x

The Exchange of Tax Information Portal is an initiative of the Global Forum on Transparency and Exchange of Information for Tax Purposes. The Global Forum conducts peer reviews of its member jurisdictions' ability to co-operate with other tax administrations in accordance with the internationally agreed standard. The standard provides for exchange of information on request where it is foreseeably relevant to the administration and enforcement of the domestic tax laws of the requesting jurisdiction. Effective exchange of information requires that jurisdictions ensure information is available, that it can be obtained by the tax authorities and that there are mechanisms in place allowing for the exchange of that information. The Global Forum's peer review process examines both the legal and regulatory aspects of exchange (Phase 1 reviews) and the exchange of information in practice (Phase 2). The EOI Portal will track the development of these peer reviews, including changes that jurisdictions make in response to the Global Forum's recommendations.

Peer Review: Ghana Second Round Review (2018)

This report for Ghana has been published on 4 Apr 2018. You can browse it online below.

Skip directly to the Executive Summary. You may also want to view the tables of determinations and ratings.


loading...


Determinations and Recommendations

Jurisdictions should ensure that ownership and identity information for all relevant entities and arrangements is available to their competent authorities. (ToR A.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Partially Compliant.  While Ghana has reported an annual filing rate with the RGD of 70% in the review period, there is significant proportion of companies (30%) that have not filed. In addition, there is a high proportion (26%) of companies registered with the Registrar that are not registered with the GRA.  Ghana is recommended to take appropriate measures to monitor and enforce the compliance with the legal requirements to file annual returns with the Registrar and therefore have a more accurate overview on the number of companies which are active or have commenced business. 
While the availability of beneficial ownership of companies during most of the review period could not be assessed in Ghana, Ghana introduced legal amendments to its Companies Act in August 2016 requiring all companies to maintain a register of beneficial ownership information. It is not clear whether the monitoring of the new requirements has started. Whilst the RG-D commenced onsite visits at the end of the review period, no information on the findings of those visits regarding the maintenance of ownership information by companies was provided.   Ghana is recommended to monitor the implementation of the legal requirements in the Companies Act requiring companies to maintain beneficial ownership information as well as the implementation of the Central Register with beneficial ownership information 
Jurisdictions should ensure that reliable accounting records are kept for all relevant entities and arrangements. (ToR A.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
Banking information should be available for all account-holders. (ToR A.3)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
Competent authorities should have the power to obtain and provide information that is the subject of a request under an exchange of information arrangement from any person within their territorial jurisdiction who is in possession or control of such information (irrespective of any legal obligation on such person to maintain the secrecy of the information). (ToR B.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The rights and safeguards (e.g. notification, appeal rights) that apply to persons in the requested jurisdiction should be compatible with effective exchange of information. (ToR B.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
Exchange of information mechanisms should provide for effective exchange of information. (ToR C.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdictions' network of information exchange mechanisms should cover all relevant partners. (ToR C.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdictions' mechanisms for exchange of information should have adequate provisions to ensure the confidentiality of information received. (ToR C.3)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.  Some of the EOI requests received by Ghana were kept by the former competent authority during the period under review, he was still under the oath of secrecy and no breach took place during the period under review.  Ghana should ensure that its organisational processes and procedures are adequate to ensure the confidentiality of all information received from EOI partners. 
The exchange of information mechanisms should respect the rights and safeguards of taxpayers and third parties. (ToR C.4)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdiction should provide information under its network of agreements in a timely manner. (ToR C.5)
Determination Factors Recommendations
The assessment team is not in a position to evaluate whether this element is in place, as it involves issues of practice that are dealt with in the Phase 2 review.      
Phase 2 Rating Factors Recommendations
Non-Compliant.  Over the review period, eight requests were sent to Ghana. Four of those requests arrived at the GRA between March and September 2016 but were only delivered to the EOI Unit in January 2017 leading to considerable delays in practice in providing the requested information.   Ghana is recommended to revise its internal EOI processes for the receipt of EOI requests to ensure that all requests are processed and responded to in a timely manner. 
Of the five requests processed by Ghana over the review period, responses were provided between 180 days and one year in one case and in the other four cases responses took more than one year despite the fact that the information was held by the tax authority or another public administration (the Registrar), indicating systemic issues with the organisational processes in terms of non-adherence to the procedures of EOI Manual.  Ghana is recommended to revise its internal process within the GRA for processing EOI requests to ensure that all information is provided to the EOI Unit in a timely manner. 
During the three-year review period, Ghana did not provide a status update to its EOI partners within 90 days except in one case.  Ghana should provide status updates to its EOI partners within 90 days in line with the standard.