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Bank customers angry over VAT charges in financial sector

Some bank customers have expressed disgust over the latest list of financial services that would attract the new 17.5% VAT charge. The list released by the Ghana Revenue Authority (GRA) last Friday affects nearly all bank charges. The financial services, which hitherto had been exempted from VAT, will now from the first of July this year start charging VAT. Thirty ...

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List of taxable financial services released by GRA

The Ghana Revenue Authority (GRA) has released the list of services that would attract the 17.5 percent Value Added Tax (VAT) and National Health Insurance Levy (NHIL). The GRA in a letter to Bankers and Banks said the 32 fee-based services would attract the tax from July 1, 2014. The amendment of the VAT law last November expanded the scope ...

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Senchi consensus if implemented will save economy – Kwesi Botchwey

A former finance minister Prof Kwesi Botchwey is certain the implementation of the Senchi consensus will save the country from its current crisis. Ghana close to two years now has been facing some economic challenges including high inflation rate, rising budget deficit and increased cost of borrowing among others. Inflation currently stands at 14 .7 percent the highest rate since ...

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Companies advised to empower sales team

The Head of Enterprise Business for Airtel, Maxwell Dodd has challenged businesses to empower their sales teams to achieve higher targets. Speaking on the topic, “Reinvigorating your sales force” in day two of Citi FM’s annual Management Development Month series he called for sales teams to be enabled with modern day tools. According to Maxwell Dodd, critical information on clients ...

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‘Dalex Paddy’ offers free cash to workers

Dalex Finance and Leasing Co. Ltd. has announced the ‘Cash Dash’ promotion which gives free cash to government workers. The promo also celebrates the rebranding of the Dalex Salary Loan Agent as the ‘Dalex Paddy’. The ‘Dalex Paddy’ is the friendly and ethical service provided by the Dalex sales force of over 750 agents nationwide. Speaking at the launch of ...

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Chief Executive of Barclays Africa Kennedy Bungane resigns

Chief Executive of Barclays Africa Regional Management and Head of Strategy, Kennedy Bungane has resigned. His resignation takes effect from 18 June 2014. It’s unclear where he will be heading to but a statement from Barclays Africa Group Limited said Mr Bungane had resigned to pursue other business interests. In the interim, the Barclays Africa executive will assume accountability for ...

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Helen Quartey replaces Ricketts Hagan at Finance Ministry

President John Mahama has appointed Mrs. Mona Helen Quartey as new Deputy Minister of Finance to replace Kweku Ricketts Hagan. This could be seen as the President’s attempt to rebuild the support system at the ministry to help solve the country’s current economic crisis. Last week the President appointed an economist with the African Development Bank, Dr. John Kofi Baffoe as Technical ...

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Gov’t appoints transaction advisors for Eurobond issue

Government is to issue a one-billion Eurobond in 2014 for capital expenditures in the Budget, counterpart funding for pipeline projects and the refinancing of domestic and external debt. Parliament also approved an option to issue an additional 500 million dollars for purposes of refinancing existing debt. A Ministry of Finance and Economic Planning statement signed by Cassiel Ato Forson, Deputy ...

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