Category: Manufacturing
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GRA apprehends Chinese shop owner for tax evasion
The management of Sinic Enterprise, a Chinese owned footwear company has been arrested for tax evasion. This follows an investigation carried out by the Ghana Revenue Authorities on some 12 businesses in the Central Business District of Accra. The investigation revealed that Sinic Enterprise through a process of carding has been evading tax. According to…
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GRA launches mobile application to verify tax stamps
The Ghana Revenue Authority has launched a mobile application named “Ghana Tax Stamp Authenticator” to help consumers to detect the genuineness of tax stamps on products sold in retail shops. The application launched on Tuesday enables consumers to scan and verify the excise tax stamps affixed on excisable products such as alcoholic and non-alcoholic beverages…
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Close to GHS100 million spent on capacity building – Business Development Minister
The Minister for Business Development, Mohammed Ibrahim Awal has revealed that his ministry has so far spent about GHC 100 Million as part of its many initiatives to build capacity of entrepreneurs across the country. The Ministry has for the past two years implemented a number of initiatives including the Presidential Business Support, Green Business…
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Government to create 120,000 jobs within five years — Minister
Government, through the Ministry of Business Development, says it will create 120,000 jobs under the youth entrepreneurship programmes within five years to help reduce youth unemployment and bolster the economy. Dr Ibrahim Mohammed Awal, the Minister of Business Development, said this at the ‘Meet-the-Press’ series in Accra, on Tuesday. He said GH¢100 million has been…
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Ghana Stock Exchange to suspend PBC’s listing
The Ghana Stock Exchange (GSE) is to suspend the listing status of licensed cocoa buyer, PBC Limited, from the bourse, come this Thursday, August 15. It follows the company’s inability to comply with two requirements of the GSE, it said in a statement issued Tuesday morning. It mentioned the breached regulations as failure to publish…
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Reduction in benchmark values is disincentive for manufacturing — AGI
The Association of Ghana Industries (AGI) has stated that the government’s reduction in the benchmark values of imported goods is troubling and could be counterproductive to the government’s industrialisation agenda. AGI in a press statement issued said it will require government more commitment to chart a very competitive path for the industry to ensure sustainable…
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AU, AfDB sign US$4.8 million grant for free trade secretariat
The African Development Bank Group has signed a US$4.8 million institutional support grant to the African Union (AU) for the implementation of the African Continental Free Trade Area (AfCFTA). The grant, approved by the Group’s Board of Directors on 01 April 2019, forms part of a series of interventions by the Bank in its lead…
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Re-evaluate tax measures to help make industry competitive – AGI to Gov’t
Ahead of the 2019 mid-year budget review presentation later this morning, some private individuals and institutions have added their voice, to calls for some major reforms. The presentation of the supplementary budget by the Finance Minister, Ken Ofori-Attah, comes 8 months after the presentation of the main 2019 budget in November last year. Speaking to…
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Mid-year review: AGI wants excise tax on bottled water removed
The Association of Ghana Industries (AGI) is calling for an excise tax waiver on bottled water in the mid-year budget review as it would help make companies in the sector more competitive and productive. The Association said the high excise regime on bottled water, a basic necessity in the country, is a major challenge…
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WAMCO makes US$2 million profit after comeback
The West African Mills Company, (WAMCO) has made a US$ 2 million profit after its comeback within a period of one and a half years. The factory, which became redundant and laid off hundreds of its workers for lack of cocoa beans was revived following a campaign promise by the NPP. Mr. Joseph…