Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
GH₵ 5,330
Income Tax
- GH₵ 901
Social Security
- GH₵ 293
Total tax
- GH₵ 1,195
Net pay
* GH₵ 4,135
Marginal tax rate
29.1%
Average tax rate
22.4%
77.6%
Net pay
22.4%
Total tax
Total tax
Net pay
Summary
If you make GH₵ 63,960 a year living in Ghana, you will be taxed GH₵ 14,335. That means that your net pay will be GH₵ 49,625 per year, or GH₵ 4,135 per month. Your average tax rate is 22.4% and your marginal tax rate is 29.1%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of GH₵ 100 in your salary will be taxed GH₵ 29.13, hence, your net pay will only increase by GH₵ 70.87.
Bonus Example
A GH₵ 1,000 bonus will generate an extra GH₵ 709 of net incomes. A GH₵ 5,000 bonus will generate an extra GH₵ 3,544 of net incomes.
NOTE* Withholding is calculated based on the tables of Ghana, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.