Salaries of Ghc365 will not be taxed-GRA
The Ghana Revenue Authority (GRA) has disclosed that Ghanaians with income of Ghc365 would not be taxed.
The GRA explained that the initiative comes after the amendment of the Income Tax Act, 2021 (Act 1071).
According to the GRA, chargeable income is made up of income from employment, business or investment less any allowable deduction.
It added “chargeable income from each source of income is determined separately.”
“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%.”