Jan 18, 2024 1 min read

Ghana amends income tax rates for resident individuals

Amendment in income tax rates

The Income Tax, 2015 (Act 896) has been amended through the Income Tax (Amendment) (No.2) Act,2003 (Act No.1111) revising the rates of income tax for resident individuals.

The table below shows the annual chargeable income and rate of tax.

Chargeable IncomeRate of Tax (%)
First GHS 5,8800
Next GHS 1,3205
Next GHS 1,56010
Next GHS 38,00017.5
Next GHS 192,00025
Next GHS 366,24030
Next GHS 600,00035

The effective date of the new tax rates is 1 January 2024.

Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change

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Ghana amends income tax rates for resident individuals

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