Gifts can be made during the property owner's lifetime.

Most property in Ghana can be freely donated to everybody during their owner's lifetime. The requirements are: the donor must be legal proprietor of the donation; the donor should be of the age, mental capacity and intention, and the donor should receive and accept the donation throughout the Donor's lifetime. used cars in qatar under 10 000

Household chattels may not be given to anybody except those used exclusively for commercial purposes, as they are reserved for surviving couples and children. The donation of property for the benefit of other people is restricted by law and is not in violation of co-ownership arrangements. In the case of a malicious donation, the surviving spouse, children or member of the family may appeal to the Court to reject the donation after the donor is dead.

Title deeds confer legally owned property, but trusts are recognized by Ghanese law as well.

Title Acts shall give the named individuals the legal title of property, but other persons, such as minors and other legally incompetent persons, can have equal interests, and trustees may have equal property interests for other persons. Where necessary, the Court shall look beyond title acts to establish property ownership.

The husband and wife's property rights are separate.

In Ghana, all properties acquired by spouses are not jointly owned and remain separate during their marriage.

If a husband buys an estate on his wife's behalf, his husband is supposed to have intended the estate as a gift to his wife. However, this may be rejected by compelling evidence that a gift was never intended and that the husband wished to maintain a positive interest. If a husband is able to show that he has made a substantial contribution on behalf of his wife to the acquisition of property, he may get the Court order stating his wife holds the title acts for the property in trust.

Minors are permitted to inherit property.

A trustee can be appointed to protect the interests of minors or non-legal people who have inherited property in Ghana by the testator. The Court may also appoint trustees to appoint property for minors and other legal incompetents.

Residents are taxed on their income worldwide

In general, married couples are taxed together but may elect separate taxation.

TAX INCOME

Taxable income shall include (1) income for employment, (2) income for business, (3) income for professional purposes, (4) income for investment and (5) other income. Tax on revenue is gradually levied and the tax ranges are updated every five years.

TAX INCOME

Taxable Tax Rate, HNL (US$)

Up to 116,402 percent (US$5,352)

116,402 - 200,000 USD (9,195 USD)

15 percent over US$5,352 on band

Two million - five hundred thousand (US$2,989)

20 percent over US$9,195 on band

About 500,000 (US$22,989) 25% of all income exceeding US$22,989

Source: Guide to Global Property

Residents have the right to the following deductions:

HNL40,000 (US$1,839) allowance for medical expenses

Donations to legally accepted state institutions, educational and sports institutions

RENTAL COMMISSION

Rental income is gradually taxed. Revenue-generating expenses may be deducted for the taxable income calculation.

CAPITAL TAX Winners

Residents' capital gains from the sale of real estate are taxed at a flat rate of 10 percent. The taxable profit is the gross sales price, lower acquisition costs and cost improvement.

Capital gains under HNL50,000 ($2,299), made by individuals who are residents from the sale of their principal residence are tax-free only if they are reinvesting their gains in a property which would serve as their principal residence. Profits above this threshold are taxable.

TAX PROPERTY

Immobilien Tax (Impuesto sobre bienes inmuebles)

Real estate tax is levied at progressive rates on all properties in Honduras. The base is the declared value of the property. Real estate tax for properties located in the Central District is charged at 5 percent.

The tax is levied gradually from HNL1.50 (US$0.07) to HNL5.00 (US$ 0.23) per thousand calculated for urban property value.

The property tax is levied gradually from HNL1.50 ($0.07) to HNL2.50 (US$0.12) per thousand calculated over the rural property value.

TAXATION CORPORATE

TAX INCOME

Companies' income is subject to a flat rate of corporate income tax of 25 percent. Taxable income is calculated by deducing gross income income expenditures.

CAPITAL TAX Winners

Company capital gains are taxed at a flat rate of 10 percent on capital gains. In the calculation of taxable capital gains, acquisition and improvement costs are deductible.