News:
May 17, 2018
The Minority in Parliament have raised red flag over Double Taxation Agreements (DTAs) that have been laid on the floor of the House on Tuesday the 15th of May 2018 pointing out that it would not benefit us as a country.
Dr. Anthony Osei Akoto, the Minister of Monitoring and Evaluation laid the agreement with four countries on behalf of the Finance Minister, Ken Ofori-Atta on the floor of the House.
The agreement between the Government of the Republic of Ghana and the Czech Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital Gains.
Convention between the Government of the Republic of Ghana and the Government of the Kingdom of Morocco for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital Gains;
Also agreement between the Government of the Republic of Ghana and the Government of the Republic of Mauritius for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital Gains.
And agreement between the Government of the Republic of Ghana and the Republic of Singapore for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital Gains.
In an interview with the media after adjournment on Tuesday, Ranking member of the Finance Committee, Ato Forson wanted government to come clean on the agreements before they would give their support for its approval.
They want the government to tell them the quantum of the investment of the four countries seeking for double taxation with the Republic of Ghana as well as the names of Ghanaian investments in those countries.
“Singapore and Mauritius for instance are tax havens for certain offshore entities, so they go there and their intention is to come and invest in this country and to cream off the taxes so that they are going to exempt them from taxes base on that. I want the government to come clean on this matter what is their motivation in rushing to Parliament to seek for approval of double taxation for four different Countries”? Cassiel Ato Forson questioned.
He added that he want government to estimate the fiscal cost of the state and give the Minority evidence that Ghanaian businesses are also going to benefit from the said countries and is not going to be done in a way for small individuals and companies to benefit from.
Forson, further revealed that the NDC MPs would in the coming days scrutinize the agreements in such a way that the ordinary Ghanaian will benefit from them.
“We think that if we are to conclude that it is in the interest of this country, we shall support the government to approve it. But if we are not convinced that these agreements are in the interest of this country, I beg to say that we will oppose it with all the vim in us because clearly, our responsibility is to keep the government on its toes to make sure that they are doing what is right’, he emphasized
By: Kwaku Sakyi-Danso/ghanamps.com