Individual - Significant developments

Last reviewed - 08 March 2024

Income Tax Amendment (No. 2) Act, 2023 (Act 1111)

The personal income tax bands and rates for resident individuals have been revised to align with the 2024 minimum daily wage. 

Increase in the first-tier social security contribution

Effective 1 January 2024, the monthly maximum and minimum first-tier social security contributions payable to the Social Security and National Insurance Trust (SSNIT) have been revised to GHS 7,020.00 and GHS 66.16 respectively.