Income Tax (Amendment) Act, 2018 Act 973

INCOME TAX (AMENDMENT) ACT, 2018 (ACT 973)
ARRANGEMENT OF SECTIONS
Section
1. First Schedule of Act 896 amended
1

ACT 973
REPUBLIC OF GHANA
THE NINE HUNDRED AND SEVENTY-THIRD
ACT
OF THE PARLIAMENT OF THE REPUBLIC OF GHANA
ENTITLED
INCOME TAX (AMENDMENT) ACT, 2018
AN ACT to amend the First Schedule of the Income Tax Act, 2015 (Act 896) and provide for
related matters.
DATE OF ASSENT: 31st July, 2018.
PASSED by Parliament and assented to by the President:
Section 1— First Schedule of Act 896 amended
The Income Tax Act, 2015 (Act 896) is amended in the First Schedule by
(a) the substitution for the table in subparagraph (1) of paragraph 1, of
CHARGEABLE INCOME RATE OF TAX (%)
1. FIRST GH 03,132 NIL
2. NEXT GH 0840 5 percent
3. NEXT GH 0 1,200 10 percent
4. NEXT GH 033,720, 17.5 percent
5. NEXT GH 081,108 25 percent
6. Exceeding GH 0120,000 35 percent
2

(b)the substitution for subparagraph (2) of paragraph 1, of "(2) Subject to subparagraph (3),
the chargeable income ofa non-resident individual for a year of assessment is taxed at the rate
of twenty five percent.".
Date of Gazette Notification: August, 2018.
3