In our previous write-up, we focused on filing personal income tax (PIT) returns based on income from employment. However, personal income tax obligations extend beyond salaries and wages—any additional income from other sources must also be declared.
Your Responsibility to Declare Additional Income
With the rise of side hustles, freelance work, investments, and other earnings, many employees now have multiple streams of income beyond their primary job. While your employer provides tax details on your salary through the IT 51 and Form 2A, they are not responsible for reporting your extra income. It is solely your duty to declare these additional earnings when filing your PIT return on the GRA portal (DTO103 form).
What Counts as Income from Other Sources?
If you receive money outside of your salary, it is likely taxable. Here are some common examples:
✅ Business profits (from sole proprietorships or side businesses)
✅ Rental income
✅ Consultancy or freelance fees
✅ Dividends and investment returns
✅ Royalties and licensing income
✅ Any other self-employed earnings
Your employer only fulfills their statutory tax obligation by filing the Institution Summary of Annual Earnings and Taxes. However, this does not exempt you from filing your PIT return—whether you work in the private sector or on the government payroll.
Compliance: A Civic and Patriotic Duty
Filing your PIT return honestly and completely is not just a legal requirement—it’s a demonstration of integrity and patriotism. By declaring all income sources, you contribute fairly to national development and avoid potential penalties for underreporting.
Need
Assistance?
We are here to Help!
Navigating the tax filing process can be overwhelming, especially when dealing with multiple income streams.
Multisoft HR Services is ready to assist you with expert guidance to ensure a seamless and stress-free tax filing experience.
Empowered by Knowledge! Hear what participants had to say about their SAP Business One training…
We currently service over 400 Companies in Ghana and West Africa and employ in excess of 30 consultants mainly accounting professionals with sound IT knowledge.