Double taxation agreements (DBAs) are contracts between two or more countries to avoid international double taxation between income and wealth. The main objective of the DBA is to distribute the right of taxation among the contracting countries, to avoid differences, to guarantee equal rights and security of taxpayers and to prevent tax evasion. The government has signed double taxation agreements with ten countries to provide investors with a stable and favourable tax system. „Ghana had also held discussions with Iran, Norway, Luxembourg, Portugal, Korea, Saudi Arabia, Nigeria and the United Arab Emirates, but they have yet to sign an agreement,” he added. It stated that, under the country`s Technology Transfer Agreements (ATTs), the transfer fees for the transferred technology must go through a registered agreement and apply to The laws of Ghana. „The failure to register a TTA with the Centre is a violation of the GIPC Act 2013 (Law 865) and the legal instrument (L.I 1547) which is the subject of a summary conviction and that this company that has not registered its TTA cannot transfer rights and royalties with respect to the technology transferred to the right-handing person,” she added. Mr. Laud Ofori-Afrifa, the Deputy Comptroller General of the Ghana Immigration Service (GIS), said that the investor work and residence permit was currently issued within seven days, but indicated that it would be reduced to 24 hours by June 2019. To qualify for tax benefits in Iceland under the DBA concluded, a foreign taxholder in the other contracting country must be subject to a full and unlimited tax liability with respect to permanent residence or other circumstances. Article 22 (Various Rules for Certain Offshore Activities) provides that a stable establishment is considered constituted when a company engages in offshore activities related to the exploration or exploitation of the seabed and seabed and their natural resources in a State party, when such activities continue for a period or periods that interact for more than 90 days within 12 months. In determining whether the 90-day threshold is exceeded, it takes into account, for the most part, the similar activities of an associated business in a contracting state. Creating a joint venture or a single company in a foreign state or investing internationally can pose a number of challenges for companies. What matters is the threat of taxes in both countries or countries – it is the risk of double taxation.
Please see a link to the agreement (English version) or (Danish version) We can provide current and historical tax rates, comparison tables and country surveys via our specialized tax databases. We have current key summaries and detailed analysis of the tax system in countries around the world on corporate taxation, individual taxation, business and investment. Tax benefits granted under the DBA for payments can be granted in two ways. On the one hand, there may be a tax exemption or a reduced rate for corresponding payments. On the other hand, it may result in the refund of deductions deducted. „In Ghana, we know that things are working and we wanted to reach this agreement in order to take a very important step for Ireland to intensify trade with West Africa,” he said. Tax Information Guide: Africa`s Leading Economies 2018 Overview of the Tax and Investment Environment in 44 African countries, including Africa.