Author: Anita Arthur Kissi-Mireku
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GRA to engage importers and exporters over amended VAT structure
The Ghana Revenue Authority (GRA) has responded to concerns raised by the Importers and Exporters Association of Ghana over a possible 12 percent increase in the prices of some commodities should it go ahead to implement the amended Value Added Tax (VAT) rate. According to the importers and exporters association, the amendment of the VAT …
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Economist urges government to address disparity in interbank and forex retail rates
The government will have to work harder to improve upon the credibility of the country’s fiscal regime in order to attract more foreign exchange into the country. This is according to an economist with DataBank, Courage Boti. Currently, analysts are concerned that speculations relating to the government’s handling of its debt and its ability to…
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NIC urges insurance companies to recapitalize by May 2022
Insurance companies that fail to meet the new minimum capital requirement by May this year may have to sell off their companies or merge with others. This is according to the Commissioner of Insurance for the National Insurance Commission (NIC), Justice Ofori. The move follows a decision by the NIC to see to the recapitalization…
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Prices of goods to go up by 12% over implementation of amended VAT
Consumers may have to pay an increase of about eight to twelve percent from February for some commodities should the Ghana Revenue Authority (GRA) implement the amended Value Added Tax (VAT) rate. This is according to the Importers and Exporters Association of Ghana (IEAG). The association says, the amendment, which was gazetted on December 31,…
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Peasant farmers petition Minority over challenges of local rice industry
The Peasant Farmers Association and the Rice Farmers Association have petitioned the Minority in Parliament over the state of the local rice industry. According to the Executive Director of the Peasant Farmers Association, Dr. Charles Nyaaba, the reduction in benchmark values on imported goods is serving as an indirect subsidy for imported rice which is…
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Mobile money association of Ghana petitions minority to reject E-levy
The Mobile Money Association of Ghana has petitioned the minority in parliament to reject the Electronic Transfer Levy. According to the association, its implementation will result in many job losses in the country. Following the controversy surrounding the levy, the government has decided to present an amended rate for the levy reducing it from 1.75…
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Poultry farmers yet to be compensated despite GH¢44M allocation to fight bird flu
Poultry Framers say they are yet to receive compensation for the outbreak of bird flu that hit the country sometime in July 2021. The ministry of Agric last year announced the government will compensate affected farmers by partially covering the losses of farmers whose activities have been affected by the disease. The government on the…
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Poultry farmers demand audit of approach used to check bird flu outbreaks
The Greater Accra Poultry Farmers Association says the Veterinary Service should audit the approach it uses to tackle bird flu in the country. This follows the latest outbreak of the disease, which has already left over 700,000 birds dead. In order to contain its spread, the government has released GH¢44 million to manage the flu.…
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Agric Ministry assures of safeguarding rice farmers amidst ongoing benchmark discussions
The Ministry of Agric says it will do all it can to safeguard the interest of rice farmers in the country, following threats that thousands of people in the rice value chain risk losing their jobs due to the benchmark discount policy in place. According to rice farmers, the benchmark value reduction policy, makes imported…
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Senyo Hosi urges gov’t to prioritize reversal of benchmark discounts on rice
CEO of HGL, a multi-grain processing facility, Senyo Hosi says the government needs to prioritize the reversal of the benchmark value reduction policy on rice even as it continues to engage stakeholders on the way forward. He argues that such a move is necessary in order not to derail all the gains that have been…