Category: Government
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Telcos expected to adjust tariff upwards today
Beginning today (1st November, 2018), Ghanaians are expected to start paying more for the services rendered by telcos operating in the country. The telcos, Airtel-Tigo, MTN and Vodafone, earlier announced they are adjusting their tariffs upwards due to the VAT recalibration announced in the Mid Year Budget Review. The government as part of the budget review…
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PEF calls for review of Corporate Tax Policy
The Private Enterprise Federation (PEF) has entreated government to take a second look at the Corporate Tax System in the country. PEF argues that the corporate tax system is grossly unfair especially to Small and Medium Scale Enterprises (SME’s) as they are forced to pay the same 25 percent flat rate paid by large and…
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All imported textiles to pass through Tema Port—Trade Minister declares
The Ministry of Trade and Industry has issued a directive for all textiles imported into the country to enter through the Tema Port. The move forms part of efforts to deal with the influx of pirated textiles on the Ghanaian market. Players in the textile industry have for years lamented the impact of smuggled textiles…
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Fuel prices to drop by 4 percent—IES
Prices of fuel are expected to see a drop of between 2 and 4 percent. The Institute of Energy Security (IES), has predicted. Fuel prices went up in the last pricing window in the middle of October bringing a litre of both petrol and diesel to 5 cedis, 21 pesewas. Explaining the reasons behind the…
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Ghana Building Code to ensure value for money, safety -Bawumia
Vice President, Dr. Mahamadu Bawumia, has said the new Ghana Building Code will bring an end to the situation where the cost of public building projects are inflated by contractors. He also believes the code when fully implemented, will protect the citizenry against accidents caused by the poor construction of infrastructure in the country. The…
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Ghana improves in World Bank Ease of Doing Business Report
Ghana has made progress to improve the ease of doing business, according to the World Bank Group 2019 Doing Business Report. Doing Business 2019 is the 16th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulation and the…
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Gold Coast Holdings discontinues sale of SF products
Gold Coast Holdings is discontinuing the sale of its structured Finance (SF) products effective 22nd October 2018. This follows a directive by the industry regulator, the Securities and Exchange Commission (SEC) directing all SF related products which guaranteed return on investments to no longer be offered by Fund Managers across the country and such positions…
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GRA shuts down head office of Surfline for not paying taxes
The Debt and Management Enforcement Unit of the Ghana Revenue Authority has closed the head office of internet service provider Surfline in Accra for defaulting in tax payment. The GRA embarked on the exercise in the Greater Accra region to retrieve taxes owed government. Explaining the reasons behind the action, Acting Assistant Commissioner at the…
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Smallholder farmers must pool resources—World Food Programme
The World Food Programme(WFP) has admonished smallholder farmers in Ghana to pull their resources in the course of their practice so as to raise the quality of their expertise leading to an increase in demand for their services. Speaking at a session on Custom and Contract Farming during the 8th Pre-harvest Agribusiness Exhibition and Conference…
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GRA revokes licenses of some freight forwarders for under declaration
The Ghana Revenue Authority (GRA) has revoked the licenses of some freight forwarders for falsifying the port of loading from India to other countries. According to the Customs Division of the GRA, the companies under declared the values presented to Customs for duty and tax purposes. The actions of the companies are said to have…