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Ratification of the Double Taxation Agreement between Ghana and Denmark

27.08.2015  10:44

The Ghanaian government has ratified the agreement between Ghana and Denmark for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains.

A double taxation agreement regulates the tax treatment of income or capital gains in situations where the same taxpayer is subject to tax in two states, with respect to the same income or capital gains. It is thus expected that the ratification will also prevent a situation where revenue is transferred from one treaty partner to another, for example by the issuance of tax incentives. Thus, it’s an important agreement for Danish as well as Ghanaian companies in the sense of attracting foreign direct investments. The DTA comes into effect in January 2016 after the last notification by any of the countries. When the agreement has come into effect, Denmark will be among nine countries to have signed a double taxation agreement with Ghana. 

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