Ghana Tax

Over the past year a major policy direction of the government has been enhancing domestic tax revenue mobilisation while promoting business growth. Accordingly, the 2018 budget statement and economic policy highlighted a number of tax policy proposals, which are focused mainly on promoting tax revenue generation and incentivising businesses in...

New income tax legislation known as the Income Tax Act, 2015 (Act 896) went into effect on January 1, 2016. The tax law covers operations in all industries, including petroleum, minerals and mining, and financial services, among others. The new income tax law also seeks to widen the country’s tax base and consolidate the various income tax...

Ghana’s parliament has enacted new income tax legislation with an effective date of September 1, 2015. The new legislation, the Income Tax Act, 2015 (Act 896), replaces the Internal Revenue Act, 2000 (Act 592) as the primary legislation on income tax in Ghana. The act also covers taxation of operations in industries such as petroleum, minerals...

The main forms of business organisation in Ghana are private and public limited liability companies, branches of foreign companies, partnerships, sole traders, companies limited by guarantee and unlimited liability companies.

Small and medium-sized enterprises (SMEs) pervade the business world. In virtually every jurisdiction ( including Ghana), from the largest economies down to the smallest, over 99% of companies have fewer than 50 employees. In most jurisdictions the law requires SMEs to prepare and publish financial statements and have them audited. The global trend in the past decade has...

FORMS OF BUSINESS ORGANISATION: The main forms of business organisation in Ghana are as follows: private and public limited liability companies, branches of foreign companies, partnerships, sole traders, companies limited by guarantee and unlimited liability companies.