Mercans

JANUARY 18, 2024

Chargeable Income Rate of Tax (%) First GHS 5,880 0 Next GHS 1,320 5 Next GHS 1,560 10 Next GHS 38,000 17.5 Next GHS 192,000 25 Next GHS 366,240 30 Next GHS 600,000 35 The effective date of the new tax rates is 1 January 2024. 2) Act,2003 (Act No.1111)

Payroll 40

Payroll Service 40

Mercans

JANUARY 12, 2024

Changes in national daily minimum wage In line with Section 113 (1) (a) of the Labour Act, 2003 (Act 651), the National Tripartite Committee has increased the national daily minimum wage from GHS 14.88 Monthly minimum ceiling: GHS 18.15 x 27 days = GHS 490,05 Monthly minimum contribution: GHS 490.05 x 18.5% = GHS 90.66

Payroll 40

Payroll Insurance Service 40

Mercans

JANUARY 23, 2024

Changes in minimum and maximum insurable earnings The Social Security and National Insurance Trust (SSNIT), in consultation with the National Pension Regulatory Authority (NPR) has increased the maximum insurable earning for 2024 from GHS 42,000 to GHS 52,000. The minimum insurable earning for 2024 has also increased from GHS 401.76

Insurance 40

Insurance Payroll Service 40

Mercans

MAY 9, 2023

2) Bill 2022 1 which provided for the introduction of an additional top individual income tax bracket with a rate of 35% on income exceeding GHS 600,000. On 31 March 2023, the Parliament of Ghana approved the Income Tax (Amendment) (No.2) 6,300 43,704 6,522 Next 196,740 25 49,185 240,444 55,707 Next 359,556 35 107,866.80 600,000 163,573.80

Payroll 40

Payroll Service 40