Ghana’s corporate tax framework combines a base rate with a series of sector-specific and incentive-driven rates, creating a layered structure for companies operating under the Income Tax Act, 2015 (Act 896). The standard corporate income tax rate is 25% of chargeable income, but a range of lower or higher rates applies depending on industry and location.
Sector-Specific Corporate Tax Rates
Companies principally engaged in the hotel industry are taxed at 22%, while companies engaged in petroleum and mineral operations are subject to a 35% tax rate. Companies licensed as free zone enterprises are also subject to a 15% tax rate on export income after their 10-year tax holiday.
To incentivise local manufacturing, manufacturing companies benefit from reduced rates depending on their location, with lower rates available for businesses located outside major commercial centres. Manufacturing businesses located in regional capitals, except for Accra and Tema, are taxed at 75% of the standard corporate tax rate, while those located elsewhere in the country are taxed at 50% of the standard rate.
The corporate income of companies from export of non-traditional goods such as horticulture products, handicrafts and wood products is taxed at 8%.
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Temporary Concessions Under the Sixth Schedule
Financial institutions are subject to a 20% tax rate on income derived from loans granted to farming enterprises or leasing companies for productive use. Certain activities benefit from temporary tax concessions under the Sixth Schedule to the ITA, during which they are taxed at a reduced rate of 5% on chargeable income. These include farming enterprises and agro-processing businesses using local agricultural raw materials, which enjoy a five-year concession period, waste processing businesses, which enjoy a seven-year concession period, and rural banks, which enjoy a ten-year concession period.
Following the expiry of the respective temporary concession periods, these businesses continue to enjoy reduced corporate income tax rates for a further five-year period, with the applicable rate determined by the location of the business. Businesses located in Accra and Tema are taxed at 20%, while businesses located in other regional capitals outside the Northern Savannah Ecological Zone are taxed at 15%. Businesses located outside other regional capitals are taxed at 10%, with the lowest rate of 5% applying to businesses located within the Northern Savannah Ecological Zone.
Companies of young entrepreneurs (35 years or below) within priority sectors such as agriculture, manufacturing, horticulture and medicinal plants and energy production also benefit from a five-year tax holiday, where they are taxed at only 5%, followed by reduced tax rates depending on location. The applicable rates are 15% for businesses located in Accra and Tema, 12.5% for businesses located in other regional capitals outside the three northern regions, 10% for businesses located outside regional capitals, and 5% for businesses located within the three northern regions. Although the 2018 regional reorganisation expanded the northern belt to six regions, the intent of the provision is to cover all of them.
The current approach ties tax relief more closely to both sectoral priorities and geographic development goals. This approach is a result of the lessons learned from earlier incentive schemes.
Growth and Sustainability Levy Overview
The Growth and Sustainability Levy (GSL), introduced by the Growth and Sustainability Levy Act, 2023 (Act 1095) and amended in 2025, is levied on profit before tax or gross production, depending on the business category. The levy applies for assessments from 2023 to 2028 and is not deductible for corporate income tax purposes.
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Importantly, the GSL applies regardless of any tax holiday or exemption a company enjoys under the ITA, meaning that firms benefiting from the various concessions remain liable for the levy throughout their concession periods. They must pay the levy in addition to any other taxes they owe.
Ghana’s Stance on Global Minimum Tax
Ghana does not currently participate in the OECD/G20 global minimum tax framework, nor is it a member of the Inclusive Framework that administers the Pillar Two 15% minimum tax. Nonetheless, Ghana has adopted BEPS-aligned measures, including transfer-pricing rules and anti-avoidance provisions, and monitors the two-pillar solution for possible future adoption. The Ghana Revenue Authority is responsible for enforcing these measures.
Under the residence-based system, resident companies are taxed on worldwide income, while non-resident entities are taxed only on Ghana-source income or income attributable to a permanent establishment. A non-resident creating a permanent establishment in Ghana faces the standard corporate income tax plus an 8% branch profit tax on repatriated earnings.
The Ghana Revenue Authority (GRA) enforces a self-assessment regime, requiring annual returns within four months of fiscal-year end and quarterly advance payments based on estimated chargeable income. The GRA retains authority to issue or adjust assessments as needed. They use this authority to ensure that companies are complying with the tax laws.