GRA to begin taxing clothing allowance for bankers

The Ghana Revenue Authority (GRA) has directed the Ghana Banking Association to begin submitting the tax component of the clothing allowance of its members.

“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,” the GRA said in a letter to Ghana Banking Association.

Read the full letter below.