Category: Top Stories
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Gaming industry players call for more consultation on proposed gaming tax
Players in the gaming industry have called for a broader stakeholder engagement with the government ahead of plans to tax their business. According to them, taxing the industry may have an adverse effect on their business. The move to tax the industry follows the government’s concerns that Ghana loses over GHS300 million annually in revenue…
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Don’t approve new fuel levies – COPEC to MPs
The Chamber of Petroleum Consumers (COPEC) has asked that Members of Parliament throw out the new levies on petroleum products. According to the Executive Secretary of COPEC, Duncan Amoah, there are loopholes in the revenue generation of the state that the Finance Ministry needs to find solutions to rather than bringing in new levies. “I…
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2021 petroleum revenue forecasts pegged at US$886 million
Government is expecting to realize roughly US$886 million as petroleum revenue for 2021. This was announced by the caretaker Finance Minister and Minister of Parliamentary Affairs, Mr. Osei Kyei-Mensah-Bosnu during the 2021 budget presentation in Parliament on Friday, March 12, 2021. The amount is made up of royalties of US$201.0 million, Carried and Participating Interest…
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Passage of Tax Exemptions Bill will boost revenue mobilization – Stakeholders
Some stakeholders have reiterated the need for Government to fast-track the passage of the Tax Exemptions Bill to ensure monies lost to tax exemptions are mopped-up to aid government’s revenue mobilization. Many have described the new revenue targets, especially, the non-oil tax revenue of GHC 53.6 billion, as high considering the marginal increases in revenue…
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Government will get TOR back on its feet – Energy Minister
The Minister of Energy, Matthew Opoku Prempeh, has expressed the government’s commitment to ensuring the country’s only Refinery, Tema Oil Refinery, TOR, is up and running. The refinery has not been operational for a while now due to several challenges, including the inability of the entity to pay its workers. But the Energy Minister says…
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30% corporate income tax rebate not enough incentive – Hotels Association
The Ghana Hotels Association says its expectation was not met in the recently delivered 2021 budget statement. According to the association, it expected more policies that will help the ailing industry get back on its feet. Speaking to Citi Business News, President of the Ghana Hotels Association, Dr Edward Ackah-Nyamike said the hotel industry will…
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Poor people will suffer most from newly-proposed taxes – Joe Jackson
Economist Joe Jackson is concerned that Ghanaians at the lower level of the economic ladder will be the worst hit by the government’s proposed new taxes and levies. He said while the taxes apply to every Ghanaian, they will come out as very harsh to the poor since the majority of them use consumables and…
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Telcos Chamber urges telecoms union to reconsider strike
The Ghana Chamber of Telecommunications has urged the Telecom and IT Professionals Union to consider dialogue instead of striking over a pay dispute. “While the Chamber acknowledges and respects the right of TIP to negotiate for favourable conditions of services, the body is appealing to the union to continue to pursue their demands through negotiation…
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We need clear policy to promote made-in-Ghana goods – Konfidants
Konfidants, an international business advisory firm, is urging the Ministry of Trade and Industry and its agencies such as the Ghana Enterprises Agency (Formerly NBSSI), National Entrepreneurship Innovation Program (NEIP), Standards Authority to collaborate with the FDA and other stakeholders such as industry associations to come up with a holistic policy and program framework to…
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Citi TV, UPSA to hold post-budget dialogue on March 18
Citi TV and the University of Professional Studies, Accra (UPSA) will hold a post-budget dialogue on Thursday, March 18. The theme for the programme is “Building Consensus for Effective Implementation of National Economic Policies.” The dialogue, scheduled to start at 4 pm on the day, will consist of a panel discussion and, question and answer…