GHANA has signed the Convention on
Mutual Administrative Assistance in Tax Matters, a multilateral agreement
developed jointly by the Council of Europe and the OECD. Ghana is the second
African country, after South Africa, to sign the Convention since it was opened
for signature to all countries in June 2011.
The Convention is the most
comprehensive multilateral instrument available for tax co-operation and
exchange of information. It helps counter cross-border tax evasion and ensures
compliance with national tax laws, while respecting the rights of taxpayers. G20
Leaders, “strongly encourage[d] all jurisdictions to sign the Multilateral
Convention on Mutual Administrative Assistance” at their Los Cabos
Summit.
Signing the Convention, Ghana’s Deputy Minister of Finance, Seth
Terkper, noted that “Ghana appreciates the present cordial relationship with the
OECD and will adopt the exchange of information mechanism to reduce tax evasion
and avoidance of MNES and thereby raise more tax revenue to fund development
projects.”
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