Daily Archives: January 24, 2020

PERSONAL TAX – Allowable deductions for life and private medical insurance premiums, contributions to social insurance, pension and provident funds, and, contributions to GHS.

As per the Tax Department’s announcement on 07 January 2020, according to the amendment law N173(I)/2019 as approved by the Parliament and with effect from 19 December 2019, the combined Personal Tax allowable deductions limit for the above listed payments is increased to 1/5 of the net taxable income* of the individual. Note that a

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