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Established by the government of Ghana under the FWSC ACT, 2007 (Act 737), the Fair Wages and Salaries Commission has the mandate of implementing the new Government Pay Policy (i.e. Single Spine Pay Policy) as regard salaries, wages, grading and classification of public service workers.
[3] [4] He made this known in the 2022 budget statement and economic policy that was read in the parliament of Ghana. [5] 1.75% is the rate of the E-levy which the Government decided to apply on all transactions. [1] [6] [7] [8] Ken Ofori-Atta said it could raise about $1.15billion which will widen the tax net. [9]
The first Ghanaian to head this ministry is Komla Agbeli Gbedemah who assumed this position in 1954 when the Britain allowed Kwame Nkrumah to form a government prior to gaining full independence in 1957. The Ministry has at various times been designated as Ministry of Finance or as it is currently, the Ministry of Finance and Economic Planning.
The Ghana Revenue Authority (GRA) is the Ghana administration charged with the task of assessing, collecting and accounting for tax revenue in Ghana. [1] [2]As part of efforts to improve compliance, the Authority is required to assist taxpayers to understand and meet their tax obligations by providing robust and comprehensive advice.
62% (This consists of 40% income tax on the GBP 100k–125k band, an effective 20% due to the phase-out of the personal allowance, and 2% employee National Insurance). The marginal rate then drops to 47% for income above GBP 125k (45% income tax plus 2% employee National Insurance) [241] [242] 20% (standard rate) 5% (home energy and renovations)
3 October: Ghana reports its first case of mpox this year. [2]14 October: A bus falls into a ditch in Kwapia, Ashanti Region, killing 13 people. [3]18 October: Parliament speaker Alban Bagbin declares four seats held by MPs who switched parties vacant, effectively giving the opposition National Democratic Congress a majority in the legislature. [4]
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In Germany employers are required to pay salary tax (Lohnsteuer) for their employees which is an advance payment on the income tax. The employer is liable for the salary tax [16] but the employee has to pay it. [17] In most situations it is not mandatory to file taxes as the salary tax can cover the whole income tax.