The Clothing allowance of bankers in the country is now subject to taxation, the Ghana Revenue Authority (GRA) has said.

According to a letter addressed to the Banking Association and sighted by Kasapa News noted an agreement has been reached over the move between the two bodies.

“As was discussed in relation to taxation of clothing allowance paid by members of your Association, we wish to reiterate our position that clothing allowance unless it is reimbursable, is a taxable allowance”.