The Ghana Revenue Authority (GRA) has announced amendments to the income tax rates for individuals following the passage of the Income Tax (Amendment) Act, 2026 (Act 1178).
The new rates take effect from September 1, 2026, and apply to companies, entities, individuals, self-employed persons and partnerships.
Under the revised monthly income tax structure, the first GH¢588 of chargeable income is tax-free. The next GH¢80 will attract a 5 percent rate, while the next GH¢100 will be taxed at 10 percent.
The next GH¢2,900 will attract a 17.5 percent rate, followed by a 25 percent rate on the next GH¢16,000. Income above GH¢30,332 up to GH¢50,000 will be taxed at 30 percent, while income exceeding GH¢50,000 will attract a 35 percent rate.
On an annual basis, the first GH¢7,056 of chargeable income is tax-free, with subsequent bands attracting rates ranging from 5 percent to 35 percent.
The GRA has also announced an increase in the turnover threshold for the Modified Taxation Scheme (MTS).
Under the revised threshold, individuals whose annual business turnover is more than GH¢20,000 but does not exceed GH¢750,000 will be subject to a presumptive tax of 3 percent of their annual business turnover.
The Authority has urged taxpayers and businesses affected by the amendments to take note of the changes and comply with the new tax requirements.
The GRA said taxpayers can contact the Authority through info@gra.gov.gh, its toll-free number 0800-900-110, or WhatsApp numbers
By: Bernard Mensah
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