Ghana, Mauritius sign Double Taxation Avoidance Agreement
Ghana and Mauritius have signed a treaty, the Double Taxation Avoidance Agreement (DTAA), to avoid or eliminate double taxation of the same income in the two countries.
The two countries also set up a permanent joint commission on bilateral cooperation as part of measures to facilitate trade between them.
Additionally, they have agreed to collaborate on an investment promotion and protection agreement to better channel investments into each other’s country, possibly via special investment zones.
The Foreign Affairs and Regional Integration Minister, Ms Shirley Ayorkor Botchwey, signed the agreement on behalf of Ghana, while the Minister of Foreign Affairs, Regional Integration and International Trade, Mr Seetanah Lutchmeenaraidoo, signed on behalf of Mauritius.
The DTAA is subject to ratification by Ghana’s Parliament.
The agreements were signed last Saturday at Port Louis, Mauritius, in the lead-up to the celebration of that country’s 49th Independence anniversary on Sunday, March 12, 2017.
Speaking at a joint press conference after the signing ceremony, Vice-President Alhaji Dr Bawumia, who was the special guest for the celebrations, explained that the agreements formed part of Ghana’s quest for greater cooperation with the rest of the world, especially Africa, in order to boost trade.
“We have seen the manifestation of the first fruits of this joint permanent commission with the signing of the historic double taxation agreement between Ghana and Mauritius, and we believe that this will provide a platform to give confidence to investors both in Ghana and Mauritius to undertake investments in our respective countries and not be taxed twice by our respective governments. We believe this is just the beginning of our cooperation,” Dr Bawumia said.
He underscored the need for greater intra-African trade to better improve the lives of Africans.
“Our government believes very strongly there has to be more trade within the African continent and among countries of the South. There has to be more investment, and more cooperation,” he said.
He was excited that the type of cooperation that Ghana sought with Mauritius was being manifested in the area of trying to set up Ghana as an International Financial Services Centre in the West African sub-region.
Investments in Ghana
The Prime Minister of Mauritius, Anerood Jugnauth, disclosed that a number of framework agreements had also been reviewed, including the setting up of a technology park at Dawa in the Greater Accra Region, and investments in the energy and tourism sectors.
“We have also agreed to pursue consultations on two project proposals submitted by Mauritius, namely, the setting up of solar energy power generation, and a tourism and hospitality project providing for the construction of a coastal resort in Ghana. Cooperation between Ghana’s Public Utility Regulatory Commission (PURC) and Mauritius was also discussed,” the Prime Minister said.
Ghan’s delegation included the Minister of Communication, Mrs Ursula Owusu-Ekuful, Minister of Business Development, Mr Mohammed Awal, the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre, Mr Reginald Yoofi Grant, and other senior government officials.