Tax act, 2015, act 896 as amended has been revised as follows. S3315 s3515 h32015 2 90th general assembly a bill 3 regular session, 2015 senate bill 490 4 5 by. Ghana revenue authority act, 2009 act 791 tax guide. Act of the parliament of the republic of ghana entitled alternative dispute resolution act, 2010 an act to provide for the settlement of disputes by arbitration, mediation and customary arbitration, to establish an alternative dispute resolution centre and to provide for related matters. The government of ghana introduced the income tax act, 2015 act 896, to provide. The income tax bill, 20, which was passed by ghana s parliament on 24 july 2015, was assented to by the president on 1 september 2015. The fourth and last field on the lower right shows a gold mine, which stands for the richness of natural resources in ghana. Imposition of income tax part ii income tax base division i. The income tax act, 2015 act 896 has been amended to revise the rates.
The act consolidates existing income tax laws into a simpler and user friendly form. Upon the shield there are beads with the national colors red, green, and gold, which the flag of ghana also bears. Lga local government act act 462 of 1993, or generic lg local government lgprsp local governance and poverty reduction support programme lgsa local government service act 2003 act 656 li legislative instrument mlgrde ministry of local government, and rural development and environment nalag national association of local authorities of ghana. The third part of the shield shows a cacao tree, which embodies the wealth of ghana. What you need to know about ghanas new tax law, income tax act. The workshop brought to the fore the consolidation and update of all. Complying with the data protection act, 2012 act 843. An update on ghanas tax environment and total payroll. The principal enactment is amended by the substitution for section 16 of. Revenue authority or failed to file their tax returns or pay taxes as. Act, of the parliament of the repulic of ghana entitled i presidential transition ac, 201,2 an act to establish arrangements for the political transfer of administration fromonedemocratically elected. Income tax act 2015act 896 ghana revenue authority. Minerals and mining act natural resource governance institute. Final income tax act, 2015 gnbcc ghana netherlands.
The act was numbered 896 and published in the official gazette on 1 september 2015. Ghana signed on to the initiative in london on 17th june 2003. It is the employers responsibility to file monthly tax returns on behalf of. Data on ghana introduction in addition to the data below, the links at the bottom of this page will provide you with more information. The government of ghana in its 2018 budget statement and. Part i imposition of income tax imposition of income tax 1. Tax administration in ghana this is all about the machinery put in place to determine, monitor and. National health insurance act, 2012 act 852 2 where there is a hindrance to the acquisition of property, the property may be acquired for the authority under the state property and contracts act, 1960 c. Ghana tax legislation updated to reflect new realities.
Banks and special deposit act, 2016 date of assent. This came into force on 14 september 2016 to repeal the banking. International journal of construction supply chain management vol. Publisher, author, parliament of ghana parliament of ghana. Income tax act, 2015 1 act 896 part i imposition of income tax 1. Income tax act, 2015 8 act 896 act of the parliament of the republic of ghana entitled income tax act, 2015 an act to provide for the imposition of income tax and for related purposes. New tax law, act 896 the finance office of the college also organized a workshop on the new tax law between 18th thand 19 january, 2016 at ugbs graduate building to expose all accountants and accounting assistants within the college to ghana income tax, act 896.
National communications authority act 769 act, 2008. No person shall discriminate against a child on the grounds of gender, race, age, religion, disability, health status, custom, ethnic origin, rural or urban background, birth or other status, socioeconomic status or because the child is a refugee. Revenue administration bill, 2016 local governance bill, 2016. Manufacturing business located in the regional capitals of ghana. Search of place entered by person sought to be arrested. Gra practice notes to income tax act, 2015 act 896. Businesses operating under tax concessions in ghana will pay corporate tax at the minimum rate of 1% under act 896, rather than enjoying the full tax holiday, as was the case under the old law, and this includes businesses engaged in agroprocessing, cocoa byproduct manufacturers, rural banks, wasteprocessing businesses and providers of. Objectives of income tax act, 2015act 896 institute of chartered. The new patriotic party npp won a majority over the national democratic congress ndc in the presidential and parliamentary elections in december 2016, in which. Provide for new rates of tax on the chargeable income of resident individuals for a year of assessment introduce the withholding tax rate applicable to fees payable to an individual. Ghana health service and teaching hospitalsvact, 1996 4. Income tax act 2015 act 896 aitc international tax. Local government act 1993 act 462 c the member or members of parliament from the constituencies that fall within the area of authority of the district assembly, except that that member or those members shall not have a voting right, and d any other personsnot exceeding thirty percent of the total membership of the. Income tax act, 2015 act 896 this document is part of the source library for nrgis 2017 resource governance index, a comprehensive measure of the quality of natural resource governance in 81 oil, gas and mineralrich countries.
Ghana local government act 1993 a comparative analysis in the. Analyze the disbursements to the ghana national petroleum corporation gnpc, annual budget funding amount and the ghana petroleum funds. Section 31 of the income tax act, 2015 act 896 ita transfer. Republic of ghana in africa, ghana ranks 24th by size out of 54 countries, 14th by population and th by population density. Act 769 national communications authority act, 2008 4 4 where there is hindrance to the acquisition of property, the property may be acquired for the authority under the state property and contracts act 1960 c. Management the management of stool lands shall be exercised in accordance with article 267 of the constitution and where there is a conflict between a provision of this act and a. Accordingly this practice note is issued in respect of capital allowance for depreciable assets under section 14 of the act and calculated in accordance with provisions specified in the third schedule. An inception report was presented to the steering committee at the end of the preliminary studies. The income tax act 2015, act 896 the act came into force on 1st january. The tax proposals made by the government of ghana in the 2019. Act 663, company, ghana, goods, public procurement act 2003.
Acts of ghana first republic criminal procedure code, 1960 act 30 arrangement of sections section part igeneral provisions procedure 1. Income tax act, 2015 act 896 datasets resourcedata. Amendments to the income tax act, 2015 act 896 the commissionergeneral of the ghana revenue authority gra wishes to inform the general public that the following amendments have been made to the income tax act, 2015 act 896 by the income tax amendment act, 2019 act 1007. Criminal code, 1960 act 29 consolidated up to 1999. Our functions implement and monitor compliance with act 843. Revenue administration bill, 2016 local governance bill. Arrangement of sections section part i preliminary 1. Sec 3 investigate and determine complaints under the act. Administration of lands act, 19621 an act to consolidate with amendments the enactments relating to the administration of stool and other lands. For the purposes of taxation, how is an individual defined as a resident of ghana. The income tax act, 2015 act 896 comes into effect on 1st january 2016 to. Despite the binding nature of the ruling by the cg, a taxpayer can challenge same in court 23032016 presented by edward a. Energy laws and regulations ghana laws and regulations gli.
The implementation challenges to the ublic procurement p law 2003 act 663. Ascertain if the disbursements made by the government are in accordance with the provisions of the petroleum revenue management act 2011. Even though this move will enhance tax administration by ghana revenue authority, it also brought along a number of changes that. Ghana stabilisation fund for the purpose of alleviating a shortfall in actual petroleum revenue shall not exceed 75% of the balance standing to the credit of the ghana stabilisation fund at the beginning of the financial year. Ghana political rivalry threatens fiscal sustainability political system ghana has a multiparty system and unicameral parliament.
Apr 04, 2019 the banks and specialised deposittaking institutions act 2016, act 930, is the primary statute governing banking industry in ghana. O n january 1, 2016, the much awaited income tax act 2015 act 896 which seeks to consolidate income tax laws and regulations which relate to financial institutions, insurance, mining, and petroleum came into force. Establishment of the university establishment of the university of ghana 1. Act 896 makes provisions for amendment and revocation of practice notes and private rulings. For news about ghana, see accraexpats how to guide page how to keep posted with ghana news official name. Passed by parliament and assented to by the president. Act of the parliament of the republic of ghana entitled the public procurement act, 2003 an act to provide for public procurement, to establish the public procurement authority, make administrative and institutional arrangements for procurement, stipulate tendering procedures and provide for related date of assent. Ownership of minerals and cadastral system minerals property of republic 1. Revenue administration bill, 2016 authorisation and protection of tax officers 2.
Construction of references in other acts to companies registered under the companies consolidation act, 1908. An instalment taxpayer shall file estimated tax payable by the date of first. A survey of income tax, social security tax rates and tax legislation impacting. Section 2 of the act deals with amnesty for penalties and interest up to 2017 where the person submits returns or amended returns, containing full disclosure of all previously undisclosed liabilities up. The parliament of ghana enacted the following laws during december. Chieftaincy act, 2008 act 759 food and agriculture. Banks and special deposit act, 2016 act 930 date of assent. Energy laws and regulations ghana laws and regulations. Occupational and personal pensions scheme general regulations 2011, l. Income tax act,2015 act 896 is part of the process of the reorganization of the tax laws after the integration of revenue agencies.
Public lecture institute of chartered accountants of ghana. The childrens act, 1998 act 560 nondiscrimination 3. President, toanother democratically elected president, to provide fof. Revenue administration act, 2016 act 915 preamble an act to provide for the administration and collection of revenue by the ghana revenue authority and for related matters. Are the rgi questions here tagged with law andor practice, law. Minerals and mining act natural resource governance. The ministry of energy is the sector ministry with responsibility for policy formulation, implementation, monitoring and evaluation.
Is the last of the tax laws which deal with the charging provisions. Act of the parliament of the rpublic of ghana entitled the minerals and mining act, 2006 an act to revise and consolidate the law relating to minerals and mining and to provide for connected purposes. The internal revenue act, act 896 relevant web sites. The banks and specialised deposittaking institutions act 2016, act 930, is the primary statute governing banking industry in ghana. Act 759 tile seven hundred and flfryninih act of the parliament of the republic of ghana entitled chieftaincy act, 2008 anact to revise and consolidate the chieftaincy act, 1971act 370 to bring its provisions in conformity with the constitution and to provide for related matters. The ghana revenue authority gra has outdoored a new tax law, income tax act 2015 act 896 in accra. Knowledge and understanding of board of trustees 37. An update on ghanas tax environment and total payroll management in light of the 2016 key tax changes and the new governments intention to be very vigilant and deliberate about revenue enhancement, join us for a thought provoking and insightful analysis on taxes with the view to minimise the risk of non compliance.
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