Graphic Business has held the first of its Business Breakfast Series for 2016 on the theme “The New Tax Law: Its Implications for the Economy and Businesses.”
This comes at the time that some business owners have raised concerns about the new tax law (Act 896) which became operational from January 1, 2016.
The Finance Minister Seth Terkper who was the main speaker at the forum justified the need to tax allowances and pensions under the new income tax law, Act 896, 2015.
According to him, allowances and incomes forms part of incomes with pensions earning interest on principal put in the fund.
Other speakers who spoke at the forum apart from the Finance Minister, Seth Terkper, were tax consultant and lawyer, Abdallah Ali-Nakyea, and a Deputy Commissioner in charge of Policy and Programmes at the Ghana Revenue Authority (GRA), Edward Gyamerah.
By: Norvan Acquah – Hayford/citibusinessnews.com/Ghana