Ghana tries to balance its tax system for business and social needs

A woman sells chocolate sweets on a Ghana street
Accra, Sept. 2, 2015: A chocolate seller in Ghana; a business-friendly, moderate tax regime plays a pivotal role in the nation’s development strategy (source: dpa)

  • By international standards, income taxes in Ghana are moderate and its stable social security system has a good reputation
  • In 2006, corporate income tax in Ghana was reduced from 32.5 percent to 25 percent; significant tax breaks are offered to select industries and investment outside big cities
  • For the first 10 years of operation, companies in “industrial free zones” are exempt from corporate taxes

Ghana, the first sub-Saharan country to gain independence from European colonization in 1957, today is a multicultural democracy of some 27 million with one of Africa’s more diversified economies. The country’s generations-long quest to create a balanced tax regime helpful in attaining both developmental and social goals has scored notable successes and telling failures.

Not a subscriber yet?

Subscribe now and get the latest in-depth geopolitical analysis and forecasts from GIS’s unrivaled cadre of experts.

Learn more about our subscription plans.

You can also buy this report for €8.99 Buy

Add your comment