Understanding Ghana’s New Tax Collection Shift

Question 1

What percentage tax will Ghanaian banks collect on Netflix and Spotify payments?

Accepted Answer

20%

Answer

10%

Answer

5%

Answer

15%

Question 2

Which organization will receive the taxes collected by banks and payment firms in Ghana?

Accepted Answer

Ghana Revenue Authority

Answer

Bank of Ghana

Answer

Ministry of Finance

Answer

National Insurance Commission

Question 3

What components make up the 20% tax on foreign digital services in Ghana?

Accepted Answer

15% VAT, 2.5% Health Levy, 2.5% GETFund Levy

Answer

15% VAT, 3% Environmental Levy

Answer

10% VAT, 5% Service Tax, 5% Health Levy

Answer

10% Income Tax, 10% VAT

Question 4

Which of the following payments are excluded from the real-time tax net in Ghana?

Accepted Answer

Transfers via SWIFT

Answer

Payments using Ghanaian mobile money

Answer

Purchases made with a Ghana-issued card

Answer

Online gaming subscriptions

Question 5

When will banks in Ghana start collecting this tax on digital service payments?

Accepted Answer

October 15

Answer

December 1

Answer

November 15

Answer

October 1