Ghana is a country located in West Africa, bordered by the Ivory Coast (Côte d'Ivoire) to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south. Formed from the merger of the British colony of the Gold Coast and the Togoland trust territory, Ghana, in 1957, became the first sub-Saharan country in colonial Africa to gain its independence. Ghana is divided into 16 regions, and its capital is Accra. The official language of Ghana is English, and the currency is the Ghana cedi (GHS).
Well-endowed with natural resources, Ghana has roughly twice the per capita output of other countries in the West Africa sub-region. In terms of its political terrain, Ghana has a stable multiparty constitutional democracy founded on elections by open and free universal adult suffrage. The country has witnessed three smooth transitions of change of governments in the current democratic dispensation. The main arms of government are the Executive, Legislature, and Judiciary, each of which is independent of the other. At the local level, the District Assemblies are to be the highest political and administrative authority in each district, with deliberative, executive, and legislative powers.
Gold, cocoa, and oil productions, as well as remittances from citizens working abroad, are the major sources of foreign currency.
Ghana’s domestic economy continues to revolve around agriculture, which accounts for more than a third of gross domestic product (GDP) and employs more than half of the workforce, mainly small landholders.
PwC is one of the largest professional services firms in Ghana. In 2013, PwC Ghana opened a branch office in Sierra Leone. The Ghana firm has about 400 employees and 14 resident partners providing audit, assurance, tax, and advisory services to our clients across the country.
The Tax Line of Service provides direct tax services to companies and individuals, including strategic tax planning services, tax advisory services, lobbying government agencies and regulatory authorities, salary planning, payroll management and international assignment services, transfer pricing services, withholding tax (WHT) management, and indirect tax products, such as value-added tax (VAT) advisory and compliance services. Services around customs and excise duties are also provided. Further, PwC Ghana is involved in several thought leadership initiatives, such as seminars on taxes in various industries and contributing to the national budget through our pre-budget and post-budget forums.
|Corporate income tax (CIT) rates|
|Headline CIT rate (%)||
|Corporate income tax (CIT) due dates|
|CIT return due date||
Not later than four months after the end of the financial year.
|CIT final payment due date||
Final payment is due at the time of filing the annual CIT return.
|CIT estimated payment due dates||
Equal quarterly instalments due on or before the last day of the third, sixth, ninth, and 12th months of the basis period.
|Personal income tax (PIT) rates|
|Headline PIT rate (%)||
Residents: 35; and
|Personal income tax (PIT) due dates|
|PIT return due date||
Within four months after the end of the calendar year.
|PIT final payment due date||
Final payment is due at the time of filing the annual PIT return.
|PIT estimated payment due dates||
For employees, generally within 15 days after the end of the month of emoluments from employment.
Any other, by equal quarterly instalments due on or before the last day of the third, sixth, ninth, and 12th months of the calendar year.
|Value-added tax (VAT) rates|
|Standard VAT rate (%)||
Standard rate scheme: 15; and
Flat rate scheme: 3
Additional levies are charged on taxable supplies. Under the standard rate scheme these are NHIL: 2.5, GETFL: 2.5 and CHRL:1. While under the flat rate scheme, this is the CHRL: 1
|Withholding tax (WHT) rates|
|WHT rates (%) (Dividends/Interest/Royalties)||
Resident: 8 / 8 / 15;
Non-resident: 8 / 8 / 15; and
See Ghana's Corporate summary for a description of other WHTs.
|Capital gains tax (CGT) rates|
|Headline corporate capital gains tax rate (%)||
Capital gains are included as part of income and taxed at the applicable corporate income tax rate.
|Headline individual capital gains tax rate (%)||
Capital gains are included as part of income and taxed at the individual’s marginal/graduated tax rate for residents and 25% for non-residents; or 25% (upon election and the gains are as a result of the realisation of investment assets).
|Net wealth/worth tax rates|
|Headline net wealth/worth tax rate (%)||
|Inheritance and gift tax rates|
|Headline inheritance tax rate (%)||
Inheritance tax is not expressly and separately provided for under the tax laws of Ghana.
|Headline gift tax rate (%)||
Gift is included in the income of the individual and taxed at 25% for a non-resident and the marginal rate for a resident; or 25% (upon election and the gift does not relate to business or employment).