Ghana and Germany to team up on transfer pricing
November 16, 2011
Sophie Ashley - TPW
Ghana is moving towards implementing a transfer pricing regime with the help of a German development agency.
The Ministry of Finance in Ghana is determined to crackdown on profit shifting to lower tax jurisdictions and has announced that it is working with GIZ, a German economic development agency, to provide draft guidance on transfer pricing.
"GIZ on behalf of the German Ministry of Development Cooperation (BMZ) supports the Ghanaian Ministry of Finance and the Ghana Revenue Authority to widen the tax net, improve revenue collection and make Revenue Authority more costumer friendly. In this regard GIZ supports the development of a transfer pricing regime in Ghana according to international (UN, OECD) standards that also provide legal certainty on this issue for Foreign Investors," said a GIZ spokesman.
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