The Ghana Revenue Authority has announced that workers on GHC365 or less as a monthly salary or GH¢4,380 as annual salary will be exempted by paying tax.
The Authority in a tweet explained that the decision is pursuant to Income Tax (Amendment) (No. 2) Act 2021. (Act 1071).
The GRA said the Act is “to amend the Income Tax Act, 2015 (Act 896) to review the rates of income tax for individuals; to reduce the withholding tax rate for sale of unprocessed gold by small scale miners; to increase the threshold for an individual to whom the presumptive tax under the Modified Taxation Scheme applies; to extend the Covid-19 concessions granted in 2021 for further six months in 2022 and to provide for related matters.”
In other news, Alan Kyeremanten has come out to openly express his intentions to run for presidency under that ticket of the incumbent, New Patriotic Party reminded the party of the sacrifices he made for it and current President, Nana Addo Dankwa Akufo-Addo, adding that it is time others also sacrifice to ensure he runs for the presidency.