Ghana's new tax policy with Germany-Who gains and who loses?

Gina

http://www.ghanatoday.com/index.php?option=news&task=viewarticle&sid=206...

Thinfox, thanks for bringing this up in your post. If you work or have a business in country A, you should pay your income tax and corporate tax to country A. What does Ghana gain from this tax agreement with Germany? For a country that depends so much on foreign aid we should not be making such agreements without having national dialogues and doing extensive research. I wonder if this was debated by the MPs in Parliament. Anyway, who makes tax policies? Executive or Legislative branch of gov't?
"The convention, in the case of Ghana covers Income Tax and Capital Gains Tax and in the case of the Federal Republic of Germany; the Income Tax, The Corporate Income Tax, the Trade Tax and the Capital Tax."
How come Corporate tax and Trade tax are not included in the case of Ghana? Ghanaian businesses in Germany will be paying corporate taxes to the German gov't but German businesses in Ghana won't be paying corporate taxes to the Ghana gov't. Is this a fair agreement? We should bear in mind that corporate taxes make up a huge portion of our tax revenues. Did the Minister of Finance do extensive research before signing this agreement? Did they ask these questions: How many Ghanaians and Ghanaian businesses are in Germany and how much money are they making/generating as compared to Germans and German businesses in Ghana? If Ghanaians in Germany decide to pay their income taxes to the GH gov't, how-where-when are they going to pay? What are the tax refund policies? If there's no income tax refunds in Ghana, I bet Ghanaians in Germany would rather pay their taxes to the German gov't and the GH gov't would lose. Seriously, who are the advisors of the Finance minister? How many bad deals are we going to make? Today it's Germany, tomorrow it'll be Lebanon. These are the things that make you go hmmmmm and ask ebe ye yie ni?

Submitted by Gina on Thu, 01/18/2007 - 01:46.

Comments

OMANBA

WHO MAKES TAX POLICIES?

Who makes tax policies amonsgt other policies in Ghana...the executive or the legislature? Good question!
The way i see it organs of government in Ghana are not the seperate entities they are meant to be. They are like triplets linked by one umbilical cord, for when you take all the big shots at the helm of affairs in each section they all live in the pockets of each other and are one hell of a SILENT BROTHERHOOD. None of them will seek to rock the boat.

Even the office of the Ombudsman which is supposed to take up citizens grievances against organs of government is not as Independent as it should be.
And the press on the inside are lap dogs licking their masters feet and chewing cast off bones and those who are on the opposing side alas can only stand outside the walls of this close knit FORT KNOX of policy makers and bark themselves hoarse.
As for the opposition, well they are just two-faced hypocrites who just want to wrestle and get a slice of the cake themselves.

In the end what we get in Ghana is the absence of checks and balances in government and a misrepresentation of what citizen's real wishes are. The Executive gets to crack the whip and all tow the line.

THE CRINGE FACTOR! WHAT MAKES YOU THINK THAT GOD MADE THREE WORLDS AND THAT I COME FROM THE THIRD WORLD. THE ISSUE OF RACE IS GEOGRAPHICAL AND NOT A STATUS SYMBOL AND NEITHER IS MY SKIN BLACK NOR YOURS WHITE.

Thu, 01/18/2007 - 07:37

thinfox

Ghanaians in Germany

that was the question i kept asking myself. how many ghanaians in germany are allowed to work legally, let alone own a company in germany? according to the article, our government is about to sign similar agreements with a bunch of other countries as well. what's gonna happen is that small and medium sized businesses are going to be squeezed out to offset the difference in taxes. this is not smart.

Thu, 01/18/2007 - 13:08

Gina

Bad Deals

When are we going to look out for our interests? We keep begging but we don't have to if we make the right decisions. With all our resources,we depend heavily on foreign aid. Our elected officials have no sense of shame and no pride. From HIPC, AngloAshanti deal,Free trade with China, to this INSANE tax policy, this country is making serious mistakes that would affect our economy now and in the future. With these bad agreements/policies, we'll forever be poor. How long will this stupidity go on?

LET US INVEST IN OUR COUNTRY.LET'S BUILD OUR BUSINESSES & INDUSTRIES (SMALL,MEDIUM,BIG). LET'S PROTECT OUR NATURAL RESOURCES. LET'S SPEAK UP! LET'S CHALLENGE THE STATUS QUO.TOGETHER WE CAN MAKE GHANA A BETTER PLACE.YEN ARA Y'ASASE NE! GOD BLESS GHANA!

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