2020 Ghana-Norway Income Tax Treaty Available

<p>Tax Analysts has obtained the English text of the Ghana-Norway income tax treaty signed November 20, 2020, in Accra.</p> <p>Under the treaty, dividends are taxable at a maximum rate of 7 percent if the beneficial owner is a company (other than a partnership) that directly holds at least 10 percent of the capital of the payer company for a 365-day period that includes the date of payment of the dividends. A 15 percent rate applies in other cases.</p> <p>Interest is taxable at a top rate of 7 percent. However, interest is exempt from tax in the state in which it arises if the recipient is the beneficial owner and:</p> <ul> <li>the payer or the recipient of the interest is the government of that state; a public body, political subdivision, or local authority thereof; or its central bank; or</li> <li>the interest is paid in connection with a loan granted, approved, guaranteed, or insured by the government or central bank of a contracting state, or any agency (including a financial institution) of a contracting state owned or controlled by that state.</li> </ul> <p>Royalties are taxable at a maximum rate of 10 percent. Both countries generally apply the credit method to eliminate double taxation.</p> <p>This is the first tax treaty between Ghana and Norway since the 1951 Norway-U.K. tax treaty was extended to Ghana in 1955 and later terminated. It will enter into force upon the exchange of ratification instruments, and its provisions will generally apply from January 1 of the year following entry into force.</p>

<p><a href="/lr/resolve//2l694">Norwegian text</a>. <a href="/lr/resolve//1x69p">1951 Norway-U.K. tax treaty</a>. <a href="/lr/resolve//2d90l">Prior coverage</a>.</p>

<p>Tax Analysts has obtained the English text of the Ghana-Norway income tax treaty signed November 20, 2020, in Accra.</p>

Tax Analysts has obtained the English text of the Ghana-Norway income tax treaty signed November 20, 2020, in Accra. Under the treaty, dividends are taxable at a maximum rate of 7 percent if the beneficial owner is a company (other than a partnership) that directly holds at least 10 percent of the capital of the payer company for a 365-day period that includes the date of payment of the dividends. A 15 percent rate applies in other cases. Interest is taxable at a top rate of 7 percent. However, interest is exempt from tax in the state in which it arises if the recipient is the beneficial owner and: the payer or the recipient of the interest is the government of that state; a public body, political subdivision, or local authority thereof; or its central bank; or the interest is paid in connection with a loan granted, approved, guaranteed, or insured by the government or central bank of a contracting state, or any agency (including a financial institution) of a contracting state owned or controlled by that state. Royalties are taxable at a maximum rate of 10 percent. Both countries generally apply the credit method to eliminate double taxation. This is the first tax treaty between Ghana and Norway since the 1951 Norway-U.K. tax treaty was extended to Ghana in 1955 and later terminated. It will enter into force upon the exchange of ratification instruments, and its provisions will generally apply from January 1 of the year following entry into force.

<h4>Rate Table Instructions</h4> <ul> <li>You must enter a rate for each rate type</li> <li>Enter only one rate value per row</li> <li>You may leave the country columns blank if the rate is the same for both countries</li> <li>Country names (if entered) must exactly match the jurisdictions</li> <li>Leave the Partner Country column blank if you want the rate to apply to all partners of the Main Country</li> <li>Enter "n/a" in each rate row to hide the partner in the Main Country table</li> <li>Note that the same rates may apply for Main Country and Partner Country or the Main Country may apply different rates to the Partner Country</li> </ul> <table> <tbody> <tr> <th> <div>Rate Type</div> (Dividends, Interest, Royalties)</th> <th>Main Country</th> <th>Partner Country</th> <th>Rate</th> <th>Footnote 1</th> <th>Footnote 2</th> <th>Footnote 3</th> <th>Footnote 4</th> </tr> <tr> <td>Dividends</td> <td> </td> <td> </td> <td>7/15</td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td>Interest</td> <td> </td> <td> </td> <td>7</td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td>Royalties</td> <td> </td> <td> </td> <td>10</td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> </tbody> </table>

Ghana - Norway: 2020 Income Tax Convention and Final Protocol

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2020 Ghana-Norway Income Tax Treaty Available