Ghana To Introduce Tax Incentive For Film Productions

deadline.com:

EXCLUSIVE: Ghana‘s fast-developing film sector has received a significant vote of confidence from the country’s government as President Nana Akufo-Addo sets plans to introduce a new tax rebate system for film productions.

As part of the new law, the country will offer a 20% tax rebate for strategic film productions alongside a series of film financing reliefs, including exemptions on import duties for film production equipment.

The proposed incentives also include an exemption on port taxes and other cash levies, which are usually required upfront by authorities.

The government has said local corporate entities that financially back the sector can also benefit from these incentives. Speaking at the State of the Nation address in the parliament of Ghana, President Akufo-Addo said that his “government, through the National Film Authority, is committed to supporting the production of world-class content and films, as well as increasing the cinema infrastructure in Ghana and by extension, on the continent.”  Akuffo Addo added that the incentive “should provide another tangible reason for Ghana to be the choice country for film production.” Over the past three years, under the leadership of Juliet Yaa Asantewa Asante, the National Film Authority of Ghana has launched a series of ambitious initiatives aimed at positioning Ghana as a leading film hub on the continent.