Category: News
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GRA to rake GH¢400 million from gaming tax
The Ghana Revenue Authority (GRA) is hoping to rake in some GH¢400 million from the new gaming tax. The new tax seeks to charge 10 percent tax on bet and lotto wins. Speaking to Citi Business News, a member of the Gaming Committee at the GRA, Spio Abedu said the taxes will be deducted at…
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Teenpreneurs encouraged to explore innovative ideas towards building resilient future
Young entrepreneurs are being encouraged to explore innovative ways to build their competencies geared towards accelerating economic development. According to the Executive Director of the Springboard Show Foundation, Comfort Ocran providing more support for young people to develop new skills will help bridge the gap between academia and industry. Speaking on the sidelines of the…
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Ghana’s 2022 imports exceeded exports by GH₵4.5bn
Ghana faced a notable trade imbalance in 2022, as indicated by the inaugural Trade Vulnerability Report from the Ghana Statistical Service. The report reveals that the country’s imports exceeded its exports by GH₵4.5 billion, underscoring a significant economic challenge. The most striking contrast emerged in September, during which imports surpassed exports by over GHS4 billion.…
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Ghanaians to pay more for rice as imports face 40% reduction
Consumers of rice may in the coming days pay more for the grains as importers of rice are projected to face about 40 percent reduction in imports. This is according to the Competitive Africa Rice Platform. It comes on the back of India’s decision that it would restrict exports of non-basmati rice to calm domestic…
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Managers of Regal, Kegali Hotels arrested over Tax non-compliance
The domestic tax revenue unit of the Ghana Revenue Authority (GRA) has apprehended the managers of Regal Hotel in North Kaneshie and Kegali Hotel in Dansoman, Accra. The charges against them stem from their failure to issue Value-Added Tax (VAT) invoices to their customers, a critical requirement under tax regulations. The enforcement effort is a…
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T-bills auction: Government records 15.3% oversubscription
The Government of Ghana’s T-bill offer across 91-day to 364-day bills was oversubscribed by approximately 15.3% relative to the target size of GHS 3.065 million at last week’s auction. The offer attracted total bids estimated at GHS3.54 billion, with the Treasury accepting 99.21% of the bids valued at GHS3.51 billion. According to figures from the…
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About 2000 youth to benefit from garment and apparel module by YEA
Government has revealed that about 2000 youth are set to benefit from the phase one of the Garment and Apparel Module being rolled out by the Youth Employment Agency (YEA). This, government maintains will contribute to sustainable jobs geared towards reducing the high unemployment rate in the country. Speaking at the launch of the new…
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Petrol to sell at GHS12.97, diesel GHS13.43 per litre – COPEC
The Chamber of Petroleum Consumers (COPEC) is predicting that fuel prices may go up by 5.7% within the second pricing window of August 2023. The product is currently being sold at the pumps at an average price of GH¢12.45 per liter. COPEC says the price of LPG will also increase to about 11.9% within the…
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Officials of Quick Credit, Marwako picked up for privacy breaches
Officials of three (3) companies have been picked up for questioning for allegedly breaching data protection laws. This was captured during the commencement of an enforcement exercise of data laws by the Data Protection Commission. The companies are Hisense Ghana Limited, Quick Loan and micro-Investments limited and Marwako Fast Food. Quick Credit Investment and Micro-Credit…
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BoG not mandated to report daily activities to Parliament – Kyei-Mensah-Bonsu
The Majority Leader, Osei Kyei-Mensah-Bonsu, has strongly criticized the Minority Leader, Dr Cassiel Ato Forson, for calling for the resignation of the governor of the Bank of Ghana (BoG) and his deputies amidst allegations of financial mismanagement. The Minority in Parliament is demanding the resignation of Dr Ernest Addison and his deputies, levelling grave allegations…