Ghana announced that it is negotiating to establish income tax treaties with Hungary, Israel, UAE, Korea, and Egypt.
Daniel Nuer, Head of the Tax Policy Unit at Ghana’s Ministry of Finance, revealed that the Ministry plans to implement approximately 36 additional Double Taxation Agreements, expanding upon the 14 ongoing agreements in Ghana.
Once in effect, these treaties will offer relief from double taxation, lower tax rates through negotiated agreements, grant exemptions to companies like foreign airlines and shipping firms, and facilitate dispute resolution through the Mutual Agreement Procedure (MAP), among other benefits.
Any tax treaties resulting from these negotiations will be the first between Ghana and the respective countries. They must be finalised, signed, and ratified before taking effect.
