NTS Commissioner Im Gwang-hyeon meets Ghana's deputy finance minister and tax chief in Sejong

National Tax Service Commissioner Im Gwang-hyeon poses for a photo with a Ghanaian tax authority delegation in Sejong on Monday. From left: Ghana Revenue Authority Commissioner-General Anthony Kwasi Sarpong, NTS Commissioner Im Gwang-hyeon, and Ghana Deputy Finance Minister Thomas Nyarko Ampem. [National Tax Service]
National Tax Service Commissioner Im Gwang-hyeon poses for a photo with a Ghanaian tax authority delegation in Sejong on Monday. From left: Ghana Revenue Authority Commissioner-General Anthony Kwasi Sarpong, NTS Commissioner Im Gwang-hyeon, and Ghana Deputy Finance Minister Thomas Nyarko Ampem. [National Tax Service]

South Korea has moved to deepen tax cooperation with Ghana, a financial hub in West Africa, seeking joint collection enforcement and better tax treatment for Korean companies operating in the country.

The National Tax Service said Commissioner Im Gwang-hyeon met with Ghanaian officials at the Government Sejong Building on Monday to discuss the cooperation measures.

Im asked Ghana Deputy Finance Minister Thomas Nyarko Ampem and Ghana Revenue Authority Commissioner-General Anthony Kwasi Sarpong to ensure Korean businesses in Ghana can operate in a stable and predictable tax environment.

Im also praised Ghana's advanced financial system as a regional hub and urged the Ghanaian side to cooperate actively in joint collection efforts should high-value Korean tax delinquents attempt to hide assets in the country.

Ghana pledged active tax support and agreed to continue discussions on joint collection cooperation following the meeting.

The NTS also introduced its digital transformation initiatives, including an AI chatbot consultation service. The two countries agreed to expand practitioner exchanges across a range of areas, including e-taxation.

The meeting was arranged to translate into concrete action the tax cooperation commitments made at the two countries' summit talks in March.

Ghana is regarded as a key strategic partner and a hub of the West African economy, and also serves as the headquarters of the African Continental Free Trade Area secretariat — a factor expected to give South Korea a positive foothold in the broader African market. The AfCFTA officially launched in January 2021 with the goal of creating a single market covering more than 1.2 billion people and a combined GDP of $3 trillion. Fifty-four African Union member states participate in the agreement.

According to the Korea International Trade Association, bilateral trade between South Korea and Ghana has grown steadily, rising from $210 million in 2023 to $240 million in 2024 and reaching $380 million last year.

"We plan to continue expanding our tax partnership with major emerging economies not only in Africa but around the world, supporting Korean companies' overseas expansion and strengthening international cooperation to recover assets hidden abroad by tax delinquents," the NTS said.


oskymoon@heraldcorp.com