30 September 2026
Tax compliance is more than submitting returns and making payments. For a business, it involves understanding which taxes apply, keeping accurate records, meeting filing deadlines and planning transactions with their tax implications in mind.
For businesses operating in Ghana, 2026 has brought important changes, particularly to VAT and income taxation. Understanding these obligations can help businesses reduce compliance risks and make better financial decisions.
1. Start with Proper Tax Registration
Every business should ensure that it is properly registered with the Ghana Revenue Authority (GRA) and that its tax profile reflects its current business activities.
Businesses should maintain an organised tax file containing registration information, tax returns, payment records, withholding tax certificates, VAT documentation, payroll records and relevant correspondence with the GRA.
2. Understand Your Corporate Income Tax
Companies are generally required to account for tax on their taxable income. Importantly, accounting profit is not necessarily the same as taxable profit.
Businesses should therefore understand allowable expenses, non-deductible expenses, capital allowances, tax losses and withholding tax credits when determining their tax position.
Corporate taxpayers using the self-assessment system generally make quarterly payments, with instalments due on 31 March, 30 June, 30 September and 31 December.
3. Pay Attention to the 2026 VAT Changes
VAT underwent significant reforms effective 1 January 2026. The standard VAT rate remains 15%, with 2.5% NHIL and 2.5% GETFund Levy, giving an effective total of 20% on applicable supplies. The COVID-19 Health Recovery Levy was abolished and the VAT Flat Rate Scheme was discontinued.
For businesses dealing in goods, the VAT registration threshold was increased to GH₵750,000. Businesses should review their turnover, invoices, accounting systems and pricing to ensure that they are applying the current rules correctly.
4. Do Not Overlook PAYE and Withholding Tax
Employers must deduct PAYE from employees where applicable and generally file the monthly PAYE return by the 15th of the following month.
Withholding tax also requires careful attention. Certain payments to suppliers, contractors, service providers, landlords and other recipients may require withholding. Applicable amounts should be withheld, paid to the GRA within the prescribed period, and supported by the appropriate certificates.
5. Keep Accurate Records and Reconcile Regularly
Good tax compliance begins with good records.
Businesses should maintain reliable records of:
- Sales and income
- Purchases and expenses
- Payroll
- Bank transactions
- VAT transactions
- Withholding taxes
- Tax payments and returns
- Supporting invoices and receipts
It is also important to reconcile accounting records with tax returns, bank payments and the business's GRA tax account. Identifying discrepancies early is considerably easier than resolving them during a tax review.
6. Make Tax Planning Part of Business Management
Tax planning should not begin when a tax deadline is approaching. Businesses should consider tax implications when making decisions about investments, financing, capital expenditure, contracts, employee remuneration and major purchases.
The objective should be compliant tax efficiency—making legitimate use of applicable deductions, allowances, exemptions and incentives while maintaining proper documentation.
A Practical TASL CONSULT Approach
A disciplined tax process can be summarised as:
Record accurately → Reconcile regularly → Review tax implications → File correctly → Pay on time → Retain evidence → Plan ahead.
At TASL CONSULT, we believe effective tax management should form part of sound financial management and corporate governance, not simply a year-end compliance exercise.
Need help reviewing your business tax compliance and planning processes? Contact TASL CONSULT for professional Tax, Audit and Advisory support.
This article provides general information and should not be treated as specific tax or legal advice. Tax legislation and administrative guidance may change, so businesses should obtain professional advice based on their particular circumstances.
TASL Tax Advisory Practice
CITG & Chartered Tax Specialists
Our practice team assists corporate organizations and SMEs across West Africa with tax planning, statutory returns, GRA audit support, and advisory services.