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Ghana: Tax proposals in 2020 budget

Ghana: Tax proposals in 2020 budget

The 2020 budget, presented 13 November 2019, does not propose any new taxes, but would extend the national fiscal stabilization levy (NFSL) at a rate of 5% and the special import levy (SIL) at a rate of 2% for five years through 2024.


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Other tax-related items proposed in the 2020 budget include:

  • Adjustments to the bands of individual income tax
  • Review of individual (personal) tax-relief measures relating to provisions such as child education and old age
  • Repeal of value added tax (VAT) on management fees relating to private equity, venture capital, and mutual funds

There are also proposals for legislative review of current tax legislation and for updates to existing transfer pricing regulations, the introduction of revenue administration regulations, and “abridged” versions of major tax laws. Another item for review is legislation to regulate the taxation of e-services.

Read a November 2019 report [PDF 4.3 MB] prepared by the KPMG member firm in Ghana

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