Rent income is the amount received from letting or leasing a property to another person. The tax paid on rent income is referred to as Rent Income Tax. Rent Income Tax must be paid within 30 days after the rent income is received.
WHO PAYS THIS RENT TAX
- Anybody who receives income from letting or leasing a property.
- An agent who qualifies to withhold tax.
RENT TAX RATES
There are two rates for Rent Income Tax:
- 8% for residential premises
- 15% for commercial and non-residential premises.
GRA Rent Tax of 8% and 15% applies to residential and commercial rental properties, respectively.
HOW TO PA THIS RENT TAX
Payment of the Rent Income Tax can be made at the nearest Domestic Tax Revenue Division Office. You may also contact any of our offices for further clarification on the tax.
PENALTIES
Failure to pay your tax on rent income by the due date, will attract an interest of 125% of the statutory rate compounded monthly. Remember to make available copies of all receipts of payment of Rent Income Tax for inspection by officers of Ghana Revenue Authority (GRA).
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