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Ghana signs double taxation agreement with Czech Republic

Berlinda Entsie

Ghana has signed an agreement with the government of Czech Republic to ensure that its investors will not be taxed twice by the two countries.

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The Minister for Finance, Ken Ofori Atta, and the Czech Ambassador to Ghana, Margita Fuschova, signed on behalf of both countries.

The agreement gives investors a stable and predictable tax environment and consequently, will encourage investments in both countries.

READ ALSO: Here are the countries Ghana has signed Double Taxation Avoidance agreements with

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It will also eliminate the incidence where income from both countries are taxed twice and as well as increase Ghana’s Exchange of Information network, which allows treaty partners to exchange information in order to mitigate tax risk and tax evasion across borders.

In addition, tax evasion through the mutual assistance in the collection of taxes will also be reduced.

Furthermore, cross border trade and investments between the two countries by the elimination of tax impediments will be greatly enhanced.

The agreement will also foster diplomatic and other relations between the two countries.

READ ALSO: Ghana signs Double Taxation Agreement with Mauritius

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This agreement has been entered to by both countries for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income.

The Minister for Finance expressed the hope that diplomatic and economic ties will improve with the signing of this agreement.

The Czech Ambassador also expressed similar sentiments saying she looked forward to improving relations between the two countries reminiscent to the 1960’s

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Berlinda Entsie Berlinda Entsie Berlinda Entsie a reporter at Pulse.com.gh/bi/. She reports on all your business related issues and always ready to promote your business through amazing reportage.

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