Ghana: Tax provisions in 2016 budget

Ghana: Tax provisions in 2016 budget

Tax policy initiatives of Ghana’s 2016 budget address strategic areas to champion the government’s progressive agenda including one related to tax policies. The government’s effort to improve tax revenue collection have been constrained by the fall in commodity prices and power supply challenges that led to a slowdown in the growth of business activity in the economy.

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A requirement for a tax identification number (TIN) is expected to be reinforced, so that all tax obligations are met. Efforts are still being made to extend the TIN to other sectors to facilitate the identification of eligible taxpayers. Other measures concern an increase to the rate of excise tax (duty) on tobacco, a re-imposition of excise tax on cider, and a review of the income tax bracket thresholds.

 

Read a November 2015 report [PDF 1.05 MB] prepared by the KPMG member firm in Ghana

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