The Ghana Revenue Authority (GRA) has announced that workers earning a monthly income of Ghc365 and below or an annual salary of Ghc4,380 will be taxed at 0%.
This decision is due to the amendment of the income tax, (Amendment No. 2; Act 1071) 2021.
The GRA made the announcement through their twitter handle. “We are happy to inform you that… any employee (worker) who receives Ghc365 and below… is taxed at 0%”.
We are happy to inform you that, with the amendment (no. 2) of the Income Tax Act, 2021 (Act 1071), any employee (worker) who receives Ghc365 and below as monthly salary or Ghc 4,380.00 as annual salary is taxed at 0%!!! https://t.co/D6zEQnHWIe https://t.co/a6Fkpxh9rk #TeamGhana pic.twitter.com/1ZJI5Qkjpu— GRA (@GhanaRevenue) January 10, 2022
According to GRA, the Act is “to amend the Income Tax Act, 2015 (Act 896) to review the rates of income tax for individuals; to reduce the withholding tax rate for sale of unprocessed gold by small scale miners; to increase the threshold for an individual to whom the presumptive tax under the Modified Taxation Scheme applies; to extend the Covid-19 concessions granted in 2021 for further six months in 2022 and to provide for related matters.”
The parliament of Ghana passed the Act which was assented by the President of the Republic on December 30, 2021.
Income Tax Amendment (No. 2) Act 2021 (Act 1071)