President Nana Addo Dankwa Akufo-Addo
President Akufo-Addo has announced a series of tax incentives for the film industry in Ghana, as part of his government's efforts to support the production and distribution of quality films and content.
He made this announcement during his State of the Nation Address on February 27, 2024, at Parliament House in Accra.
The president said that the government, through the National Film Authority, is aiming to increase the cinema infrastructure in Ghana and on the continent, and to make Ghana a preferred destination for film production.
The president emphasized that the Cabinet is actively developing a positive fiscal framework for cinema ventures. This framework will encompass incentives such as income tax and VAT benefits, exemptions from import duties on film production equipment, a 20% tax rebate for significant film productions, and relief measures for film financing.
“To this end, a favourable fiscal (tax) regime for cinema projects, including income tax and VAT incentives, import duty exemptions on film production equipment, a twenty percent (20%) tax rebate for strategic film productions and film financing reliefs, is being elaborated by Cabinet, which should be out-doored very soon, and should provide another tangible reason for the choice of Ghana as a film production country,” he said.
The president’s promises come amid comments by stakeholders in the creative arts sector regarding the government's performance in enhancing the creative arts sector in Ghana and its overall management of the country, including the fulfilment of promises made.
Many of these stakeholders have accused the government of neglecting and failing to fulfil promises made to the sector.
In his public address at the University of Professional Studies, Accra (UPSA) on Wednesday, February 7, 2024, Dr. Bawumia unveiled his plans to boost the creative arts sector if he becomes president, which include introducing digital and streaming platforms, providing tax incentives for movie producers, and implementing an e-visa policy for international tourists.
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