New Personal Income Tax Rates

Home - News & Events - News

The Commissioner of Internal Revenue wishes to inform the general public especially taxpayers, employers, paymasters, accountants, tax practitioners and consultants that Parliament has by Legislative Instrument (L.I.)  1965 approved new personal income tax rates.  The effective date of implementation is 9th June 2010.

The New Rates are:

 

2010 INDIVIDUAL TAX RATES (ANNUAL)

 

Chargeable Income

 

GH¢

Rate

 

%

Tax

 

GH¢

Cumulative

Chargeable Income

GH¢

Cumulative

Tax

GH¢

First    1,008

Next      240

Next      720

Next 14,232

Free

5

10

17.5

       NIL

       12

       72

  2,490.60

            1,008

            1,248

            1,968

          16,200

         NIL

         12

         84

    2,574.60

 

  Exceeding 16,200       25%

 

2010 INDIVIDUAL TAX RATES (MONTHLY)

 

Chargeable Income

 

GH¢

Rate

 

%

Tax

 

GH¢

Cumulative

Chargeable Income

GH¢

Cumulative

Tax

GH¢

First        84

Next       20

Next       60

Next  1,186

NIL

5

10

17.5

       NIL

         1

         6

     207.55

               84

             104

             164

          1,350

         NIL

           1

           7

       214.55

 

 Exceeding 1,350           25%

 

Taxpayers, employers, paymasters, accountants, tax practitioners and consultants are to take note accordingly.

 

NB:     Taxpayers who are using the IRS Tax Helper Software can download a Soft copy of the above Tax Rate from www.irs.gov.gh

 

 

COMMISSIONER

IRS – YOUR PARTNER IN NATIONAL DEVELOPMENT

More News