AI-assisted research summary: Resident persons must withhold tax on certain payments, including dividends, interest, rent, royalties, natural resource payments, and some asset or liability realisation payments.
INCOME TAX (AKC^OlEI^TrACT/ZO^1 - Act 1134 ARRANGEMENT OF SECTIONS Section 1r Section 6 of Act 896 amended 2. Section 85 of Act 896 amended 3. Section 115 of Act 896 amended 4. Section 119 of Act 896 amended 5. First Schedule to Act 896 amended Act 1134 REPUBLIC OF GHANA The One Thousand one hundred and thirty-fourth ACT OF THE PARLIAMENT OF THE REPUBLIC OF GHANA ENTITLED INCOME TAX (AMENDMENT) ACT, 2025 AN ACT to amend the Income Tax Act, 2015 (Act 896) to remove the withholding on winnings from lottery and on purchase of unprocessed gold and to provide for related matters. DATE OF AS SENT: 2nd April, 2025 PASSED by Parliament and assented to by the President Section 6 of Act 896 amended 1. The Income Tax Act, 2015 (Act 896), referred to in this Act as the “principal enactment”, is amended in section 6 by the deletion of subparagraph (vii) of paragraph (a) of subsection (2). Section 85 of Act 896 amended 2. The principal enactment is amended in subsection (5) of section 85 by the substitution for the definition of “unprocessed precious mineral”, of ““unprocessed precious mineral” means unprocessed rough diamonds within the meaning given in the 2 Income Tax (Amendment) Act, 2025 Act 1134 Minerals and Mining Act, 2006 (Act 703) and other minerals as may be prescribed by Regulations.”. Section 115 of Act 896 amended 3. The principal enactment is amended in section 115 by the substitution for subsection (1), of “(1) Subject to subsection (2), a resident person shall withhold tax at the rate specified in paragraph 8 of the First Schedule where that person pays (a) any dividend, interest, natural resource payment, rent or royalty to another person, or (b) consideration to another person in respect of the realisation of an asset or a liability and the payment has a source in the country.”. Section 119 of Act 896 amended 4. The principal enactment is amended in section 119 by the deletion of paragraph (f) of subsection (1). First Schedule to Act 896 amended 5. The principal enactment is amended in paragraph 8 by the deletion of subparagraph l(b)(x). Date of Gazette notification: 2nd April, 2025. 3 PRINTED BY GHANA PUBLISHING COMPANY LTD. ASSEMBLY PRESS, ACCRA. GPCL/A221/450/04/2025 Website:www.ghanapublishing.com Email:info@ghanapublishing.com Tel: +233 0302*664338/9 Website:www.ghanapublishing.com mailto:info@ghanapublishing.com