Other Regional Capitals outside the Northern Savannah Ecological Zone
15%
Outside other Regional Capitals
10%
The Northern Savannah Ecological Zone
5%
Young Entrepreneurs Exemption (≤ 35 years)
Income Tax▾
Location (Post-Exemption — for 5 years)
Rate
Initial exemption period (all locations)
Exempt for 5 years
Accra and Tema
15%
Other Regional Capitals outside the three Northern Regions
12.5%
Outside other Regional Capitals
10%
The three Northern Regions
5%
Qualifying sectors: Manufacturing, ICT, agro-processing, energy production, waste processing, tourism & creative arts, horticulture, and medicinal plants. Requires approval from the Commissioner-General of the GRA.
Additional Deduction for Fresh Graduates
Income Tax▾
Fresh Graduates in Workforce
% of Salaries Deductible
Up to 1%
10%
Above 1% but not more than 5%
30%
Above 5%
50%
Automobile Manufacturer/Assembler Exemption
Income Tax▾
Category
Concessionary Period
Manufacturers or assemblers of semi-knocked down (SKD) vehicles
3 years from date of commencement
Manufacturers of complete-knocked down (CKD) vehicles
10 years from date of commencement
Under the Ghana Automotive Manufacturing Development Programme. A manufacturer who starts with SKD and converts to CKD is entitled to an aggregate concessionary period of 10 years.
WHT — Dividend, Interest & Rent (Resident)
WHT▾
Category
Rate
Final?
Dividend
8%
Yes
Interest (excl. individuals & resident FIs)
8%
No
Rent on residential properties (investment income)
8%
Yes
Rent on commercial properties (investment income)
15%
Yes
WHT — Goods, Works & Services (Resident)
WHT▾
Category
Rate
Final?
Goods
3%
No
Works
5%
No
Services
7.5%
No
Subject to an annual cumulative GHS 2,000 threshold.
WHT — Fees, Commissions & Other (Resident)
WHT▾
Category
Rate
Final?
Fees for examiners, invigilators, supervisors, part-time teaching/lecturing
10%
Yes
Fees/allowances to resident director, manager, trustee or board member
20%
No
Endorsement Fees to Individuals
10%
Yes
Commission to insurance, sales, canvassing & lotto agents
10%
No
Consideration on realisation of an asset or liability
A Qualifying Junior Employee (QJE) is a junior staff member earning ≤ GHS 18,000 per annum. QJE overtime tax is a final tax. For non-QJEs, overtime is added to employment income and taxed at the applicable PAYE rate.
Bonus Tax Treatment
Employment▾
Criteria
Rate
Bonus up to 15% of annual basic salary
5%
Excess above 15% of annual basic salary
Added to employment income; taxed at applicable rate
Loan Benefits-in-Kind
Employment▾
Qualifying Conditions
Tax Treatment
Loan from employer to employee, loan tenor ≤ 12 months, aggregate outstanding at any time in the previous 12 months does not exceed 3 months' basic salary
No benefit assessed on the employee
Any other case (conditions not met)
Benefit = ¼ × (Interest imputed at BoG rate − Interest paid by employee during the year)
Mortgage Interest Deduction
Employment▾
Rule
Detail
Deductible amount
Mortgage interest incurred during the year
Limitation
One residential premises only, during the lifetime of the individual
Effect
Deducted in arriving at the individual's chargeable income
Capital Allowance Classes
Corporate▾
Class
Assets
Rate / Method
Class 1
Computers & data handling equipment with peripherals
Locomotives, water transport, aircraft, office furniture & fixtures, other equipment
20% Reducing Balance
Class 4
Buildings, structures & works of permanent nature
10% Straight Line
Class 5
Intangible Assets
Useful Life
Notes: Classes 1–3 are depreciated on a reducing balance basis. Classes 4–5 are depreciated on a straight line basis. The cost of a road vehicle (other than a commercial vehicle) shall not exceed GHS 75,000. Importers/manufacturers of excisable goods are granted accelerated depreciation over 2 years (50% per year) on affixing machinery imported for implementing Excise Tax Stamp Policy. Capital allowances must be utilised in the year granted.
Other Corporate Provisions
Corporate▾
Provision
Detail
Unrelieved Losses — Carry forward
5 years
Repairs & Improvements — Deduction cap
5% of year-end WDV of asset pool
Excess disallowed repairs expenditure
Capitalised in same pool; granted capital allowance
Financial Cost Limitation — Excess carry forward
5 years
Foreign Exchange Loss Deductibility
Corporate▾
Rule
Detail
Non-deductible if:
Losses are of a capital nature
Not deductible
Losses are unrealised
Not deductible
Losses on transactions between two resident persons
Not deductible
Capital nature FX losses
May be capitalised; capital allowance granted
Applies to FX losses incurred on debt claims, debt obligations, or foreign currency holdings by taxpayers in the production of income.
Mineral Royalty Rates — Gold
Mining▾
Gold Price (US$/Ounce)
Royalty Rate
Up to US$1,900
5.0%
Above US$1,900 – US$2,000
6.0%
Above US$2,000 – US$2,500
7.0%
Above US$2,500 – US$3,000
8.0%
Above US$3,000 – US$3,500
9.0%
Above US$3,500 – US$4,000
10.0%
Above US$4,000 – US$4,500
11.0%
Above US$4,500
12.0%
Based on the weekly average London PM Fix Price (LBMA) in US$ per fine troy ounce.
Mineral Royalty Rates — Lithium (Spodumene)
Mining▾
Spodumene Price (US$/Tonne)
Royalty Rate
Up to US$1,500
5%
US$1,501 – US$2,500
7%
US$2,501 – US$3,000
10%
Above US$3,000
12%
Market value determined on an arm's-length basis, having regard to prevailing international market prices.
Mineral Royalty Rates — Other Minerals
Mining▾
Mineral
Royalty Rate
Diamond
5.0%
Bauxite
5.0%
Manganese
5.0%
Salt
5.0%
Industrial Mineral
5.0%
Limestone
5.0%
Iron Ore
5.0%
CIT & GSL Instalment Payment Schedule
Compliance▾
Instalment
Due Date
1st Instalment
By end of 3rd month of accounting year
2nd Instalment
By end of 6th month of accounting year
3rd Instalment
By end of 9th month of accounting year
4th Instalment (to meet 90% threshold)
By last working day of accounting year
Top-up (balance of any remaining tax)
By 4th month following end of accounting year
Income Tax Compliance Dates
Compliance▾
Obligation
Due Date
Monthly Withholding Tax Return
15th of the subsequent month
Monthly Employer PAYE Return
15th of the subsequent month
Employer's Annual Tax Deduction Schedule
4 months after end of calendar year
Annual Personal Income Tax Return
4 months after end of calendar year
Quarterly Company Income Tax Self Assessment
Before the 3rd, 6th, 9th & 12th month after start of accounting year
Annual Company Income Tax Return
4 months after end of accounting year
Tax Return on Realisation of Assets & Liabilities
30 days after realisation
VAT & Other Indirect Tax Compliance Dates
Compliance▾
Obligation
Due Date
Value Added Tax
Last working day of the next month
Withholding VAT
15th of the next month
VAT & Levies on Imported Services
21st of the next month
Communications Service Tax
Last working day of the next month
Excise Duty Return
21st of the next month
Selected Tax Administration Sanctions
Compliance▾
Sanction
Detail
Interest for Late Payment of Tax
125% of BoG Monetary Policy Rate, compounded monthly
Penalty for Late Filing of Return
GHS 500 + GHS 10 per additional day
Penalty for Late Filing (CST)
GHS 2,000 + GHS 500 per additional day
Several other penalties apply for non-compliance of different tax laws.
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