Business entities and individuals irrespective of nationality may be subject to the following taxes in the course of doing business in Ghana;
Companies pay 25% of profits realised from business activities as corporate taxes to the revenue authorities.
Personal Income Tax:
Is a tax levied on the gross earnings of self-employed persons in graduated rates depending on a person’s income payable in four (4) equal installments.
Are taxes collected by intermediaries from an individual who bears the ultimate economic burden of the tax, examples of indirect taxes include withholding tax, value added tax, national health insurance levy.
Pay As You Earn:
These are levied on salaries of employees in graduated rates according to their earnings to meet their income tax requirements.
Capital Gains Tax:
Refers to taxes imposed on the proceeds realised from the sale of immovable assets where such gains exceed GH¢50.00
Is 8% of rental income. Where the tenant is a corporate entity, it must withhold the tax from the rent reserved and pay to the Ghana Revenue Authority.