income tax act 2015 act 896 amendments updated (from the file; to confirm against the document)

Integrity. Fairness. Service. DOMESTIC TAX REVENUE DIVISION AMENDMENTS -INCOME TAX ACT, 2026 (ACT 1178) The Ghana Revenue Authority (GRA) announces for the information of the general public, especially Companies, Entities, Individuals, including Self-Employed Persons and Partnerships, that following the passage of the Income Tax (Amendment) Act, 2026 (Act 1178), the income tax rates have been amended. The effective date of implementation is September 1, 2026. 1. Review of Monthly and Annual rates of Income Tax for individuals MONTHLY ANNUAL Year of Chargeable Rate Year of Chargeable Rate Assessment income % Assessment Income % 2026 Ghȼ 2026 Ghȼ First 588.00 - First 7,056.00 - Next 80.00 5.00 Next 960.00 5.00 Next 100.00 10.00 Next 1,200.00 10.00 Next 2,900.00 17.50 Next 34,800.00 17.50 Next 16,000.00 25.00 Next 192,000.00 25.00 Next 30,332.00 30.00 Next 363,984.00 30.00 Exceeding 50,000.00 35.00 Exceeding 600,000.00 35.00 2. Increase in Turnover Threshold for Modified Taxation Scheme The turnover threshold for presumptive taxation under the Modified Taxation Scheme (MTS) has been increased. Individuals whose annual business turnover is more than GH₵20,000 but does not exceed GH₵750,000 will be subject to a presumptive tax of 3% of their annual business turnover. All are entreated to take note and be guided accordingly Kindly get in contact with us by email on info@gra.gov.gh, call Toll-free number 0800- 900-110 or by WhatsApp on 055-299-0000 and 020-063-1664 COMMISSIONER-GENERAL www.gra.gov.gh #Know Taxes, Pay your Taxes, Let’s build Ghana www.gra.gov.gh