua Tax Calculator

In addition to the features and options described above, the Nicaragua Tax Calculator also has the following features:

  1. Select Simple or Advanced. The Simple option is mainly used for those who want to quickly calculate their salary after tax, perhaps to review an annual pay rise or incremental pay rise. The Simple tax calculator is also useful for comparing salaries in Nicaragua, great if you are looking at a new job in Nicaragua or comparing salaries in different industries in Nicaragua. It's a particulalry useful tool for Expats in Nicaragua or those looking at the expat lifestyle in Nicaragua. The Advanced Tax Calculator is designed for those who wish to calculate their tax commitments with more detail, for example you may with you calculate your monthly/quarterly/annual tax withholdings to ensure you retain sufficient revenue to cover the cost of your annual self-assessment tax return.
  2. Normal or Full-Page View. The Normal view allows you to use the Nicaragua Salary Calculator within the normal content, this means you see the standard menus, text and information around the calculator. This view is better suited to those who are doing a quick salary comparison or quickly estimating their monthly tax withholdings in Nicaragua. The Full Page view hides the menus and unnecessary text, providing a clear, uncluttered view of the Salary and Tax Calculator, this is the best view for competing more advanced tax calculations as there is less distraction whilst entering key income and expense information.