Ghana Tax Data Card 2017 | KPMG | GH

Ghana Tax Data Card 2017

Ghana Tax Data Card 2017

The KPMG Tax Data Card provides a brief insight into the Income Tax Act, 2015 (Act 896), including the subsequent amendments to the Act. It is important to note that, most of the taxes initiated in the 2017 Budget Statement which is to create a conducive business environment have been enacted into law.

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Ghana Tax Data Card 2017

WHY THIS MATTERS

The KPMG Tax Data Card provides a brief insight into the Income Tax Act, 2015 (Act 896), including the subsequent amendments to the Act.

It is important to note that, most of the taxes initiated in the 2017 Budget Statement which is to create a conducive business environment have been enacted into law.

Recent and new amendments are as follows:

  • Exemption from tax on gains from the realisationof securities listed on the Ghana Stock Exchange.
  • Repeal of taxes and levies on petroleum and petroleum related products.
  • Removal of 1% special import levypayable on specific imported goods.
  • Removal of 17.5% VAT/NHIL on financial services, selected imported medicines (not manufactured in Ghana) and on domestic airline tickets
  • Reduction of VAT/NHIL for traders from 17.5% to 3% flat rate and Special Petroleum Tax from 17.5% to 15%, and
  • Introduction of the VAT flat rate scheme.

Contact Us

For additional information or assistance, please contact 

Emmanuel Asiedu

Partner, Tax

Tel: +233 (302) 770 454

E-mail: easiedu@kpmg.com 

Kofi Frempong-Kore

Partner, Tax

Tel: +233 (302) 770 454

E-mail: kfkore@kpmg.com

© 2017 KPMG, a Ghanaian registered partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

Flash Alert is an Global Mobility Services publication of KPMG LLPs Washington National Tax practice. The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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