The Ghanaian Government recently announced that companies listed on the Ghana Stock Exchange will have tax exemptions on capital gains. This initiative was announced in the 2021 Budget Statement.
The Ministry of Finance first instituted this tax relief policy in 1990 which was renewed every five years until 2015. The tax exemption on capital gains was subsequently reinstated in 2016 and is due to elapse in December 2021.
The Minister for Parliamentary Affairs, Mr. Osei Kyei Mensah Bonsu stated that although the exemption was due to expire this year, it would become permanent. It is expected that this new and stable development will make the local capital market more attractive to investors and bolster interest in share trading in the country.