Income Tax (Amendment) (No.2) Act, 2018 (Act 979)

ARRANGEMENT OF SECTION

First Schedule to Act 896 amended

PURPOSE

AN ACT to amend the First Schedule to the Income Tax Act, 2015 (Act 896) and to provide for related matters.

DATE OF ASSENT

28th December, 2018.

ACT

First Schedule to Act 896 amended

The Income Tax Act, 2015 (Act 896) is amended in the First Schedule by

(a) the substitution for the table in subparagraph (1) of paragraph 1, of

NO.	CHARGEABLE INCOME	RATE OF TAX
"1.	FIRST GH¢ 3,456	NIL
2.	NEXT GH¢1,200	5 percent
3.	NEXT GH¢1,680	10 percent
4.	NEXT GH¢36,000	17.5 percent
5.	NEXT GH¢197,664	25 percent
6.	Exceeding GH¢240,000	30 percent"

(b) the substitution for paragraph 8(1) (c) (ix), of

"(ix) in the case of goods, works or services referred to in section 116(10), twenty percent.”.