GRA

The Ghana Revenue Authority (GRA) has said it will quit taxing laborers who get ¢365 and beneath as salaries or ¢4,380.00 as yearly salary.

This follows the change (no. 2) of the Income Tax Act, 2021 (Act 1071).

“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%!!!,” the GRA tweeted.

The GRA said the Act is “to amend the Income Tax Act, 2015 (Act 896) to review the rates of income tax for individuals; to reduce the withholding tax rate for sale of unprocessed gold by small scale miners; to increase the threshold for an individual to whom the presumptive tax under the Modified Taxation Scheme applies; to extend the Covid-19 concessions granted in 2021 for further six months in 2022 and to provide for related matters.”

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