{"id":509243,"date":"2022-07-26T10:00:37","date_gmt":"2022-07-26T10:00:37","guid":{"rendered":"https:\/\/www.publicfinanceinternational.org\/?p=509243"},"modified":"2022-07-26T10:03:07","modified_gmt":"2022-07-26T10:03:07","slug":"uk-and-ghana-sign-significant-tax-reporting-deal-offshore-investing","status":"publish","type":"post","link":"https:\/\/www.publicfinanceinternational.org\/news\/2015\/08\/ghana-and-uk-join-forces-combat-tax-evasion\/","title":{"rendered":"UK and Ghana Sign Significant Tax Reporting Deal – Offshore Investing"},"content":{"rendered":"\n

The UK and Ghana confirmed a deal to exchange tax documents<\/strong> on citizens automatically. This will help Ghana prevent tax evasion and raise cash for public services.<\/p>\n\n\n\n

\u201cThis significant milestone will help Ghana prevent tax evasion and reclaim millions of pounds in lost tax revenue,\u201d said Justin Greening, the UK International Development Secretary.<\/p>\n\n\n\n

This deal helps Ghana join forces with HMRC (HM Revenue & Customs), the revenue collection department in the UK. The HMRC will help them get a tax system that will help fund education, health, and infrastructure and reduce aid dependence.<\/p>\n\n\n\n

Under this deal, Ghana\u2019s Revenue Authority (GRA) will receive tax information from HMRC on the holdings of Ghaninian taxpayers in the UK and vice versa.<\/p>\n\n\n\n

Tax, online trading, and investments – Offshore Accounts<\/h2>\n\n\n\n

Some investors try to evade or, let\u2019s say, \u201coptimize\u201d tax and privacy by using offshore brokerage accounts<\/a>.\u00a0\u00a0<\/p>\n\n\n\n

Offshore trading platforms are often misconstructed as something investors do to evade wealth and income from the tax office. <\/p>\n\n\n\n

The truth is that offshore investing means taking advantage of investment opportunities outside the county you reside in.<\/p>\n\n\n\n

Expats, for example, already have offshore bank accounts. Offshore investing only takes this a step further. Instead of holding money, you invest there. <\/p>\n\n\n\n

Offshore does not mean you don\u2019t have to pay taxes<\/h3>\n\n\n\n

Offshore investment can provide tax-efficient ways to invest, but that does not mean you don\u2019t have to report income and taxes to your authorities. Like the deal that Ghana and United Kingdom<\/a> signed, it is our view that more countries will sign deals in the future. It is your responsibility to disclose your income and investments to your tax authorities.<\/p>\n\n\n\n

Investing in the UK through an offshore account if you reside in Ghana is entirely legal. All income or gains have to be reported in your country.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":509237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_stopmodifiedupdate":false,"_modified_date":"","_important_terms":"","inline_featured_image":false,"_uag_custom_page_level_css":"","ub_ctt_via":"","advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[100263],"tags":[],"table_tags":[],"acf":[],"featured_image_src":"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal.jpg","author_info":{"display_name":"Ziga Breznik","author_link":"https:\/\/www.publicfinanceinternational.org\/authors\/"},"author_meta":{"display_name":"Ziga Breznik","author_link":"https:\/\/www.publicfinanceinternational.org\/authors\/"},"featured_img":"https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal-300x150.jpg","uagb_featured_image_src":{"full":["https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal.jpg",1200,600,false],"thumbnail":["https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal-150x150.jpg",150,150,true],"medium":["https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal-300x150.jpg",300,150,true],"medium_large":["https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal-768x384.jpg",768,384,true],"large":["https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal-1024x512.jpg",1024,512,true],"1536x1536":["https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal.jpg",1200,600,false],"2048x2048":["https:\/\/www.publicfinanceinternational.org\/wp-content\/uploads\/UK-And-GHANA-Sign-Significant-Tax-Evasion-deal.jpg",1200,600,false]},"uagb_author_info":{"display_name":"Ziga Breznik","author_link":"https:\/\/www.publicfinanceinternational.org\/authors\/"},"uagb_comment_info":0,"uagb_excerpt":null,"coauthors":[],"tax_additional":{"categories":{"linked":["News Archive<\/a>"],"unlinked":["News Archive<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 2 years ago","modified":"Updated 2 years ago"},"absolute_dates":{"created":"Posted on July 26, 2022","modified":"Updated on July 26, 2022"},"absolute_dates_time":{"created":"Posted on July 26, 2022 10:00 am","modified":"Updated on July 26, 2022 10:03 am"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/posts\/509243"}],"collection":[{"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/comments?post=509243"}],"version-history":[{"count":3,"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/posts\/509243\/revisions"}],"predecessor-version":[{"id":509247,"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/posts\/509243\/revisions\/509247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/media\/509237"}],"wp:attachment":[{"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/media?parent=509243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/categories?post=509243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/tags?post=509243"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/www.publicfinanceinternational.org\/wp-json\/wp\/v2\/table_tags?post=509243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}