President Nana Akuffo Addo announces Tax incentive Policy for Film Productions

By Bismark Odum Sackey / Mustapha Yahaya

Ghana’s film sector is primed for a significant boost as the government plans to introduce a 20% tax rebate aimed at attracting film productions and propelling Ghana into the global spotlight as a premier filming destination. The proposed tax rebate seeks to invigorate film projects while nurturing the expansion of Ghana’s indigenous cinematic landscape.

Speaking at the State of the Nation Address in the parliament of Ghana, the President of Ghana, Nana Addo Dankwah Akuffo Addo indicated 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”.

President Akuffo Addo announced the imminent release of a favorable fiscal(tax) regime for cinema projects, including income tax and VAT incentives, exemptions on import duties for film production equipment, twenty percent (20%) tax rebate for strategic film productions and film financing reliefs. According to the President this initiative “should provide another tangible reason for the choice of Ghana as a film production country.”

The proposed incentives include exemption strategy for taxes on imports and value-added services. This could translate to significant savings for filmmakers and other investors in film infrastructure and equipment, as they may be spared from paying port taxes and other crucial levies upfront. Additionally, local corporate entities that financially back the sector might also benefit from these incentives.

Over the past three years, under the leadership of Juliet Yaa Asantewa Asante, the National Film Authority of Ghana has pursued initiatives to position Ghana as Africa’s premier shooting destination and content hub, as well as working to develop the marketplace for film. The Authority’s “Shoot in Ghana” campaign has garnered considerable attention, enticing numerous foreign productions to Ghana. Notably, the campaign achieved a remarkable milestone with the NFL Super Bowl spot “Born to Play” which was shot in Ghana and produced by Danny Damah and Tony Tagoe production company TD Afrique films (Beasts of No Nation), amassing more than 500 million views within hours of its release.

Commenting on the President’s announcement, the CEO of National Film Authority, Juliet Yaa Asantewa Asante said “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 stature as a cinematic powerhouse on the international stage.