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16 May 2018 | Business & Finance

Benefits From Five Taxation Agreements Questionable

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Benefits From Five Taxation Agreements Questionable

The Minority in Parliament has expressed reservation about the benefits that the country is to derive from four double taxation agreements (DTAs) Ghana is entering into with four other countries.

According to the Minority Members of Parliament(MPs), the DTAs between Ghana and the Czech Republic, the Kingdom of Morocco, Mauritius and Singapore, which were laid in Parliament Tuesday, May 14, 2018, would not help advance the cause of Ghana.

Speaking to journalists moments after the Minister of Monitoring and Evaluation, Dr Anthony Akoto Osei had laid the agreements in Parliament for approval, the Ranking Member on the Finance Committee and Minority Spokesperson on Finance, Mr Cassiel Ato Forson, said the laying of the four DTAs in a day was unprecedented in the history of Ghana’s Parliament.

He said the Minority in Parliament was at a loss as to why the government should lay four DTAs in a day.

The DTAs between Ghana and the Czech Republic, the Kingdom of Morocco, Mauritius and Singapore, are for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital gains.

No mutual benefits
Mr Forson said DTAs were for mutual benefits but indicated that on the face of the current DTAs, they did not offer any benefits for Ghana.

He said it was important for the government to establish the quantum of trade in the four countries vis-a-vis the level of trade in Ghana before going into the agreement.

Mr Forson said the Minority would scrutinise the agreements, and indicated that if it turned out that the agreements were not in the interest of Ghana, it would oppose them.

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