Income Tax (Amendment) Act, 2018 Act 1017

INCOME TAX (AMENDMENT) ACT, 2020 (ACT 1017)
ARRANGEMENT OF SECTIONS
Section
1. Section 94 of Act 896 amended
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ACT 1017
REPUBLIC OF GHANA
THE ONETHOUSAND AND SEVENTEENTH
ACT
OF THE PARLIAMENT OF THE REPUBLIC OF GHANA
ENTITLED
INCOME TAX (AMENDMENT) ACT, 2020
AN ACT to amend the Income Tax Act, 2015 (Act 896) to exempt withdrawals from provident
funds and personal pension schemes as a result of loss of employment or capital due to the
Novel Coronavirus (COVID-19) pandemic and to provide for related matters.
DATE OF ASSENT: 8th May, 2020.
PASSED by Parliament and assented to by the President:
Section 1—Section 94 of Act 896 amended
The Income Tax Act, 2015 (Act 896) is amended in section 94 by the insertion after subsection
(3, of—
"(4) A withdrawal from a provident fund or personal pension scheme before the retirement age
by reason of the Novel Conronavirus (COVID-19) pandemic, by
(a) an employee du to loss of permanent employment, or
(b) a self-employed person from the personal saving account provided for under paragraph (a)
of subsection (2) of section 109 of the National Pensions Act, 2008 (Act 766) is exempt from
income tax.".
Date of Gazette Notification: 30th December, 2019.
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