Ghana Tax

Chapter | Tax from The Report: Ghana 2022

In conjunction with PwC, this chapter explores the taxation system and Ghana’s efforts to build an investor-friendly environment. It also contains an interview with Vish Ashiagbor, Country Senior Partner, PwC Ghana.

As Africa’s largest gold miner and the world’s second-largest cocoa producer, Ghana has witnessed steady growth in recent years. While the country was impacted by the Covid-19 pandemic, it navigated the crisis better than many of its income-level peers, in large part thanks to measures aimed at boosting public revenue. Ghana aims to improve its fiscal deficit in 2022 to 7.4% of GDP.

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The value-added tax (VAT) regime in Ghana can be complicated, as it blends both the features of a traditional sales tax, which lacks the ability to claim credit for some aspects of the tax incurred by a business – and a pure VAT, where claims are permitted for input taxes incurred. The tax was first introduced in 1995, and meant to replace...

 

The National Identity Card has been a positive development for the country. It started in 2017, and we have seen significant progress in card registration in recent years. It is becoming an important identification card both for Ghana and the ECOWAS subregion. The card, which is issued by the National Identification Authority, is generally...

 

The Ghana Revenue Authority (GRA) is the agency mandated to assess and collect taxes in the country. It enforces tax-related legislation, and acts as an arbitrator in the event of a dispute. It falls under the umbrella of the Ministry of Finance and Economic Planning.

As Africa’s largest gold miner and the world’s second-largest cocoa producer, Ghana has witnessed steady growth in recent years. While the country was impacted by the Covid-19 pandemic, it navigated the crisis better than many of its income-level peers, in large part thanks to measures aimed at boosting public revenue. Ghana aims to improve its fiscal deficit in 2022 to 7.4% of GDP.

 

After more than half a century Ghana passed the Companies Act, 2019 (Act 992), which replaces the Companies Act, 1963 (Act 179). The new act aims to amend and consolidate the law relating to companies, and provide for related matters, among other things. It was preceded by a number of taxation law reforms: the Value-Added Tax Law revision in...

 

The topic of VAT has dominated the discussion of taxation in recent years, with the most notable conversations occurring in the Gulf. Like the Gulf countries, many territories have their own story of implementing the tax. This analysis outlines the VAT story in Ghana, highlights how the tax has changed over the years and explains the situation...

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