Ghana Tax Articles & Analysis

Chapter | Tax from The Report: Ghana 2019

In conjunction with PwC, this chapter explores the taxation system and Ghana’s efforts to build an investor-friendly environment. This chapter contains a viewpoint with George Kwatia, Tax Partner, PwC Ghana.

Ghana continues to be one of the most stable countries in sub-Saharan Africa and has developed substantially over the years. Now one of Africa’s fastest-growing economies, the country is starting to move away from traditional resource dependency. However, it faces the challenge of ensuring the widest benefit from that expansion, given its growing and increasingly urbanised population.

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Tax compliance is central to the government’s agenda in 2019. The minister of finance indicated in the 2019 budget that the government would focus its revenue mobilisation efforts on reforming revenue institutions, intensifying compliance measures and broadening the tax net. However, we must work towards ensuring that compliance is less...

 

The tax system underwent several significant changes in 2018, and the government budget for 2019 seeks to consolidate and make additions to those changes, with its agenda focused on compliance. The key updates to the tax codes in 2019 will be as follows:

 

From 2014 to 2016 the administration made significant changes to the tax regime. Most of the tax laws were either revised or replaced with new legislation. Having made significant changes to tax laws during that period, the government is now focusing on widening the tax net to capture revenue from individuals and businesses operating in the...

Ghana continues to be one of the most stable countries in sub-Saharan Africa and has developed substantially over the years. Now one of Africa’s fastest-growing economies, the country is starting to move away from traditional resource dependency. However, it faces the challenge of ensuring the widest benefit from that expansion, given its growing and increasingly urbanised population.

 

M&A can be an important tool to build scale, improve performance or remove excess industry capacity, and can fuel long-term, profitable growth. While not all M&A deals add value, failures should not necessarily discourage companies from pursuing them. Well-developed due diligence, valuation and integration capabilities can anchor an...

 

Over the past year a major policy direction of the government has been enhancing domestic tax revenue mobilisation while promoting business growth. Accordingly, the 2018 budget statement and economic policy highlighted a number of tax policy proposals, which are focused mainly on promoting tax revenue generation and incentivising businesses in...