In conjunction with Deloitte Ghana, this chapter contains an introduction to Ghana’s taxation system, including a breakdown of rates imposed on corporate income, regulations governing capital gains and double taxation, and a list of goods and services exempted from value-added tax.
This chapter contains a viewpoint from Charles Larbi-Odam, Country Executive, Deloitte Ghana.
Since assuming power in January 2017 the administration of President Nana Akufo-Addo has moved to rein in fiscal spending, industrialise rural regions and improve the business environment in order to jump-start economic growth. The government has brought down the fiscal deficit and freed up capital spending for priority projects, and Ghana’s economic prospects appear strong for 2018.
VAT is a tax on the consumption of goods and services borne by the final consumer. Based on the self-assessment mechanism, VAT is collected by businesses at each stage of the production and distribution chain, with a credit for VAT incurred on inputs.
Saudi Arabia is ranked 10th out of the G20 countries for ease of paying taxes, a notable achievement for a country with a GDP of over $650bn. With due care and commitment to compliance, businesses can enjoy the advantages of the Kingdom’s tax system.
This chapter contains an overview of the tax framework in which local and foreign investors operate in Saudi Arabia including an explanation of the Value-added tax introduced on January 1, 2018, a summary of the parallel systems for zakat and corporate income tax, and a rundown of the taxation treaties in place to help promote foreign investment.
This chapter contains a viewpoint...
2017 proved a momentous year for the Kingdom of Saudi Arabia as the various strategies related to the country’s Vision 2030 and National Transformation Plan 2020 started to take shape.
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