Ghana introduces phase two of VAT e-invoicing

12 September, 2024

The Ghana Revenue Authority (GRA) released a public notice regarding the implementation of the second phase of the Electronic VAT Invoicing System. The system is expected to assist businesses and the tax authority in obtaining real-time monitoring

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Ghana negotiates tax treaties with Hungary, Israel, UAE, Korea, Egypt 

03 September, 2024

Ghana announced that it is negotiating to establish income tax treaties with Hungary, Israel, UAE, Korea, and Egypt. Daniel Nuer, Head of the Tax Policy Unit at Ghana's Ministry of Finance, revealed that the Ministry plans to implement

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Ghana: 2024 mid-year budget introduces digital solutions, indirect tax measures

08 August, 2024

Ghana’s Minister of Finance, Mohammed Amin Adam, presented the 2024 mid-year budget review to the parliament on 23 July 2024. The key provisions of this year’s budget review aim to effectively implement existing tax policies, particularly those

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Ghana mandates transfer pricing compliance in CbC reporting 

14 May, 2024

Ghana has made it mandatory for Multinational Enterprises (MNEs) operating in the country, that meet specific revenue thresholds, to provide detailed information on their worldwide operations through Country-by-Country Reporting (CbCR). MNEs are

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Ghana halts 15% VAT on residential electricity usage

08 February, 2024

On 7 February 2024, the Ministry of Finance in Ghana released a press statement regarding enforcing Value-Added Tax (VAT) on electricity consumption by residential customers. According to the statement, electricity suppliers were informed of the

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IMF issues report following Article IV Consultation with Ghana

21 January, 2024

On 19 January 2024 the IMF issued a report following consultations with Ghana under Article IV of the IMF’s articles of agreement and the first review of Ghana’s Extended Credit Facility arrangement. The report notes that Ghana’s performance

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OECD: Taxing the Informal Economy: Policy, Evidence and Lessons for the Future

03 May, 2023

On 4 April 2023 a webinar was held to present the results of two studies on presumptive tax regimes and the informal sector, and to draw lessons for the future design of such taxes. The webinar was co-hosted by the International Centre for Tax

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Ghana: Tax measures of 2023 Budget

28 November, 2022

On 24 November 2022, Ghana’s Finance Minister read the 2023 Budget Statement and Economic Policy in Parliament. The 2023 Budget is focused on resetting economy and restoring macroeconomic stability. Accordingly, the Minister outlined the following

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Ghana issues Mid-year fiscal policy review of 2022

10 August, 2022

Ghana issues Mid-year fiscal policy review of 2022 10 Aug 2022 On 25 July 2022, Mr. Ken Ofori-Atta, the Minister for Finance and Economic Planning of Ghana presented the 2022 Mid-year Budget Review Statement to Parliament. This is in

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Ghana introduces e-Filing requirements

30 March, 2022

The Ghana Revenue Authority (GRA) announced the requirement to file tax returns electronically beginning from 1 April 2022. The following categories of taxpayers subject to file tax returns electronically: Taxpayers registered with the Large

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Ghana Revenue Authority Proposes Revisions to Tobacco Tax

05 February, 2022

On 26 January 2022 the Ghana Revenue Authority (GRA) announced that revisions to the Tobacco Tax will be implemented later this year after consultations with relevant stakeholders are completed. The GRA intends to introduce a combination of

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Ghana: Report Recommends Changes to Tobacco Taxation

05 February, 2022

On 26 January 2022 the Vision for Alternative Development (VALD), a Ghanaian NGO, released a Study Report on Economics of Tobacco in Ghana. The report recommended the re-introduction of a specific tax in addition to the ad-valorem tax system and

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World Bank: Conference looks at implementation of new tax instruments

01 October, 2021

On 1 October 2021 the second day of the Third World Bank Tax Conference looked at the practical implementation of new tax instruments. Sugar tax in South Africa The sugar-sweetened beverage tax in South Africa was first announced in the 2016

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Ghana enacts Budget for 2021

12 April, 2021

On 31 March 2021, Ghana’s 2021 budget statement and economic policy passed by the Parliament and having received presidential assent. There are measures allowing for waiver of tax penalties and interest on accumulated tax arrears up to 31

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Ghana: Budget Announcements for 2021

16 March, 2021

On 12 March 2021, Mr. Osei Kyei-Mensah-Bonsu, the Finance Minister of Ghana’s Caretaker Govt., presented the 2021 Budget Statement and Economic Policy in the Parliament. Among the revenue provisions in the 2021 budget are the following tax

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Ghana updates tax appellate processes

10 January, 2021

Ghana’s Parliament has passed the Revenue Administration Act, 2020 (Act 1029) as an amendment to the tax procedures and administration rules. Previously, taxpayers only could appeal to the High Court of a tax decision made by the

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Ghana: Finance Minister submits new TP Regulations 2020 before Parliament

10 November, 2020

On 10 August 2020, Mr. Ken Ofori-Atta, the Minister of Finance of Ghana submitted new Transfer Pricing (TP) Regulations 2020 (L.I. 2412) before Parliament. Accordance to Article 11(7) of the Constitution of the Republic of Ghana,

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Ghana: Parliament approves tax measures in response to COVID-19 outbreak

19 May, 2020

On 1 May 2020, the Parliament of Ghana passed the Income Tax (Amendment) Bill 2020 to introduce several emergency tax measures in response to Covid-19 pandemic. The approved income tax measures are as follows: An individual who makes withdrawals

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