On 1 August 2018, The Parliament of Ghana published in the Official Gazette the Income Tax (Amendment) Act 2018, the National Health Insurance (Amendment) Act 2018, the Ghana Education Trust Fund (Amendment) Act 2018, the Value Added Tax (Amendment) Act 2018, and the Luxury Vehicle Act 2018. The Acts came into force on 1 August 2018.
The main measures of the Acts include:
-The introduction of a new top individual income tax rate of 35% for resident individuals, resulting in the following annual brackets/rates:
| Chargeable income | Tax rate (%) |
| First GHS-3,132 | Nil |
| Next GHS-840 | 5% |
| Next GHS-1,200 | 10% |
| Next GHS-33,720 | 17.50% |
| Next GHS-81,108 | 25% |
| Exceeding GHS-120,000 | 35% |
-An increase in the flat tax rate for non-resident individuals from 20% to 25%;
-The separation of the application of the 2.5% National Health Insurance Levy from the application of VAT, including that no input tax deductions may be claimed and that no NHIL will be levied on VAT taxpayers that are under the flat-rate scheme (3% VAT);
-The conversion of the 2.5% portion of the standard VAT rate for the Ghana Education Trust Fund into a distinct levy;
-A reduction in the standard VAT rate from 15% to 12.5% as a result of the Ghana Education Trust Fund levy change; and
-The introduction of a new levy on luxury vehicles at a rate of GHS 1,000 to 2,000 depending on engine size, which is payable when a vehicle is registered when the annual roadworthy certificate is renewed.
