Bankers in Ghana are going to have one more thing on their plates to bother about very soon, as the Ghana Revenue Authority (GRA) has made known its plans to tax their clothing allowances.
The Ghana Revenue Authority (GRA) has in a letter sighted, asked the Ghana Banking Association to begin submitting the tax component of the clothing allowance of its members.
The letter read; “As was discussed in relation to taxation of Clothing Allowance paid by members of your Association, we wish to reiterate our position that clothing allowance unless it is reimbursable, is a taxable allowance.”
