Legally Save Money with GRA-Approved Expenses
Running a business in Ghana is tough enough—why pay more taxes than you should? Many SMEs overlook deductible expenses, leaving thousands of cedis on the table.
The Ghana Revenue Authority (GRA) allows certain business costs to be deducted from taxable income, legally reducing your tax bill. But if you don’t claim them properly, you’re essentially giving away free money!
Here’s a list of often-missed deductible expenses (fully compliant with GRA laws) + how to document them correctly:
💡 Top Overlooked Tax-Deductible Expenses for Ghanaian SMEs
1. Home Office Expenses
What’s Covered? If you work from home, a portion of rent, utilities (electricity, water, internet), and even repairs can be deducted.
GRA Compliance: Must be exclusively for business use (keep bills and a simple workspace log).
2. Staff Training & Development
What’s Covered? Workshops, online courses, and certifications that improve employee skills.
GRA Compliance: Must be directly related to your business (keep receipts and training agendas).
3. Business-Related Travel
What’s Covered? Fuel, transport fares, and accommodation for business trips within Ghana.
GRA Compliance: Must have a clear business purpose (log dates, destinations, and meetings).
4. Marketing & Branding Costs
What’s Covered? Social media ads, flyers, business cards, and even influencer collaborations.
GRA Compliance: Must be for business promotion (keep invoices and ad performance reports).
5. Bank Charges & Loan Interest
What’s Covered? ATM fees, transfer charges, and interest on business loans.
GRA Compliance: Must be from a registered business account (use separate bank statements).
6. Depreciation of Business Assets
What’s Covered? Laptops, machinery, vehicles—you can deduct a portion of their value yearly.
GRA Compliance: Follow GRA’s depreciation rates (keep purchase receipts and asset register).
7. Professional Fees (Lawyers, Accountants, Consultants)
What’s Covered? Fees paid to auditors, tax consultants, and legal advisors.
GRA Compliance: Must be for business-related services (keep signed contracts and receipts).
8. Bad Debts (Unpaid Customer Invoices)
What’s Covered? If a client refuses to pay after all efforts, you can write it off.
GRA Compliance: Must show proof of follow-up (emails, demand notices).
