Countries Ghana Has Double Taxation Agreement With
She said that under the country`s Technology Transfer Agreements (ATAs), the transfer fee for payment of the transferred technology must be made through a registered agreement and must also apply to the laws of Ghana. “The failure to register an TTA with the Centre is a violation of the GIPC Act 2013 (Act 865) and the Legislative Instrument (L.I 1547), which is accompanied by a summary conviction, and this company that has not registered its TTA cannot transfer fees and charges to the user of the transferred technology,” she added. Laud Ofori-Afrifa, the Deputy Comptroller General of the Ghana Immigration Service (SIG), said the work and residence permit is currently issued by investors within seven days, but is working to reduce it to 24 hours by June 2019. In order to benefit in Iceland from tax advantages under the DBA concluded, a foreign taxable person in the other Contracting State must be subject to total and unlimited tax in respect of his permanent domicile or other circumstances. Both countries use the imputation method to eliminate double taxation. In addition, both countries grant a credit for taxes on profits whose dividends are paid if the company receiving the dividends holds at least 10% of the capital of the paying company. Eric Mensah, the Ghana Revenue Authority`s Commissioner for Legal Affairs and Contracts, told the Economic Counsellors` Dialogue that agreements are usually signed with the aim of eliminating legal or economic double taxation. He said the government had signed similar agreements with Barbados, the Czech Republic, Seychelles, Singapore, Ireland, Malta, Qatar and Morocco, but they had not yet been implemented. The contract applies to Ghana from 1 January 2020. It applies to withholding taxes from 1 January 2020 and to other taxes from 1 January 2021. Article 27 (exchange of information) applies to both countries from 1 January 2020.
PKF Africa Tax Guide 2018-19 Overview of tax and corporate regulatory systems covering major commercial areas in the region. The guides highlight taxes payable, determining taxable income, foreign tax breaks, withholding tax rates and other issues. Published by PKF in May 2018. Iceland has several tax agreements with other countries. Natural persons permanently resident and subject to full and unlimited tax in one of the Contracting States may be entitled, in accordance with the provisions of the respective conventions, to an exemption/reduction from the taxation of income and capital, without which income would otherwise be subject to double taxation. Each agreement is different and it is therefore necessary to review the agreement in question in order to determine where the tax debt of the person concerned really lies and what taxes the agreement provides. The provisions of tax treaties with other countries may lead to a limitation of Icelandic tax legislation.. .