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Kweku Ricketts-Hagan

Ghana has signed an agreement with Denmark to eliminate double taxation between the two countries.

The agreement will regulate the tax treatment of income or capital gains in situations whereby the same taxpayer is subject to tax in both countries with respect to the same income or capital gains.

Kweku Ricketts-Hagan, Deputy Minister of Finance, who signed on behalf of Ghana, said the partnership agreement was aimed at eliminating double taxation between the two countries.

?It would also help remove impediments that hinder the movement of capital goods for the promotion of international trade and foreign direct investment,? he added.

Ricketts-Hagan said double taxation agreement between the two countries would further improve the bilateral cooperation between the two countries.

He said despite Ghana?s middle-income status, it needs support for its development projects to alleviate poverty in the country.

Mogens Jensen, Minister of Trade and Development Cooperation, who initialed for Denmark, said the signing of the agreement was a good sign of strong cooperation between the two countries.

He said Denmark would continue to strongly partner Ghana in its quest to accelerate development and economic growth.

Ghana has double taxation agreements with eight countries, including Netherlands, Britain, France, Italy and Germany.

By Cephas Larbi

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