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    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    World Trade Centre Accra Accra announces partnership with Altkom Akademia to offer professional education in Africa

    Ghana has the 4th cheapest average cost of internet in Africa – Statista

    Africa’s internet economy to cross $180 billion by 2025: Report

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

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    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

  • TECHNOLOGY

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    • Asia
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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Businesses now applying for TIN to be taxed after accessing GHS1bn stimulus – GRA

byNerteley Nettey
May 28, 2020
in Local Economy, Top Stories
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The Ghana Revenue Authority, GRA, says all businesses seeking to acquire TIN numbers now will be made to pay taxes after benefiting from the government’s GH¢1 billion COVID-19 Alleviation Business Support Programme for Micro, Small and Medium-scale Enterprises.

Many business owners that did not have TIN numbers before the COVID-19 Pandemic have besieged the GRA offices in the Volta Region to apply for them.

The TIN number, which is a prerequisite for those applying for the stimulus package, also identifies businesses and enables the GRA to target them for taxes.

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Assistant Commissioner at the Medium Scale Taxpayers’ Office at the GRA in the Volta Region, Kwame Owusu Bamfo, says the businesses seeking to benefit from the COVID-19 relief package should be ready to pay taxes.

“We want to say that getting the Tin is not the end of it. Later on, they have to pay tax. We are looking at the job you do. Whether you are a small tax payer or a medium tax payer, once you get the Tin your name will be on our system and we will register you as a taxpayer. In due course we will be assessing you to pay tax because without tax the nation cannot develop. This is a requirement, even in the bible, Romans chapter 13 asks us to pay tax to the authorities,” he said.

GRA

In the wake of the outbreak of the novel Coronavirus, President Akufo-Addo in March announced that all households and small to medium scale enterprises are to benefit from a stimulus package of one billion Ghana cedis.

This was part of measures to mitigate the economic impact of the pandemic in Ghana to sustain businesses.

The initial amount for the SMEs was pegged at GHS600 million, but has been increased to GHS1 billion following a commitment by some participating financial institutions.

Over 14,000 businesses apply for GHS1bn stimulus package for SMEs – NBSSI

So far, the National Board for Small Scale Industries (NBSSI) says over fourteen thousand business owners have already applied for the one billion stimulus package.

According to NBBSI, majority of the applicants are within the agribusiness and education sectors.

This follows President Akufo-Addo’s launch of the GHC1 billion Coronavirus Alleviation Programme Business Support Scheme on Tuesday 19th May, 2020.

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Africa’s internet economy to cross $180 billion by 2025: Report

Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

E-Levy is an overhyped revenue generation measure – Seth Terkper

Leverage crises to improve fortunes of continent – Ofosu-Dorte

African Finance Ministers tasked to allocate more resources into education sector

Unilever Ghana PLC remains upbeat about future growth prospects

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