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Ghana Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
28,102,471 (July 2018 est.)
GDP (PPP)
$134.0 billion (2017 est.)

A market-based economy with relatively few policy barriers to trade and investment

GDP growth rate
8.4% (2017 est.)

High growth rate (average rate last 10 years: ≈7%)

GDP (PPP) per capita
$4,700 (2017 est.)

Very low

Local currency
Cedi (GHC)

Weak currency: continuous depreciation in the last 10 years

Financial stability (Public debt)
71.8% (2017 est.)

Medium, however it increased sharply in the last years

Inflation
12.4% (2017 est.)

High and unstable

Language
English (official)

Many local languages are spoken locally

Corruption perception index (Source: Transparency International)
Rank 78/180

High level of corruption. However, it is one of the lower of Africa

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
12.5% standard VAT rate; 3% reduced VAT rate for supplies of a wholesaler or retailer of goods
2 other taxes: NHIL of 2.5% and GETFL of 2.5%. They are charged for supply of goods and services provided in Ghana, import of services and products
Corporate Tax
25% standard tax rate. Different rates are applicable in a wide range of specific business
National Fiscal Stabilisation Levy is another tax that is applied to companies in some specific sectors (5% rate)
Duties
Customs and excise duties are imposed on the importation of goods at the port of entry and certain manufactured goods produced or imported into Ghana

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