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Income Tax Act, 2015 (Act 896)
ActGhana Source: GhaLII / Ghana Revenue Authority
TaxIncome TaxBusiness TaxGRA
Summary (Plain English)
Main income tax law in Ghana. Imposes tax on income from employment, business, and investment. Corporate tax rate: 25% (standard), reduced rates for specific sectors. Individual rates: progressive from 0% to 30%. Requires all taxpayers to register for a Taxpayer Identification Number (TIN) with GRA. Withholding tax applies to payments to contractors, rent, dividends. Monthly PAYE returns required for employers.
What This Means For You
- • All businesses must register for TIN with GRA
- • Corporate tax rate is 25% (standard)
- • Individual income tax is progressive up to 30%
- • Employers must deduct and remit PAYE monthly
- • Quarterly installment payments required for self-employed
Original Source
https://ghalii.org/legislation/act/2015/896Content sourced from GhaLII / Ghana Revenue Authority. Always refer to the official document for authoritative text.
Not legal advice. This summary is for informational purposes only. ONIM does not store or republish full legal texts. Always consult a qualified legal professional for advice specific to your situation.