TaxLawGHby MSL Business School
MSL Business SchoolGhana tax authority guide
Corporate Income Tax in Ghana
The definitive guide to Ghana's company tax rates, residence and permanent establishments, deductions, capital allowances, losses, minimum chargeable income, incentives, levies and filing.
Published and prepared by MSL Business School through TaxLawGH, its tax and fiscal policy education platform.
MSL Business School Tax snapshot
General company rate
25%Applied to chargeable income, not accounting profit or turnoverHotel industry
22%Company principally engaged in the hotel industryNon-traditional exports
8%Qualifying income from the export of non-traditional goodsMineral and petroleum operations
35%Separate sector rules, ring-fencing and fiscal obligations applyProvisional tax
4 instalmentsDue by the end of months 3, 6, 9 and 12 of the basis periodAnnual return
4 monthsAfter the end of the company's accounting yearTaxLawGH by MSL Business SchoolThis print view is a summary. Use taxlawgh.com/ghana-corporate-income-tax for the complete, current guide, tables and interactive navigation.
The controlling framework
Ghana's general corporate income tax rate is 25%.
The 25% rate applies to a company's chargeable income for the year of assessment. Chargeable income is a tax-law amount: it starts from the company's business and investment income, applies the statutory deduction and adjustment rules, deducts qualifying capital allowances and available losses, and then applies the rate assigned to each income stream.
The financial-reporting result before the tax computation. It is the starting information, not the corporate income tax base.
The amount produced after applying the Income Tax Act to income, deductions, capital allowances, losses and any separate-rate streams.
The tax produced by applying the relevant rate to chargeable income before subtracting evidenced tax credits and instalments.
The final liability after allowable withholding credits, provisional instalments and other recognised credits are applied.
Residence and taxable presence
When a company is resident—or has a permanent establishment—in Ghana
A company is resident in Ghana for a year of assessment if it is incorporated under Ghanaian law or if the management and control of its affairs are exercised in Ghana at any time during that year. A resident company's Ghanaian and foreign-source income enters the Ghana computation, subject to exemptions, treaty rules and foreign-tax credits.
Ghanaian incorporation is independently sufficient to make the company resident. It is not necessary to apply a separate day-count test.
A foreign-incorporated company is resident for a year in which management and control of its affairs are exercised in Ghana at any time.
Chargeable income from Ghanaian and foreign business and investment sources is included, with relief for qualifying foreign income tax.
Ghana-source income is taxable. Income connected with a Ghanaian permanent establishment is also included under the permanent-establishment rules.
What creates a Ghanaian permanent establishment?
A Ghanaian permanent establishment includes a place in Ghana where a non-resident carries on business or that is available to it for that purpose. The statutory definition also covers the following situations.
An office, branch, factory, workshop or other place in Ghana through which the non-resident's business is carried on.
A place in Ghana where the non-resident has, uses or installs substantial equipment or substantial machinery.
A construction, assembly or installation project in Ghana for 90 days or more, including connected supervisory activities.
The provision of services in Ghana can itself create a Ghanaian permanent establishment under the domestic-law definition.
A place where an agent performs functions on behalf of the non-resident, including collecting insurance premiums or insuring risks in Ghana, unless the statutory independent-agent exclusion applies.
The establishment is treated as distinct from its non-resident owner, taxed like a resident company on attributable income, and subject to the branch-profit rules.
Treaty overlay: where an applicable double tax agreement contains a narrower permanent-establishment threshold, the treaty must be tested alongside the domestic law. Ghana does not permit a group to replace separate company returns with one consolidated corporate return.
MSL Business SchoolTax rate reference
Company income can be taxed at different rates.
The applicable rate follows the activity, income stream, location and qualification conditions. A company earning income in more than one category must identify and compute the separate streams correctly.
| Company income | Application | Rate |
|---|---|---|
| General company income | Chargeable income not assigned another rate | 25% |
| Hotel industry | Company principally engaged in the hotel industry | 22% |
| Non-traditional exports | Qualifying income from the export of non-traditional goods | 8% |
| Financial institution: farming loans | Qualifying income from loans granted to farming enterprises for use in producing income | 20% |
| Financial institution: leasing-company loans | Qualifying income from loans used by a leasing company to fund or acquire assets for lease | 20% |
| Manufacturing in a regional capital outside Accra and Tema | Qualifying manufacturing income | 18.75% |
| Manufacturing outside Accra, Tema and the regional capitals | Qualifying manufacturing income | 12.5% |
| Free Zone Enterprise: domestic-market income after the concessionary period | Goods and services supplied to the national customs territory | 25% |
| Free Zone Enterprise: export income after the concessionary period | Goods and services exported outside the national customs territory | 15% |
| Petroleum operations | Chargeable income from petroleum operations | 35% |
| Mineral operations | Chargeable income from mineral operations | 35% |
| Lottery and gaming operations | Gross gaming revenue: total amount staked or wagered less prizes or gross winnings paid or payable | 20% of GGR |
| Rural banking after the ten-year concession | Income from a qualifying rural banking business after the 5% concession ends | 25% |
A rate is not obtained merely by adopting an industry label. The statutory activity, location, licensing, commencement and income-tracing conditions must be satisfied.
Gaming operators: the 20% tax uses gross gaming revenue as chargeable income and is not the ordinary 25% tax on net profit. Non-lottery income is computed separately. The 2025 repeal of withholding tax on players' winnings did not repeal the operator's 20% gross gaming revenue tax.
Tax computation
How chargeable income is determined
The tax computation reconciles the financial statements to the Income Tax Act. It removes accounting items that the Act does not recognise, applies the statutory valuation and timing rules, and substitutes tax capital allowances for accounting depreciation.
- 01Identify business and investment income
Bring into the computation revenue, gains and other amounts derived according to the Act, separated where different rates or ring-fencing rules apply.
- 02Test every deduction
An expense is deductible when it is incurred wholly, exclusively and necessarily in producing the income and is not denied by a specific rule.
- 03Add back non-deductible items
Accounting depreciation, income tax, capital expenditure, private or domestic expenditure, fines and penalties, distributions and other prohibited deductions do not reduce chargeable income.
- 04Apply tax-specific deductions
Deduct qualifying capital allowances, available unrelieved losses, permitted financing costs, bad debts and other amounts that satisfy their statutory conditions.
- 05Apply the correct rate by income stream
Use the general 25% rate unless the income qualifies for a different company, sector, location or concessionary rate.
- 06Apply evidenced credits and instalments
Subtract withholding tax credits, foreign tax credits and provisional instalments only after verifying that the legal and documentary requirements are met.
Foreign-exchange losses: a realised revenue loss can be deductible under the statutory conditions. A capital foreign-exchange loss is capitalised for capital-allowance purposes; an unrealised loss and a foreign-exchange loss from a transaction between two resident persons are not deductible.
Allowable and disallowed expenditure
A deduction must satisfy both the general rule and every specific restriction.
Expenditure is deductible only to the extent it is incurred wholly, exclusively and necessarily in producing business or investment income. A commercial expense can still be denied or limited by a specific provision.
Cost of trading stock, staff costs, rent, utilities and other operating expenditure are deductible to the extent they satisfy the income-production test and are properly evidenced.
The immediate deduction for repairs and improvements to a depreciable asset is capped at 5% of the tax written-down value of the relevant pool at year end. Excess expenditure is added to the pool.
Qualifying research and development expenditure incurred in producing income is deductible even where the expenditure is capital in nature.
A normal-course debt is deductible when reasonable recovery steps have been taken and there is a reasonable belief it will not be paid. A later recovery is brought into income.
Interest on borrowing used to produce income is deductible subject to the specific restrictions. Other financial costs are limited to financial gains included in income plus 50% of chargeable income calculated before those gains and costs.
Qualifying contributions to approved charitable institutions, scholarship schemes, rural or urban development, sports development and approved government causes are deductible under their conditions.
Accounting depreciation and capital expenditure are not ordinary deductions. Capital allowance replaces depreciation for qualifying depreciable assets.
Common non-deductible items
Income and profit taxes, the Growth and Sustainability Levy, the Financial Sector Recovery Levy, fines and penalties, dividends and other distributions, private or domestic expenditure, accounting depreciation, capital withdrawn, general provisions, unrealised foreign-exchange losses and foreign-exchange losses on transactions between resident persons do not reduce chargeable income.
Documentation controls the result: invoices, contracts, payroll records, payment evidence, asset registers, recovery correspondence and allocation schedules should show the amount, business purpose, timing and source to which each deduction relates.
MSL Business SchoolEmployment incentive
Fresh-graduate employment creates an additional salary deduction.
A company conducting a business is entitled to an additional deduction for salary and wages paid during the year to a fresh graduate from a recognised Ghanaian tertiary institution. The rate follows the percentage of fresh graduates in the company's workforce.
| Fresh graduates as a percentage of workforce | Additional deduction |
|---|---|
| Up to 1% | 10% of qualifying salaries and wages |
| Above 1% but not more than 5% | 30% of qualifying salaries and wages |
| Above 5% | 50% of qualifying salaries and wages |
Meaning of fresh graduate: the employee must have graduated from a tertiary institution for the first time; previous employment does not prevent the employee from qualifying. The GHS 120,000 in the example is additional to the ordinary deduction for the qualifying salary cost, subject to the general deduction and evidence rules.
Tax depreciation
Capital allowance replaces accounting depreciation.
A company that owns and uses a depreciable asset in producing business income receives capital allowance under the Third Schedule. Classes 1 to 3 use the reducing-balance method; Classes 4 and 5 use the straight-line method.
| Class | Principal asset categories | Method | Rate |
|---|---|---|---|
| Class 1 | Computers, data-handling equipment and peripheral devices | Reducing balance | 40% |
| Class 2 | Vehicles; construction and earth-moving equipment; heavy and specialised trucks; plant and machinery used in manufacturing; qualifying long-term crop costs | Reducing balance | 30% |
| Class 3 | Rail and water transport assets, aircraft, specialised public-utility assets, office furniture and other depreciable assets not assigned elsewhere | Reducing balance | 20% |
| Class 4 | Buildings, structures and similar works of a permanent nature | Straight line | 10% |
| Class 5 | Intangible assets | Straight line | 1 ÷ useful life |
| Petroleum operations | Capital-allowance expenditure for each separate petroleum operation | Straight line | 20% |
| Mineral operations | Capital-allowance expenditure for each separate mineral operation | Straight line | 20% |
After the annual allowance is calculated, a residual pool balance below GHS 500 is granted as additional capital allowance. It is not a general immediate write-off for every asset costing GHS 500 or less.
The cost of a road vehicle other than a commercial vehicle is not recognised above GHS 75,000. The excess does not enter the capital-allowance pool.
The cap does not apply to a vehicle designed to carry more than half a tonne or more than 13 passengers, or used in a transportation or vehicle-rental business.
Sale proceeds can reduce a pool or produce an assessable balancing amount. When every asset in a pool is realised, the pool is dissolved and the statutory balancing rule applies.
Ownership and use matter: the asset must be owned and used in producing the company's business income. Part-business use is restricted to the qualifying portion. Petroleum and mineral expenditure is ring-fenced into separate operation pools.
Loss relief
Business losses carry forward for five years.
An unrelieved loss from a business may be deducted in any of the five years of assessment following the year in which the loss arose. The loss must be tracked by source and year and remains subject to continuity, ownership, ring-fencing and specialised sector rules.
A loss does not run indefinitely. Track each vintage and use it within the five-year period following the loss year.
Chargeable income is determined separately by source. A loss cannot automatically be moved between businesses, investments or separately ring-fenced operations.
A substantial change in underlying ownership can restrict losses and other attributes unless the statutory continuity conditions are satisfied.
The Act contains a separate carry-back mechanism for qualifying long-term contracts, subject to its conditions and ownership limitation.
Turnover-based chargeable-income floor
Minimum chargeable income begins after five consecutive loss years.
Where a person has declared tax losses for the previous five years of assessment, the minimum chargeable income for the current year is 5% of turnover. The rule operates from the sixth year of consecutive losses and continues until the person declares a tax profit. It does not apply during the first five years after commencement of operations or to a person engaged in farming.
Turnover is the total income or revenue from the business or investment before expenses and operating costs. It is not accounting profit.
The 5% amount is chargeable income, not the tax rate. The company applies its applicable corporate rate to that amount.
Tax paid under the minimum-chargeable-income rule is not carried forward as a credit against another year's liability.
Unrelieved losses continue to be governed by the five-year loss-relief rules; the minimum-income payment does not convert them into a tax credit.
If the company returns to tax profit: the ordinary chargeable-income computation resumes. This rule is not a comparison that automatically taxes the higher of ordinary income and 5% of turnover in every year.
Concessions and location relief
Corporate tax incentives depend on exact statutory qualification.
The Sixth Schedule assigns time-limited concessions and exemptions to specified activities. Qualifying income covered by the general concessionary rule is taxed at 5% during the stated period. Express exemptions—such as the Free Zone and automotive provisions—remain distinct.
| Qualifying activity | Concessionary period | Rate during period | Position after period |
|---|---|---|---|
| Agro-processing conducted wholly in Ghana | First 5 years from commercial production | 5% | Five-year location rates shown below |
| Cocoa by-product business conducted wholly in Ghana | First 5 years from commercial production | 5% | Five-year location rates shown below |
| Tree-crop farming | 10 years beginning with the first harvest | 5% | Five-year location rates shown below |
| Cash-crop farming, fish farming or livestock farming other than cattle | First 5 years from commencement | 5% | Five-year location rates shown below |
| Cattle farming | First 10 years from commencement | 5% | Five-year location rates shown below |
| Rural banking | First 10 years from establishment | 5% | 25% |
| Waste-processing company | First 7 years from commencement | 5% | 25% |
| Certified low-cost housing company | First 5 years from commencement | 5% | 25% |
| Qualifying venture capital financing company | First 10 years from first qualification | 5% | 25%, subject to the applicable rules |
| Licensed Free Zone developer or enterprise | First 10 years from commencement of operations | Exempt | 15% export income; 25% domestic income |
| Registered automobile manufacturer or assembler: semi-knocked down vehicles | 3 years from commencement | Exempt | Normal applicable rate |
| Registered automobile manufacturer or assembler: complete-knocked down vehicles | 10 years from commencement | Exempt | Normal applicable rate |
The automobile concessions are cumulative, but a manufacturer that converts from semi-knocked down to complete-knocked down production cannot receive more than ten years in aggregate.
Five-year post-concession location rates
The following businesses—and only these businesses within the initial-concession table above—enter the five-year location-rate period immediately after their respective initial concessions end.
| Business eligible for the post-concession location rates | Income covered |
|---|---|
| Tree-crop farming | Qualifying tree crops, including coconut, coffee, oil palm, rubber and sheanut |
| Cash-crop farming | Qualifying cash crops, including cassava, maize, pineapple, rice and yam |
| Fish farming | Income from the qualifying fish-farming business |
| Livestock farming other than cattle | Income from the qualifying livestock-farming business |
| Cattle farming | Income from the qualifying cattle-farming business |
| Agro-processing conducted wholly in Ghana | Income from the qualifying agro-processing business |
| Cocoa by-product business conducted wholly in Ghana | Income from the qualifying cocoa by-product business |
Each listed business applies the following rates for the next five years according to the location of the qualifying activity.
| Business location | Rate |
|---|---|
| Accra or Tema | 20% |
| Other regional capital outside the Northern Savannah Ecological Zone | 15% |
| Outside a regional capital | 10% |
| Northern Savannah Ecological Zone | 5% |
The post-concession location regime does not extend to rural banking, waste processing, low-cost housing, venture-capital financing, Free Zone operations or automobile manufacturing merely because those activities have a separate initial concession. It also does not combine with the manufacturing location rebate.
Other corporate reliefs within the framework
A privately owned university is exempt when it ploughs back 100% of its profit after tax into the business. Income of a state-owned or state-sponsored educational institution is exempt under a separate rule and is not subject to this private-university reinvestment condition.
A qualifying company receives an additional deduction of 10%, 30% or 50% of eligible salaries and wages. The complete thresholds and computation appear in the fresh-graduate section above.
An importer or manufacturer of excisable goods receives accelerated capital allowance on qualifying tax-stamp machinery: 50% of initial value in year one and 50% in year two.
A resident company can claim credit for qualifying foreign income tax, limited under the Ghanaian average-rate rule and applied separately to the relevant foreign income.
Qualification is evidence-based: retain the licence, certification, commencement date, location evidence, production records, product classification and income-tracing schedule that establish the relief. A concession is not available merely because a company adopts the name of a qualifying sector.
MSL Business SchoolWorked example
How a general-rate company computes corporate income tax
This simplified example shows the bridge from accounting profit to the amount payable. A real computation must also test every income stream, deduction, transaction and credit under the applicable rules.
Accounting depreciation does not disappear economically: it is added back because the tax system grants capital allowance instead. Withholding credits reduce the tax payable; they do not reduce chargeable income.
MSL Business SchoolCompliance framework
Estimate, pay quarterly, reconcile and file annually.
- 01Register the company and its tax types
Maintain the company's taxpayer registration, accounting year, business particulars, directors and relevant tax obligations on the GRA system.
- 02Submit the estimated tax payable
File the company's self-assessment estimate for the basis period and revise the estimate when the expected annual liability changes.
- 03Pay four provisional instalments
Pay by the last day of the third, sixth, ninth and twelfth months of the company's accounting year.
- 04Prepare the annual tax computation
Reconcile the financial statements to the Act, segment separate-rate income, support deductions, calculate capital allowances and losses, and reconcile credits and instalments.
- 05File and settle within four months
Submit the annual corporate income tax return through GRA's Taxpayers' Portal and pay the outstanding balance within four months after the accounting year ends.
- 06Retain the complete evidence file
Keep the return, financial statements, ledgers, invoices, contracts, capital-allowance register, loss schedules, transfer-pricing records, credit evidence and payment confirmations for at least six years, and longer where a dispute or application remains open.
Different accounting years produce different calendar deadlines: a 31 December year-end produces a 30 April annual-return deadline. A 30 June year-end produces a 31 October deadline.
Separate company levy
Growth and Sustainability Levy
The Growth and Sustainability Levy is separate from corporate income tax, applies regardless of an existing tax holiday or concession, and is not deductible in calculating chargeable income. Its current application extends through the 2028 year of assessment.
| Category | Entities | Rate and base |
|---|---|---|
| Category A | Banks; non-bank financial institutions; insurers; CST-liable telecommunications companies; breweries; inspection and valuation companies; mining-support companies; bulk oil distributors; oil marketing companies; communication-tower operators; upstream petroleum service companies; SEC-registered companies and institutions; specialised deposit-taking institutions; electronic money issuers; shipping lines; maritime and airport terminals | 5% of profit before tax |
| Category B | Mining companies and upstream oil and gas companies | 1% of gross production |
| Category C | All other entities not within Category A or Category B | 2.5% of profit before tax |
Compliance: the levy is estimated and paid in four quarterly instalments by 31 March, 30 June, 30 September and 31 December. For mining, gross production is gross revenue from mineral sales; for petroleum, it is petroleum produced and saved before deductions.
Banking-sector levy
Financial Sector Recovery Levy
A bank other than a rural or community bank pays the Financial Sector Recovery Levy at 5% of profit before tax. The levy is additional to corporate income tax and the Growth and Sustainability Levy and is not an allowable income-tax deduction.
A bank within the charging provision, excluding a rural bank and a community bank.
Accounting profit before tax for the relevant period, determined for the levy rather than chargeable income under the Income Tax Act.
5% of profit before tax.
The bank estimates its annual levy and pays quarterly by 31 March, 30 June, 30 September and 31 December.
Other company tax obligations
Corporate income tax is only one part of the company tax profile.
A complete company tax computation keeps each tax and levy separate. These items use different bases, filing rules and credit treatments and must not be folded into the 25% corporate income tax rate.
The statutory withholding rate for resident-company dividends and repatriated branch after-tax profits is 8%. Apply the relevant exemption or treaty rule where its conditions are satisfied. See the Ghana withholding tax guide.
A company making taxable supplies must test registration, invoicing, output tax, input tax and filing under the VAT framework. See the Ghana VAT guide.
PAYE, social security, withholding on goods, works and services, non-resident payments and other collection obligations are separate from the company's own annual income tax.
Customs duties, import levies, excise duty, communications service tax, stamp duty and sector levies apply where the relevant transaction or activity falls within their charging provisions.
Effective tax burden is fact-specific: do not add headline percentages together unless the company is within each charging provision and each percentage is applied to its own correct base.
High-risk technical areas
Important distinctions in a company tax computation
Transactions between persons in a controlled relationship must satisfy the arm's-length standard. The company must maintain the prescribed transfer-pricing documentation and file the applicable return.
The 3:1 debt-to-equity restriction for an exempt-controlled resident entity can disallow financing expense attributable to excess debt. The statutory definitions and exclusions must be tested before applying the ratio.
The immediate deduction for repairs and improvements is limited by the tax written-down value rule. Excess expenditure is added to the relevant depreciable-asset pool.
Gains on the realisation of business or investment assets enter the income-tax computation under the realisation rules. A separate return is required within 30 days after a realisation.
Continuity rules can restrict the use of losses and other attributes following a substantial ownership change. Test ownership and business continuity before carrying relief forward.
Extractive operations have specialised income, capital-allowance, loss, royalty, levy and agreement rules. The 35% headline rate is only one part of the fiscal computation.
Frequently asked questions
Ghana corporate income tax questions
What is the corporate income tax rate in Ghana?
The general rate is 25% of chargeable income. Different rates apply to qualifying hotel income, non-traditional exports, specified financial-institution income, manufacturing income by location, Free Zone income, lottery operations, petroleum operations, mineral operations and statutory concessions.
When is a company resident in Ghana for tax purposes?
A company is resident if it is incorporated under Ghanaian law or if the management and control of its affairs are exercised in Ghana at any time during the year of assessment.
What creates a Ghanaian permanent establishment?
A Ghanaian permanent establishment includes a Ghana business place, substantial equipment or machinery, a construction, assembly or installation project lasting at least 90 days, services provided in Ghana, or functions performed by a dependent agent. An applicable tax treaty can provide a narrower threshold.
Is Ghana corporate income tax charged on turnover?
Corporate income tax is ordinarily charged on chargeable income, not turnover. After five consecutive loss years, the minimum-chargeable-income rule can use 5% of turnover as chargeable income, excluding the first five years after commencement and farming.
What tax applies to lottery and gaming operators in Ghana?
Income from lottery operations is taxed at 20% of gross gaming revenue. Gross gaming revenue is the total amount staked or wagered less prizes or gross winnings paid or payable. Other income of the operator is computed separately.
What is the corporate tax rate for a rural bank after its concession?
A qualifying rural banking business is taxed at 5% for its first ten years of assessment. After that period, the general 25% company rate applies under the current statutory framework.
When is a Ghana company income tax return due?
The annual corporate income tax return and outstanding balance are due within four months after the end of the company's accounting year.
When are corporate tax instalments paid in Ghana?
A company pays provisional income tax in four instalments by the last day of the third, sixth, ninth and twelfth months of its accounting year.
Is accounting depreciation deductible for Ghana corporate income tax?
No. Accounting depreciation is added back in the tax computation. A qualifying company deducts capital allowance under the Third Schedule for depreciable assets it owns and uses in producing business income.
How long can a company carry forward a tax loss in Ghana?
An unrelieved business loss may be used in the five years of assessment following the loss year, subject to source, continuity, ownership, ring-fencing and specialised sector rules.
What is Ghana's minimum chargeable income rule?
After five consecutive loss years, minimum chargeable income is 5% of turnover and the applicable corporate tax rate is applied to that amount. The rule does not apply in the first five years after commencement or to farming.
What are Ghana's capital allowance rates?
The principal rates are 40% for Class 1, 30% for Class 2, 20% for Class 3, 10% for Class 4 and one divided by useful life for Class 5. Petroleum and mineral operations use a separate 20% straight-line allowance.
What is the capital allowance limit for a non-commercial vehicle?
The recognised cost of a road vehicle other than a commercial vehicle is capped at GHS 75,000. A commercial vehicle includes a vehicle designed to carry more than half a tonne or more than 13 passengers, or used in a transportation or vehicle-rental business.
What is Ghana's fresh-graduate employment deduction?
A company receives an additional deduction for salary and wages paid to a fresh graduate from a recognised Ghanaian tertiary institution. The additional deduction is 10% where fresh graduates are up to 1% of the workforce, 30% where they are above 1% but not more than 5%, and 50% where they are above 5%.
Are Ghana tax holidays currently taxed at 1%?
No. The 2023 amendment replaced the former 1% Sixth Schedule concessionary rate with 5%. A qualifying Free Zone developer or enterprise has an express exemption for its first ten years and is treated under that distinct rule.
What are the Growth and Sustainability Levy rates?
Category A entities pay 5% of profit before tax, mining and upstream oil and gas companies pay 1% of gross production, and Category C entities pay 2.5% of profit before tax. The levy is separate from corporate income tax and is not deductible.
MSL Business SchoolLegal reference map
Primary authorities and section map
The main guide is written for practical use. The detailed provisions are collected here for readers who need to test the technical basis.
- Income Tax Act, 2015 (Act 896), as amendedSections 1–25: imposition, chargeable income, business and investment income, deductions, capital allowances, losses, minimum chargeable income and foreign-exchange rules
- Income Tax Act company and international provisionsSections 58–70 and 101–111: companies, distributions, residence, source, foreign tax credits, permanent establishments and branch profits
- Income Tax Act compliance provisionsSections 113 and 121–124: payment, estimates, quarterly instalments and annual returns; section 39A: return on realisation
- First Schedule to the Income Tax ActCompany, hotel, non-traditional export, financial-institution, manufacturing, Free Zone, petroleum, mineral, gross gaming revenue and concessionary rates
- Third Schedule to the Income Tax ActCapital-allowance classes, pooling, rates, methods, the GHS 500 residual rule, the GHS 75,000 non-commercial vehicle cap, disposal treatment and specialised petroleum and mineral rules
- Sixth Schedule to the Income Tax ActTemporary concessions and reliefs for farming, agro-processing, rural banking, waste processing, low-cost housing, venture capital, Free Zones, automotive manufacturing, fresh-graduate employment and other qualifying activities
- Income Tax Regulations, 2016 (L.I. 2244), as amendedSubsidiary rules for computations, losses, benefits, records and prescribed tax administration
- Transfer Pricing Regulations, 2020 (L.I. 2412)Arm's-length analysis, documentation and transfer-pricing return requirements for controlled transactions
- Revenue Administration Act, 2016 (Act 915), as amendedElectronic administration, record retention, assessments, interest, penalties, objections, refunds and enforcement
- Growth and Sustainability Levy legislation applicable to the yearSeparate levy on specified entities through 2028, including the current 1% gross-production rate for mining and upstream oil and gas companies
- Financial Sector Recovery Levy Act, 2021 (Act 1067)Separate 5% profit-before-tax levy for covered banks, quarterly payment and non-deductibility
Authority hierarchy: the legislation and any applicable double tax agreement control the tax result. Administrative guidance and the online portal explain procedure; they do not create a rate, deduction or concession.
Institutional publisher
TaxLawGH is MSL Business School's Ghana tax education platform.
This guide is part of MSL Business School's public tax and fiscal policy education work. MSL publishes TaxLawGH to make Ghana's tax law accurate, understandable and useful to taxpayers, practitioners, businesses, students and policy professionals.
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