EXCLUSIVE: Ghana‘s fast-developing film sector has received a significant vote of confidence from the country’s authorities as President Nana Akufo-Addo units plans to introduce a brand new tax rebate system for movie productions.
As a part of the brand new regulation, the nation will supply a 20% tax rebate for strategic movie productions alongside a collection of movie financing reliefs, together with exemptions on import duties for movie manufacturing gear. The proposed incentives additionally embrace an exemption on port taxes and different money levies, that are normally required upfront by authorities. The authorities has mentioned native company entities that financially again the sector may also profit from these incentives.
Speaking on the State of the Nation deal with within the parliament of Ghana, President Akufo-Addo mentioned 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 inducement “should provide another tangible reason for Ghana to be the choice country for film production.”
Over the previous three years, beneath the management of Juliet Yaa Asantewa Asante, the National Film Authority of Ghana has launched a collection of bold initiatives aimed toward positioning Ghana as a number one movie hub on the continent. The Authority’s “Shoot in Ghana” marketing campaign garnered appreciable consideration and drew in worldwide productions just like the NFL Super Bowl spot Born to Play. The advert was produced by Danny Damah and Tony Tagoe’s manufacturing firm, TD Afrique Films (Beasts of No Nation).
Commenting on the President’s announcement, Juliet Yaa Asantewa Asante, CEO of the National Film Authority, mentioned: “The forthcoming tax incentive policy, as articulated by the President, stands poised to fortify Ghana’s position within the global film ecosystem, amplifying its attractiveness to filmmakers and solidifying its status as a cinematic powerhouse on the international stage.”
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