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    We will not layoff Vodafone staff – Telesel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

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    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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5% VAT on houses fair-GREDA

bycitibusinessnews
November 20, 2014
in Banking And Finance, Business, Top Stories
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The Ghana Real Estate Developers Association (GREDA) has described as a “negotiated deal”, the decision by government to reduce the Value Added Tax (VAT) to cover the sale of houses to 5%.

Government revised in the 2015 budget statement, its decision to slap 17.5% VAT on the real estate sector after serious concerns were expressed by GREDA.

GREDA petitioned government to find a more effective way of taxing the industry to ensure government and the private sector contribute in closing the housing deficit.

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Citi Business News has learnt GREDA was proposing 4 % VAT during discussions with government.

The Vice President Paa Kwesi Amissah-Arthur in February,2014 maintained that government was right to tax the real estate sector.

This was despite concerns from players in the industry that the move could lead to a hike in prices of houses in the country.

But according to the First Vice-President of GREDA, Patrick Ebo Bonful the latest decision to review the taxes by government is fair.

“any reduction in taxes is welcome news, …it is fair and in terms of the effect on our figures going forward , we are going to sit with them and see the details as to its implementation” he stated.
By: Rabiu Alhassan/citifmonline.com/Ghana

 

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