The attention of the Ministry of Finance has been drawn to recent discussions in the public domain on taxation of casual or temporary workers.
2. The Ministry wishes to clarify that under the repealed tax Act (2000), Act 592 wages of casual and temporary workers (especially those in oil and Gas, Mining and other companies) were taxed at the marginal rate of 15% or 7.5%. These are now replaced with a lower rate of 5%.
3. For the avoidance of doubt, the 5% in the Regulation L.I 2244 is therefore a reduction in rate and not a new tax on casual and temporary employees. We hope this clarification settles the anxiety that some sections of the public have expressed.
Wednesday 3rd August, 2016. On 2nd August, 2016, the Parliament of Ghana passed the Bank of Ghana Amendment Bill. The objective of the amendment is to significantly strengthen the Central Bank’s functional autonomy, governance and ability to respond to banking sector crises.