Category: Local Economy
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Tax analyst urges gov’t to increase minimum taxable income to GH¢500
Tax Analyst, Francis Timore Boi has urged the government to consider increasing the salary amount that is taxed at zero percent to a minimum of GH¢500. Currently, employees who receive GH¢365 and below as monthly salary or ¢4,380 as annual salary do not have their earnings taxed. This follows the amendment (no. 2) of the…
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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…
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Gov’t assures of ongoing work to ensure successful economic rebound
The government has assured investors of ongoing work being done to ensure that Ghana’s economic rebound anchored in fiscal consolidation and debt sustainability is successful. This follows concerns raised by investors pertaining to a number of issues including clarity on policy to cut the 2022 expenditure by 20% across board, the 2022 revenue target and…
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SSNIT paid GHS3.6 billion to contributors in 2021- Dr Tenkorang
The Social Security and National Insurance Trust (SSNIT) says it paid GH¢3.6 billion to beneficiaries of the scheme in 2021. The Director-General of SSNIT Dr Ofori Tenkorang made this known while speaking during an event organised by the National Pensioners’ Association. “Last year, we paid GH¢3.6 billion as Pensions, Emigration Benefit, Survivors Lump Sum and…
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100,000 people risk losing their jobs if benchmark value discounts are maintained – Rice Millers
The Rice Millers Association of Ghana (RMAG), Peasant Farmers Association of Ghana (PFAG) and General Agricultural Workers Union (GAWU) have expressed disappointment in the government for indefinitely suspending the Benchmark Value Reduction Reversal Policy. The suspension, according to a joint press release from the three associations, will render about 100, 000 workers in the rice…
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20% quarterly expenditure ceiling will enhance credibility of 2022 budget – Economist
Economist Courage Martey has stated that the government’s move to reduce the quarterly expenditure ceilings across the board for all covered entities benefiting from the 2022 Budget by 20% beginning 2022 quarter one, will enhance the credibility of the 2022 budget. The Minister of Finance, Ken Ofori-Atta, earlier this month announced that, in a prudent…
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Lands Minister justifies suspension of companies at the center of Bogoso explosion
The Minister of Lands and Natural Resources, Samuel Abdulai Jinapor, has justified the decision to order for the closure of Maxam Ghana Limited and Jocyderk Logistics Limited, the two companies at the centre of the unfortunate Bogoso explosion. A letter from the Ministry to the Minerals Commission revealed that preliminary investigations showed that Maxam Ghana…
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Gov’t urged to be consistent with COVID-19 protocols to attract international tourists
The government is being urged to ensure its anti-COVID-19 protocols, especially at the Kotoka International Airport, are not changed haphazardly in order to boost traveller confidence. This is according to Aviation Analyst, Sean Mendes. According to him, inconsistent COVID-19-related policies will deter international visitors from travelling to countries like Ghana. Despite the strong performance of…
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Give us time to pay 1% levy – Tourism Chamber to Government
The Chief Executive Officer (CEO) of the Chamber for Tourism Industry Ghana, Emmanuel Treku has asked the Ghana Tourism Authority (GTA) to sensitize players in the hospitality industry on the need to pay their 1% tax levy rather than shutting down facilities which have failed to do so in recent times. The GTA last week…
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![Mixed reactions greet BoG’s directive on use of Ghana Card for financial transactions [Video]](https://citibusinessnews.com/wp-content/uploads/2022/01/9fefb2e34cef087cb8569e5dd5760f10.jpg)
Mixed reactions greet BoG’s directive on use of Ghana Card for financial transactions [Video]
Some Ghanaians have expressed mixed reactions to the directive of the Bank of Ghana for all licensed and regulated financial institutions under the central bank, to accept only the Ghana Card for transactions from July 1, 2022. Per the notice from the Central Bank, the move is in furtherance of the BoG’s objective of ensuring…