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Ghana Business Report
General information
Source: The World Factbook - Central Intelligence Agency
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 78/180High 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 goods2 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 businessNational 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 GhanaAre you interested in Ghana business?
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