JULY 2022 – PAKISTAN REVISED TAX RATES PUBLISHED FOR 2022/2023 It is important that employers note the following: Revised tax rates for salaried individuals published in the Finance Act 2022 On 30 June 2022 the President of Pakistan enacted the Finance Act of 2022. The Act provides for changes to the personal income tax rates...
FEBRUARY 2020 – GHANA CHANGES TO TAX RATES It is important that employers note the following: New tax rates, effective 1 January 2020 Following the 2020 Budget speech delivered in November 2019, the proposed personal income tax bands for resident individuals have been revised by the Income Tax (Amendment) Act, 2019 (Act 1007). The personal...
FEBRUARY 2020 – SOUTH AFRICA 2020/2021 BUDGET SPEECH It is important that employers note the following: South Africa 2020/2021 Budget Speech and important changes affecting payroll The Minister of Finance, Tito Mboweni, delivered the Budget Speech for the fiscal year 2020/2021 on 26 February 2020. Highlights of the Budget Speech summarised: A consolidated budget deficit...
Revision of the Tax Rates An additional Personal Income Tax band of 35% for monthly income in excess of GHS10,000 was introduced during the Mid-year Budget Statement and came into effect 01 August 2018. Following feedback from the public after the implementation of the new tax band, Government concluded that some relief from this tax measure...
