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The government has signed double taxation agreements with 10 countries to give investors a stable and favorable tax regime. The government hopes that the signing of such agreements will encourage investment and facilitate the transfer of skills and technologies.
The countries are Belgium, Denmark, France, the United Kingdom, Switzerland, Mauritius, South Africa, Italy, the Netherlands and Germany.
Mr. Eric Mensah, Assistant Commissioner for Legal Affairs and Treaties at the Ghana Revenue Authority, said the agreements were aimed at eliminating legal or economic double taxation.
The Economic Advisers Dialogue was organized by the Ghana Investment Promotion Center (GIPC) as part of its strategy to help businesses understand the basics of investing in the country.
He added that the government had signed similar agreements with Barbados, Seychelles, Singapore, Ireland, Malta, Qatar and Morocco, but that they had not yet been implemented.
"Ghana has also had talks with Iran, Norway, Luxembourg, Portugal, Korea, Saudi Arabia, Nigeria and the United Arab Emirates, but they have not still signed, "he added.
Ms. Naa Lamle Orleans-Lindsay, Head of GIPC's Legal Division, said the Center's mandate is to ensure that skills are transferred equitably to Ghanaians, when a company seeks to transfer skills and technologies. from abroad.
According to her, whenever a company needs to transfer technologies or skills, the GIPC is responsible for reviewing, recording, retaining records, monitoring and renewing them. application to ensure compliance with the law.
Ms. Orleans-Lindsay stated that for a technology and skills transfer company, it was necessary to ensure that the technology or skills in question were not freely and easily available locally.
According to her, under the country's Technology Transfer Agreements (TTAs), transfer fees to pay for the transferred technology must be made through a registered agreement and must also be applicable to Ghana's laws.
"Failure to register a TTA with the Center constitutes a violation of the GIPC Act 2013 (Act 865) and the Legislative Instrument (LI 1547), which is punishable by summary conviction. technology transfer fees to the transferor, "she added.
Mr. Laud Ofori-Afrifa, Deputy Comptroller General of the Ghana Immigration Service (GIS), stated that a work and residence permit for investors was currently being issued within seven days , but that he was aiming to reduce it to 24 hours by June 2019.
He added that the Service would soon establish a system for electronically linking investment promotion and regulatory agencies, including GIPC, the Free Zones Council and the Registry, to reduce the duration of the document processing.
Ofori-Afrifa said the GIS has taken steps to issue a longer-term residence permit to investors and key expatriates from two to eight years, depending on certain factors.
-GNA
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