Big News: Tax now charged on income from inside or outside Ghana

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I just published this post about the new withholding taxes and only after realised I had missed the biggest news.

INTRODUCTION OF A FULL WORLDWIDE BASIS OF TAXATION FOR RESIDENTS

This means that residents will now be taxed on all incomes regardless of source and whether or not foreign income earned is brought into Ghana.

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This is a big change. Tax used to be on income derived from, brought into, accrued in or received in Ghana. But now even if all the income is left in the country in which it was earned, it would still be taxed. This new tax Act is more comprehensive than I thought.

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Jerome Kuseh

Accountant | Economist-in-Training | Private Investor
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