Taxation was introduced to the colonial Gold Coast in 1850 with the ratification of an Executive Council which was given the authority to recommend laws subject to the Governor's approval. In 1943 the first colony wide income tax was levied with the introduction of the Income Tax Ordinance. The ordinance was later rolled into the National Investment Bank Act of 1963 and repealed and replaced with provisions in a 1985 amendment.
August 20, 1943: Income Tax Ordinance is passed by Legislative Council