THE CHALLENGES AND OPPORTUNITIES FOR GROWTH OF
Author : olivia-moreira | Published Date : 2025-06-23
Description: THE CHALLENGES AND OPPORTUNITIES FOR GROWTH OF CHINESE BUSINESSES IN GHANA 12TH AUGUST 2015 Speaker GHANA TAX TRENDS Abdallah AliNakyea Director 12082015 2 Placeholder for photo Abdallah AliNakyea FCIT FICB FCCE CEPA MIIA MTP
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Transcript:THE CHALLENGES AND OPPORTUNITIES FOR GROWTH OF:
THE CHALLENGES AND OPPORTUNITIES FOR GROWTH OF CHINESE BUSINESSES IN GHANA 12TH AUGUST 2015 Speaker GHANA TAX TRENDS· Abdallah Ali-Nakyea (Director) 12.08.2015 2 Placeholder for photo Abdallah Ali-Nakyea FCIT, FICB, FCCE, CEPA, MIIA, MTP (SA), Professional Accountant (SA), CA (Gh), LLB (Hons), BL, MPhil (Econs) (Managing Consultant) WTS Ghana (Tax Legal Consulting) P.O. Box KD 66 Kanda-Accra, Ghana Tel +233 (244) 23 5144 +233 (302) 23 6334 Fax +233 (302) 23 6334 E-mail: abdallah.alinakyea@wts.com.gh Website: www.wts.com.gh GHANA TAX TRENDS· Abdallah Ali-Nakyea (Director) 12.08.2015 3 In Ghana, the source jurisdiction is applied and this means that income is taxable in Ghana as long as its source is from Ghana. Thus where the source of an income is not from Ghana, it is not taxable in Ghana. It is to be noted that where the source of an income is not from Ghana, then the income has to be brought in or received in Ghana to make it subject to tax in Ghana. This position is clearly outlined in section 6 of the Internal Revenue Act, 2000 (Act 592). TAXABLE INCOME GHANA TAX TRENDS· Abdallah Ali-Nakyea (Director) 12.08.2015 4 In the case of a resident person, the full amount of the person’s income from the business, employment, or investment accruing in, derived from, brought into, or received in Ghana during any basis period of that person ending within the year of assessment; In the case of a non-resident person, the full amount of the person’s income from the business, employment, or investment accruing in or derived from Ghana during any basis period of the person ending within the year of assessment. ASSESSABLE INCOME The assessable income of a person for a year of assessment from any business, employment, or investment is: GHANA TAX TRENDS· Abdallah Ali-Nakyea (Director) 12.08.2015 5 A citizen of Ghana who has no permanent home outside Ghana for a whole year of assessment. Present in Ghana for a period/total of 183 days or more in a year of assessment. An employee or official of the government of Ghana posted abroad during the year. A citizen of Ghana who is temporary absent from Ghana for less than 365 continuous days and has a permanent home in Ghana. MEANING OF KEY TAX TERMINOLOGIES Resident Individual: An individual is resident for tax purposes if that individual is: GHANA TAX TRENDS· Abdallah Ali-Nakyea (Director) 12.08.2015 6 Incorporated under the laws of Ghana, or
