Ghana introduces higher income tax band to shore up revenue
ACCRA, July 19 (Reuters) – Ghana is introducing an additional tax band for high personal income earners as part of measures by the West African country to shore up government revenue, Finance Minister Ken Ofori-Atta said on Thursday.
Personal earnings of 10,000 cedis ($2,100) and above will attract up to 35 percent income tax, Ofori-Atta told parliament. There will also be additional levies on non-commercial luxury cars of 3.0 litres, he told parliament in a budget review.
Ghana, which exports cocoa, gold and oil, recorded a shortfall in revenue amounting to 1.4 billion cedis ($300 mln) in the government’s budget for the first five months, Ofori-Atta said. (Reporting by Kwasi Kpodo Editing by Alison Williams)