GSL applies to an entity’s profits before tax or the production value of specified companies for the 2023-2025 years of assessment. It applies to all entities, contrary to the NFSL which was only applicable to specific industries or sectors.
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Act 1094 introduces a minimum chargeable income regime, unifies operating tax loss carry-forward rules, revises income tax bands for resident individuals and amends the treatment of foreign exchange losses, among others.
As a means of ensuring that the proposed budget revenue measures are implemented, Parliament has passed three new tax laws and amended two existing laws to be implemented in 2021, which have been passed into law and received Presidential assent on 31 March 2021.
No one ever got better at anything by beating themselves up. Talk to yourself kindly, and encouragingly, rather than ragging on yourself for making mistakes. A positive mindset will help you learn more easily, which will boost confidence.
Growing companies face a challenge. Not enough hours in the day to balance the books outgrown your existing bookkeeper or have they recently left? Then Nyansa outsourced accounting service can provide accurate and timely reporting for any business.
Nyansa has a wealth of knowledge and expertise in understanding the latest developments, law and regulations affecting companies in Ghana. Read our insights into our popular news categories for a more in depth look at solutions to the current issues and challenges facing companies today.