GRA outlines who qualifies for Modified Taxation Scheme and how it works

This means that resident individuals earning business income, operating mainly in the informal sector and with annual turnover of no more than GH¢750,000, may fall under the Modified Taxation Scheme, provided they meet the other requirements.“The presumptive by installment is for those taxpayers or resident individuals whose business income is up to 20,000 Ghana cedis per annum, and they pay a fixed amount as tax for the year,” Mr Akogo said.“So to qualify to be part of the Modified Taxation, you must be a resident of Ghana and must also earn business income.