Category: Government
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Don’t backtrack on reversal of benchmark value discounts – AGI urges gov’t
The Association of Ghana Industries (AGI) is urging the government not to relent in its goal of implementing the reversal of the reduction in benchmark values policy introduced in 2019. The remark follows President Nana Akufo-Addo’s directive to the Ghana Revenue Authority (GRA) to suspend the planned implementation of the policy reversal, for further consultations.…
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Be circumspect in your debt accumulation in 2022 – Prof. Quartey to gov’t
The government has been urged to be circumspect when it comes to borrowing this year, 2022. This is according to the Director of the Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana, Professor Peter Quartey. A close look at the Summary of Macroeconomic and Financial Data from the Bank of…
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Implementation of revised benchmark values policy deferred again to Jan. 17
The Ghana Revenue Authority (GRA), has for the second time deferred the implementation of the reversal of reduction of values of imports (known as Benchmark Values) on selected items, to Monday 17, January 2022. The authority explains that the transitional arrangements are to ensure a smooth implementation. It is also to allow a storage free…
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Importers call for a 2-week deferment of implementation of revised benchmark policy
The Importers and Exporters Association of Ghana is calling for a minimum of a 14-day deferment of the implementation of the reversal of the reduction in benchmark values policy, by the Ghana Revenue Authority (GRA). According to the GRA, implementation of the revised policy will now start on Thursday, the 6th of January, 2022, to…
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Benchmark policy reversal implementation issues to cause rift between agents and importers – IEAG
The Importers and Exporters Association of Ghana is warning of a rift between freight forwarders and their clients if the challenges with the implementation of the reversal of the reduction in benchmark values policy as witnessed yesterday continue. The government’s reversal of the 50% discount in the benchmark values of some imported goods and 30%…
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IMF austerity measures affecting recruitment of critical workforce—ActionAid’s report
A new report released by ActionAid Ghana in partnership with Public Services International and Education International has confirmed concerns raised by experts in the finance and tax industry on Ghana’s alarming debt crisis. Titled “The Public Versus Austerity: The wage bill constraints”, the report analyses trends in public sector wage bill in education and health…
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South African president calls for increased trade with Ghana
The Presidents of Ghana and South Africa have called for increased trade between the two countries as the first year of the implementation of the African Continental Free Trade Area (AfCFTA) comes to an end. The remarks were made by the two heads of state at the Ghana – South Africa Business Forum in Accra…
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‘The game is still on, we’ll surely approve 2022 budget’ – KT Hammond
The Member of Parliament for the Adansi Asokwa constituency in the Ashanti Region, KT Hammond, says members of the Majority Caucus will marshal all the arsenal at their disposal to approve the 2022 budget, which was rejected by Parliament last Friday. “The Game is still on. The action will be in play today. There won’t be any…
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Review SSNIT contribution rate to sustain it – ACRR calls on Parliament
The African Centre for Retirement Research (ACRR), a non-profit policy research organisation, has called for an increase in the rate of Social Security and National Insurance Trust (SSNIT) contributions to sustain the operations of the scheme. The centre, which focuses on retirement and pensions, said “the recommended contribution rate (cost rate) necessary to sustain the…
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Government can solve unemployment with investments in technical and vocational education- Dr Kwabena Duffuor
The government has been urged to commit adequate resources to Technical and Vocational Education and Training as a way to curb the growing unemployment rate in the country. A former Finance Minister who is also the founding and presiding President of the Institute of Fiscal Studies, Dr Kwabena Duffuor has suggested that the failure to…