write up on foreign income tax

In today’s Friday read, we will discuss briefly what the taxable foreign income entails.
Section 103 (1) of the Income Tax Act 2015, (Act 896) states that, where the income of a person employed is derived from a source outside of the country and a source that is in the country, the income of that person derived from the source in the country shall, be calculated separately from the income of that person derived from the source outside of the country.
This means that if you are a Ghanaian living in Ghana and your source of income is derived from another country, that income will not be taxed in Ghana unless you have another income that is derived from Ghana. The essence of this provision is to prevent double taxation.