Category: Top Stories
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1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey
Director of the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey is concerned that the 1.5% rate of the Electronic transfer levy (E-Levy) will prevent government from achieving the GHC 6.9 billion target set for the levy. President, Nana Akufo-Addo, signed into law the E-levy Bill, two days…
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Deputy Trade Minister clarifies govt’s objectives for Youth Enterprises project
Deputy Minister for Trade and Industry in charge of Industry, Michael Okyere Baafi has clarified government’s objectives for incorporating the Enabling Youth Enterprise under the One District One Factory Policy. With this initiative, young people are put into groups and funded to roll out mainly agribusiness industries. The project with funding from the African Development…
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ISSER to lead new research initiative to deepen digital financial inclusion
The Institute of Statistical Social and Economic Research (ISSER) at the University of Ghana is set to undertake a four-year multi-million-dollar research initiative. The Retail Finance Distribution (ReFinD) Research Initiative is focused on deepening digital financial inclusion and improving women’s access to financial services in low- and middle-income countries (LMICs). The project is led by Prof. Peter…
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Akufo-Addo recognizes contribution of ICUMS to enhanced revenue generation
President Nana Akufo-Addo has singled out for praise the Integrated Customs Management Systems (ICUMS) for its efficiency and ability to shore up revenues at the ports. The system runs the popular paperless system at the Ghana ports. Also known as the UNIPASS electronic system operated by Ghana Link, the system has generated more revenue for…
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Gov’t to set up vehicle financing scheme to boost purchase of locally assembled cars
President Akufo-Addo has disclosed plans by the government to establish a vehicle financing scheme aimed at supporting the purchase of locally assembled vehicles. This move, according to the President, is to reduce both the importation of vehicles and the heavy reliance on second-hand vehicles. Nana Akufo-Addo was speaking at the unveiling ceremony of Japan Motors’…
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Akufo-Addo commissions Nissan’s brand new Navara assembling plant
The President of Ghana, Nana Addo Danquah Akufo-Addo has officially opened the brand-new state-of-the-art Nissan Navara assembly plant in Tema on Thursday, March 31st, 2022. The plant is the culmination of a journey that began in 2018 when Nissan became the first mover in the country to sign a memorandum of understanding with the government…
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Delay in passing E-Levy likely to affect GHC 6.9 billion target – Ofori-Atta
The Finance Minister Ken Ofori-Atta says it is unlikely that government will be able to achieve the GHC 6.9 billion target set for the Electronic Transfer Levy (E-levy). According to him the many delays and hurdles experienced in parliament before the E-levy bill was passed will affect the ability of the Ghana Revenue Authority (GRA)…
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Transactions to be affected by E-levy
As part of efforts to expand the country’s tax base, raise Ghana’s tax to GDP ratio and support government’s efforts at building an entrepreneurial country, government in the 2022 Budget, announced the introduction of the Electronic Transfer Levy (E-levy). The E-levy is a tax imposed on electronic transfers charged at the time of transfer. The…
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![Stakeholders call for subsidies, tax exemptions to boost adoption of electric cars [Video]](https://citibusinessnews.com/wp-content/uploads/2022/03/The_Rising_Trends-of-Electric-Vehicles-1.jpg)
Stakeholders call for subsidies, tax exemptions to boost adoption of electric cars [Video]
Stakeholders in Ghana’s nascent electric car space are calling for tax breaks and subsidies to boost the adoption of electric cars in the country. According to the Energy Commission of Ghana, there are over a thousand full electric and semi-electric vehicles on the country’s roads. But is there room for increased adoption, and what needs…
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Gov’t in denial over situation with food security in Ghana – GAWU reacts to SONA
The Ghana Agricultural Workers Union (GAWU) says that Ghana is far from being secure in food production despite the progress made in the agriculture sector under this government. The remarks follow the comments made by President Akufo-Addo about Agriculture during the delivery of his state of the nation address on Wednesday, March 30, 2022. Ghana…