Ghana Tax

Chapter | Tax from The Report: Ghana 2020

This chapter examines the tax system of Ghana, including value-added tax, double taxation treaties, tax incentives, tax residency, deductions, import duties and tax administration. This chapter also contains a viewpoint from Vish Ashiagbor, Country Senior Partner, PwC Ghana.

The government of President Nana Akufo-Addo assumed power on a promise to take “Ghana Beyond Aid”, and is pushing ahead with initiatives to formalise the economy, diversify its manufacturing base and overhaul its taxation structure. Ghana’s ability to retain fiscal discipline will be tested, with election-related expenditure expected to increase in the run-up to the 2020 poll.

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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...

 

The Ghana Revenue Authority (GRA) is the government body mandated to collect and assess taxes. It enforces the provisions of the tax acts and serves as the first arbiter between parties in the event of a dispute. The Ministry of Finance and Economic Planning is responsible for overseeing the GRA.

The government of President Nana Akufo-Addo assumed power on a promise to take “Ghana Beyond Aid”, and is pushing ahead with initiatives to formalise the economy, diversify its manufacturing base and overhaul its taxation structure. Ghana’s ability to retain fiscal discipline will be tested, with election-related expenditure expected to increase in the run-up to the 2020 poll.

 

Tax compliance is central to the government’s agenda in 2019. The minister of finance indicated in the 2019 budget that the government would focus its revenue mobilisation efforts on reforming revenue institutions, intensifying compliance measures and broadening the tax net. However, we must work towards ensuring that compliance is less...

 

The tax system underwent several significant changes in 2018, and the government budget for 2019 seeks to consolidate and make additions to those changes, with its agenda focused on compliance. The key updates to the tax codes in 2019 will be as follows: