Ghana: New legislation includes direct and indirect tax measures

Three tax bills originally presented by the Minister of Finance in the 2023 budget

Three tax bills originally presented by the Minister of Finance in the 2023 budget

The following three tax bills, originally presented by the Minister of Finance in the 2023 budget, were approved by the Parliament on 31 March 2023, and notified in the gazette on 3 April 2023:

  • The Growth and Sustainability Levy Act, 2023 (Act 1095), which widens the scope of the existing National Fiscal Stabilisation Levy (NFSL) by introducing the Growth and Sustainability Levy (GSL) to replace the NFSL
  • The Income Tax (Amendment) Act, 2023 (Act 1094), which introduces a withholding tax on the realization of assets and liabilities and on winnings from lottery, and revises income tax rates for resident individuals and the treatment of foreign exchange losses and motor vehicle benefits-in-kind
  • The Excise Duty (Amendment) Act, 2023 (Act 1093), which increases the excise duty for cigarettes and tobacco products, wine, malt drinks and spirits, and introduces an excise duty on sweetened beverages and electronic cigarette liquids, electronic cigarettes, and electronic smoking devices

Read an April 2023 report [PDF 925 KB] prepared by the KPMG member firm in Ghana



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