In select sectors, companies can enjoy the advantage of applying a concessional income tax rate, rather than the standard Corporate Income Tax Rate of 25%. These preferential rates are automatically available, without the need for parliamentary approval. However, it’s important to highlight that in certain sectors, approval from the Commissioner-General of the Ghana Revenue Authority is necessary to harness these tax concessions.
| Industry | Concessionary Rate | Concessionary Period |
| Venture capital financing company | 5% | 10 years from the year in which the company first qualifies |
| Free Zone Company | Exempt | 10 years from the date of commencement of operation |
| Private Universities | Exempt | Indeterminate |
| Automobile Manufacturers and/or Assemblers of semi-knocked down vehicles | Exempt | 3 years from the date of commencement |
| Automobile Manufacturers and/or Assemblers of complete-knocked down vehicles | Exempt | 10 years from the date of commencement |
| Real Estate Investment Trust | Exempt | |
| Unit trust scheme or Mutual Fund | Exempt | 10 years |
| Low Cost affordable residential premises | 5% | 5 years |
| Rural Banking | 5% | 10 years from the year in which the business is established |
| Waste processing | 5% | 7 years from the year in which the business is commenced |
| Agriculture:
Tree Crops farming Livestock Farming (excluding cattle, fish or cash crop) Cattle farming Cocoa by-product business Agro processing business |
5% | 10 years from the year during which the first harvest of crops occurs |
| 5% | 5 years from the year in which commercial production commences | |
| 5% | 10 years from the year in which the business commences | |
| 5% | 5 years from the year in which commercial production commences | |
| 5% | 5 years from the year in which commercial production commences | |
| Young Entrepreneur Income | Exempt | 5 years |
Businesses that benefit from these concessions do not qualify for any other location incentives available to manufacturing businesses.
On the expiration of the 5-year initial concession period for all Agriculture businesses, the applicable income tax rate is determined by the location of the Agriculture business as follows:
| Location | Rate of Income Tax |
| Accra and Tema | 20% |
| Other Regional Capitals outside the Northern Savannah Ecological Zone | 15% |
| Outside other Regional Capitals | 10% |
| The Northern Savannah Ecological Zone | 5% |
Manufacturing Business Incentives
| Location | Rate of Income Tax |
| Manufacturing business located in the regional capitals of the country (excluding Accra) | 75% of the rate on income tax |
| Manufacturing business located elsewhere in the country (excluding Tema) | 50% of the rate of income tax |
