Home Business & Economy Ghana widens income tax band to shore up revenue

Ghana widens income tax band to shore up revenue

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Ghana's finance minister Ken Ofori-Atta

GHANA has introduced an additional tax band for high personal income earners as part of measures by the authorities to shore up government revenue, Finance Minister Ken Ofori-Atta said on Thursday.

Personal earnings of 10,000 cedis ($2,100) and above will attract up to 35 percent income tax, Ofori-Atta told parliament. There will also be additional levies on non-commercial luxury cars of 3.0 litres, he told parliament in his 2018 budget review.

Ghana, which exports cocoa, gold and oil, recorded a shortfall in revenue amounting to 1.4bn cedis ($300 million) in the government’s budget for the first five months, Ofori-Atta said.

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