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Ghana: Budget for 2017 — business and investment

On 2 March 2017, the Minister of Finance presented the Budget for 2017 to Parliament. The budget proposed the following tax measures with respect to business and investment as summarized below.

Business and investment

  • Initiate steps to remove import duties on raw materials and machinery for production within the context of the Economic Community of West African States (ECOWAS) Common External Tariff
  • Require that at least 70% of government projects and procurements be executed by local corporations and enterprises over time
  • Introduce and enforce a local content policy for government projects and procurements
  • Encourage a capital market local content policy that enjoins companies operating in the energy, oil and gas, financial services, telecommunications, and mining sectors to list a minimum percentage of their shares on the Ghana Stock Exchange within five years of commencing operations
  • Establish an airport free zone in partnership with the private sector

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