Author: Nerteley Nettey
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Tax Analyst kicks against calls for VAT reduction for aviation and hospitality sectors
A Tax Analyst, Timore Francis Boi, has kicked against suggestions that the Value Added Tax (VAT) of 12.5 percent should be reduced for players in the hospitality, tourism, and aviation sectors due to the severe impact of COVID-19 on those sectors. His call comes after global auditing giant, Deloitte, in its post-Mid-year Budget analysis report,…
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Tips on partnerships and financing options for startups
According to Wikipedia, “Partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership…
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Gov’t requests US$1.3 billion syndicated loan to purchase cocoa for 2020/2021 crop season
Government is seeking parliamentary approval to borrow US$1.3 billion to finance the purchase of cocoa for the 2020/2021 crop season. An additional GHS6.5 million in tax waivers has also been presented to Parliament. The requests were made before the Finance Committee of Parliament on Monday, August 10, 2020. The House is expected to debate and…
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Fiscal discipline required to stabilize economy – IFS
A Senior Research Fellow at the Institute of Fiscal Studies, IFS, Dr. Said Boakye, has reiterated the need for more political commitment to ensure fiscal discipline amidst the novel Coronavirus pandemic. According to him, with Ghana’s debt servicing taking 72 per cent of government revenue, the county’s fiscal position is likely to get worse if…
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1D1F: Ekumfi Juice, Casa De Ropa to pick up after COVID-19 slowed production
Mangers of two major factories under government’s One District One Factory initiative in the Central Region, Ekumfi Fruit and Juices Factory, and Casa de Ropa company, say although they have been negatively impacted by the COVID-19 pandemic, their production capacities have not been significantly reduced. The two firms, which have received credit facilities from the…
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SEC urges fund managers to invest more in ICT services
The Director General of the Securities and Exchange Commission, SEC, Rev. Daniel Ogbarmey Tetteh, has emphasized the need for fund managers to leverage on technology for business growth. According to him, the impact of information and communication technology (ICT) in the securities industry has become increasingly critical considering the impact of the novel Coronavirus on…
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Telcos challenge Ursula’s claim of GHS1.5bn under-declared taxes
The Ghana Chamber of Communications has debunked the claim that the implementation of the Common Platform, has uncovered under declaration of taxes by mobile network operators. This follows claims by the Minister of Communications, Ursula Owusu-Ekuful in Parliament, that government has made savings of GHc1.5 billion in under-declared taxes in the telecommunications sector since the…
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Gov’t must seek debt relief and cancellation to ease debt burden – IFS
The Institute of Fiscal Studies, IFS, has urged government to immediately seek debt reliefs and cancellation from its major creditors. According to the Institute, while it is true that the pandemic has affected the country’s fiscal position, the ‘head-scratching choices’ of the government to alleviate the economic impact of the pandemic puts the country in…
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First Atlantic Bank launches 25th anniversary; commits to sub-regional expansion
First Atlantic Bank has launched its 25th Anniversary celebration with a commitment to continue providing its customers with innovative products and services as it positions itself for bigger competition in the West African sub-region. Speaking to Citi Business News, the Managing Director of the bank, Odun Odunfa, said, the milestone will be marked in all…
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Common Platform has saved Ghana GHS1.5bn in under – declared taxes by telcos – Ursula
Government says it has made savings of GHc1.5 billion in under-declared taxes in the telecommunications sector since the implementation of the Common Platform (CP) in 2017. This was disclosed by the Minister of Communication, Mrs Ursula Owusu-Ekuful in Parliament on Friday, 7th August, 2020. Answering questions on the floor of Parliament, the Minister said “an…