Implementation of New Tax Laws and Amendments

The Ghana Revenue Authority (GRA) announces for the information of the general public the coming into force of amendments to the following Tax Laws and the introduction of the Emissions Levy Act, 2023 (Act1112):

1. CUSTOMS (AMENDMENT) ACT, 2023 (ACT 1106)
2. VALUE ADDED TAX (AMENDMENT) ACT, 2023 (ACT 1107)
3. EXCISE DUTY (AMENDMENT) (NO.2) ACT, 2023 (ACT 1108)
4. STAMP DUTY (AMENDMENT) ACT, 2023 (ACT 1109)
5. EXEMPTIONS (AMENDMENT) ACT, 2023 (ACT 1110)
6. INCOME TAX (AMENDMENT) (NO.2) ACT, 2023 (ACT 1111)
7. EMISSIONS LEVY ACT, 2023 (ACT 1112)

The First Schedule of the Customs Act, 2015 (Act 891) has been amended to include four hundred and thirty-one (431) additional tariff descriptions to the Customs Tariff. There is also a provision of a waiver of duty on the importation of raw materials for the local manufacture of sanitary towels. 

The Value Added Tax Act, 2013 (Act 870) has been amended to:

1. Provide for a flat rate of tax on the rental of commercial premises other than commercial rental establishments
2. Provide for a flat rate of tax on the supply of immovable property by an estate developer
3. Extend the zero tax rate for locally manufactured textiles and locally manufactured vehicles
4. Introduce a zero tax rate for locally manufactured sanitary towels
5. Waive the tax on electric vehicles for public transportation; and
6. Review the exemptions for specified goods and services.

Additionally, the supply of the non-life insurance contract is taxable under Section 48 of Act 870.

The Excise Duty Act, 2014 (Act 878) has been amended to:

1. Increase the excise duty rate on cider beer to align with the excise duty rate on beer;
2. Reduce excise duty rate on plastics; and,
3. Expand the coverage of excise duty on plastics to imported plastic packaging.

The Stamp Duty Act 2005 (Act 689) has also been amended to provide for an increase in the rate of stamp duties.

The Exemptions Act, 2022 (Act 1083) has been amended to provide for a waiver of Customs duties and taxes in respect of the importation of fishing gear for agricultural purposes.

The Income Tax Act, 2015 (Act 896) has been amended to revise the rates of income tax for individuals. The table below shows the chargeable income and rate of tax of a resident individual for a year of assessment: 

The Emissions Levy Act, 2023 (Act 1112) has been passed to impose an emissions levy on carbon dioxide equivalent emissions from specified sectors and internal combustion engine vehicle emissions. The table below provides the rates payable:

The effective date of implementation of the Amendments and the new tax law is 1^st January, 2024.

Additional information on the Amendments and new tax laws can be obtained from the GRA website or copies purchased at the Assembly Press.

GRA will also develop administrative guidelines and practice notes on the implementation of the Amendments where necessary. Kindly note that payroll deductions for January, 2024 should reflect the new rates provided in the Income Tax (Amendment) (No. 2) Act, 2023 (Act 1111).

The general public is therefore entreated to take note and be guided accordingly.

GRA can be reached on Toll free number 0800-900-110 or WhatsApp on 0552990000 / 0200631664. You may also visit any of our Taxpayer Service Centres (TSCs) across the country for assistance.