Paying Taxes in Ghana

The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in Ghana, as well as measures of administrative burden in paying taxes.

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Tax or mandatory contributionPayments (number)Notes on PaymentsTime (hours)Statutory tax rateTax baseTotal tax rate (% profit)Notes on TTR
Corporate income tax5 4025.0%taxable profits17.8 
Social security contributions12 8812.5%gross salaries14.1 
fuel tax1 - excise duty part of fuel pump price0.3 
Capital gains tax1 -5.0%capital gain0.3 
Tax on interest0 -8.0%taxable interest0.2included in other taxes
Municipal tax0paid jointly-various ratesproperty value0.2 
Vehicle tax1 -fixed fee (GHC 90,000) 0 
Property tax1 -various ratesproperty value0 
Value added tax (VAT) and National Health Insurance Levy12 9615.0%value added not included
Totals:33 224  32.7 


Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.