Category: Tax
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Decentralizing your operations will boost revenue mobilization – GRA told
The Ghana Revenue Authority (GRA) has been urged to intensify its decentralization efforts to enhance domestic resource mobilization and boost tax compliance in the country. This call comes from the Retired Customs Officers Association. Addressing attendees at the 4th Annual General Meeting of the Retired Customs Officers Association in Accra, Major General Carl Modey Rtd.,…
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Ministry of Finance urges businesses to be tax compliant
A Deputy Minister of Finance, Abena Osei Asare has reiterated calls for businesses and individuals to be tax compliant . She explains that domestic revenue mobilization has become critical given the current economic position of the country. Speaking at the Launch of the National Public Financial Management (PFM) organized by the Institute of Chartered Accountants…
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Ghana’s New Taxes: How businesses, owners and consumers can thrive despite the challenges
As Ghana’s economy continues to face significant challenges, the government recently introduced three new taxes – the Excise duty amendment bill 2022, the Growth and sustainability levy bill, and the income tax amendment bill 2022 – to raise revenue and meet the criteria for a $3 billion IMF programme staff-level agreement. However, these new taxes…
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Over-concentration on consumption taxes hurting our revenue mobilization drive – Tax analyst
Ahead of the presentation of the 2022 mid-year budget review on Monday, July 25, 2022, government is being urged to announce clear measures that will lead to the collection of more property and income taxes compared to consumer taxes. According to Tax Analyst, Francis Timore Boi, the over-reliance on consumer taxes in the country is…
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Stakeholders call for increased transparency in how E-Levy funds are used
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Dr. Ing. Kenneth Ashigbey, has backed calls for transparency in the manner in which funds accrued from the Electronic Transfer Levy (E-Levy) are used. One of the sources the government was hoping would help it raise much-needed revenue is the E-Levy, but information from government’s…
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Use Mid-Year budget review to reduce E-Levy rate – Prof. Quartey
Ahead of the presentation of the 2022 mid-year budget review, the Institute of Statistical, Social and Economic Research (ISSER), is calling for a reduction in the current charge rate of the Electronic Transfer Levy (E-Levy). The presentation of the Mid-Year budget review by the Minister of Finance Ken Ofori-Atta, which is expected to come off…
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E-Levy won’t be terminated because of IMF bailout – Gov’t assures
As government commences its in-person meetings with the delegation from the International Monetary Fund (IMF) team, led by Mission Chief for Ghana, Carlo Sdralevich, starting, Wednesday July 6, 2022, it is assuring that the controversial Electronic Transfer Levy (E-Levy) will not be terminated. According to the IMF, it stands ready to assist Ghana to restore…
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Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst
As stakeholders express concern about the low level of revenue being generated from the Electronic Transfer Levy (E-Levy), a tax analyst is warning that government is likely to withdraw the tax measure if the revenue yields remain low. The implementation of the E-levy, which commenced in May, was originally expected to help bring in about…
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Vendors bemoan negative impact of E-Levy after 1st month of implementation
After a month of implementation of the Electronic Transfer Levy (E-Levy), mobile money agents and users of the platform in Accra continue to bemoan its impact on their lives. Checks by Citi Business news show that while some are trying to find ways around the payment of the levy others are hoping things take a…
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SIM cards and devices of E-Levy fraudsters will be blocked – Telcos Chamber
A week after the implementation of the Electronic Transfer Levy (E-Levy), the Ghana Chamber of Telecommunications is warning that the SIM cards, as well as the devices of persons defrauding people using the E-Levy, will be blocked when they are found out. According to reports from the Ghana Chamber of Telecommunications, some unscrupulous persons have…