Skip to main content

Ghana and Republic of Ireland sign Agreement for the Avoidance of Double Taxation

Ghana and Republic of Ireland sign Agreement for the Avoidance of Double Taxation

Accra February 7, 2018 - The Minister of Finance, Ken Ofori-Atta has reiterated the need for cooperation and knowledge sharing between Ghana and Ireland, especially in the area of education, communication technology, financial services, and health care. This, he said was “key in rationalizing the Ghana beyond aid Agenda”.

The Minister for Finance made these remarks at the signing of the agreement, for the avoidance of Double Taxation, on income earned in both countries.

The Minister of Finance, Ken Ofori-Atta, signed for Ghana and the Irish Ambassador in charge of Nigeria, Ghana, and Senegal, Ambassador Seán Hoy, initialed for the Government of Ireland.

Ken Ofori-Atta, highlighted the need for partnership and knowledge sharing in the area of government and labour relationships. On Development Assistance, he said contributions to the economy had declined from 16% to 2.2% of GDP currently.

Ambassador Seán Hoy, on his part said that Ghana was chosen for the first DTA in the West African sub-region, because of its position as an important market and business hub.

Currently, Ghana is the sixth largest market in West Africa for Irish food and drink exports. Bilateral trade between Ireland and Ghana totaled Euro 43.4 million in 2016. It also remains a strategic market for Irish companies in West Africa, mainly in the food and beverage sector.

Ghana currently has nine Double Tax Agreements (DTAs) with Belgium, Denmark, France, Germany, Italy, Netherlands, Switzerland, South Africa, and United Kingdom.

The signing was witnessed from the Irish side by Joseph Kennedy, Deputy Head of Mission, Embassy of Ireland in Nigeria, Awele Oguejiofor, Economic Development Officer, Embassy of Ireland in Nigeria), Eibhlín Ní Chléirigh, President Business Ireland Ghana, and Pearse Corbet, ESB International. Also present were Charles Adu Boahen, Deputy Minister of Finance, Anthony Dzadzra, Director Revenue Policy Division as well as other officials from the Ministry of Finance. END