Prez. Akufo-Addo announces 20% tax rebate for strategic film productions

In a State of the Nation address to the nation on Tuesday 27th February, 2024 in the Parliament of Ghana, the President, Nana Akufo-Addo said that plans are underway to introduce tax incentives for the film industry.

In his address, he said the 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.

“To this end, a favourable fiscal (tax) regime for cinema projects, including income tax and VAT incentives, import duty exemptions on film production equipment, 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 noted.

Akufo-Addo also added that the National Museum Gallery, which had been closed down since 2015, has also been fully refurbished.

According to him, “it attracted over thirty-five thousand (35,000) visitors in 2023, and I am particularly pleased that school children form a good part of the visitors to these sites.”

The President added that the first-ever Kente Museum, aimed at preserving the cultural heritage in Ghana, has been built at Bonwire in the Ashanti Region, and was recently commissioned by the Second Lady.

“Preparatory works and designs for the construction of the Heroes Park, a museum to commemorate the founding fathers of Ghana, the Big Six, JB Danquah, Emmanuel Obetsebi-Lamptey, Edward Akufo-Addo, Ebenezer Ako Adjei, William Ofori-Atta, Kwame Nkrumah, were completed in December 2023, and construction will commence very soon,” he further stated.

He also told the house that for the first time since the Kwame Nkrumah Memorial Park was constructed in 1992, Government has undertaken a full modernisation rehabilitation of the facility.

Since the commissioning of the modernised park in July 2023, the number of domestic and international visitors has risen dramatically.


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