Payroll

New PAYE 2024

How to compute the new (2024) Employee Income Tax (PAYE) in Ghana [template provided]

Ghana’s Parliament passed an amendment in December 2023, changing the Income Tax Act. They also added a minimum chargeable income, which might be tied to the rise in the National Daily Minimum Wage. These adjustments are likely to affect Ghana’s economy and workers significantly. After the amendment was passed in December 2023, the Ghana Revenue Authority (GRA) stated that the…

choosing the right payroll provider in ghana

Payroll Outsourcing in Ghana – Part 2: Choosing the Right Payroll Outsourcing Provider in Ghana

With the decision to outsource payroll in Ghana made, the crucial task of selecting the right provider remains. In this complex and competitive landscape, choosing the ideal partner can significantly impact your payroll efficiency, compliance, and overall business success. Here’s a comprehensive guide to navigating this critical decision: Factors to Consider: 1. Experience and Expertise in Ghanaian Payroll: Look for…

Payroll Outsourcing in Ghana – Part 1: Introduction, Benefit & Cost

Payroll outsourcing involves transferring the responsibility of managing your company’s payroll to a professional third-party provider. This includes tasks like calculating employee salaries, processing taxes and deductions, generating payslips, and ensuring compliance with Ghanaian regulations. Benefits of Outsourcing Payroll in Ghana: Cost Savings: Outsourcing eliminates the need for dedicated internal staff and resources for payroll functions. This translates to reduced…

payroll calculator in ghana

PAYE calculator for Ghana

Say goodbye to the days of tedious manual calculations and complex tax forms! Introducing the ultimate PAYE calculator for Ghana. This tool is designed to simplify your tax life and make it easier than ever to calculate your accurate PAYE deductions. Why Choose Our PAYE Calculator? Effortless and Accurate: Simply enter your basic salary and other relevant information, and our calculator will…

Top Payroll Apps in Ghana

Managing payroll in Ghana can be a complex task, but with the right tools, it doesn’t have to be. Here are five top payroll apps that can help you streamline your process and ensure accuracy: 1. BuiltPayroll: This cloud-based solution offers a user-friendly interface and comprehensive features, including payroll processing, tax filing, employee self-service, reporting and instant online payment of…

A Simple Payroll Services Guide for Ghanaian SME Owners

Introduction As a Ghanaian SME owner, managing your company’s payroll can be difficult, especially given the complexities of regulations and tax laws. However, keeping employees happy while remaining legally compliant requires accurate and timely payroll processing. This guide will walk you through the fundamentals of payroll services, providing valuable insights to help you streamline your payroll processes and keep your…

How to compute the new (2023) Employee Income Tax (PAYE) in Ghana [template provided]

The Income Tax (Amendment) Act, passed by Ghana’s Parliament in April 2023, amended the Income Tax Act. The act introduced revised income tax rates for individuals, a withholding tax rate on the realization of assets and liabilities, and an additional tax bracket. The amendment also included the introduction of minimum chargeable income, which could be linked to the increase in…

Payroll Accounting in Ghana

Payroll Accounting: What it is and how to do it properly

What is Payroll accounting? Payroll accounting is generally about properly accounting for salaries and wages of workers, taking into consideration the statutory obligations that arise and then making payments for them within the required time and with the right documentation. It hinges on 3 pillars: the terms of employment, the policies of the company, and the laws of the land.…