Ghana: Living There - Tax Issues
Country Rating » 
In Depth
- Overview
- Rental Yields
- Taxes and Costs
- Tax on Rent (Example)
- Buying Guide
- Landlord and Tenant
- Inheritance
- Living There
- Country Statistics
Directory
Global Statistics
Regional Statistics
- Sq. M. Prices
- Rental Yields
- Rents
- Price/Rent Ratio
- Buy/Sell Costs
- Rental Income Tax
- Capital Gains Tax
- Landlord & Tenant Law
- GDP Per Capita
- GDP/Cap Growth 1 yr
- GDP/Cap Growth 5 yrs
- Economic Freedom
- Ec. Freedom 5 yrs
- Property Rights Index
- Currency +/- Value
Last Updated: Nov 15, 2006
Living There
Residents are taxed on worldwide income. Individuals are considered residents of Ghana if they reside in the country for an aggregate of 183 days within a year of assessment. Married couples are assessed separately.
Income Tax
Residents are taxed at the following progressive rates:
INCOME TAX |
|
| TAXABLE INCOME, GHC (US$) | MARGINAL TAX RATE |
| Up to 2,400,000 (US$251) | nil |
| 2,400,001 - 4,800,000 (US$502) | 5% on band over US$251 |
| 4,800,001 – 16,800,000 (US$1,758) | 10% on band over US$502 |
| 1,680,001 – 96,000,000 (US$10,046) | 17.5% on band over US$1,758 |
| Over 96,000,000 (US$10,046) | 25% on all income over US$10,046 |
| Source: Global Property Guide | |
The following personal reliefs are granted to residents.
- US$31 for an individual with a dependent spouse or an unmarried person with at least two dependant children
- 25% of gross income for a disabled taxpayer
- Lesser of US$31 or total income is exempt for taxpayers aged 60 or older
- Child allowance of US$25 per child; up to three dependent children
- Dependent allowance of US$21 each; up to two aged dependents (over 60 years)
- Maximum of US$52 for professional, technical or vocational training costs
Rental Income
Gross rental income earned by residents is subject to final withholding tax at 10%.
Ghana - more data and information
Post a comment
Subscribe to our Newsletter!
Enter your email address to sign up.
Your Comments
Be the first to comment!