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Gov’t conducts forensic audit on foreign companies evading taxes

Finance Minister, Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta has disclosed that experts have been contracted to work alongside the Ghana Revenue Authority (GRA)  to conduct forensic audits of companies in priority sectors and undertake audits of multinational enterprises. The move according to him is aimed at reshaping transactions that result in the nation losing huge monies from multinational companies. Delivering the 2018 Mid Year ...

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Mixed reactions meet taxes on luxury vehicles (Audio)

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Car owners and importers of vehicles in the country are divided on the possible introduction of a customs tax on luxury vehicles. The Minority in Parliament earlier this week launched a scathing attack on the Akufo Addo administration describing it as an insensitive government, for planning to introduce new taxes and increase existing ones, including a 10 percent tax on ...

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Importers decry high demurrage charges again

exporters in ghana

Importers and Exporters are appealing to government to ensure shipping lines reduce their charges on demurrage at the ports. According to them, they are being exploited by the shipping lines as they charge huge demurrage on their containers which erodes all their profits on a daily basis. Enumerating the effect on their operations, Executive Secretary of the Importers and Exporters ...

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Finance Minister presents Mid-Year Budget next week

Finance Minister, Ken Ofori-Atta

The Ministry of Information has told Citi Business News the Finance Minister, Ken Ofori Atta will be presenting the mid-year budget review to parliament next week. The Information Ministry is however yet to announce the day. The Finance Ministry has already told Citi Business News government will be introducing new tax measures to boost domestic revenue mobilization. But speaking to ...

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Air Namibia’s comeback to boost trade & tourism

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Air Namibia is aiming at improving trade relations between ECOWAS and other regional blocs within Africa with its resumption of operations in Ghana. The airline welcomed its inaugural flight for the new operations last Friday with major commitments to boost air travel. Air Namibia is coming back to Ghana after closing down its operations in 2014. The airline had been ...

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17.5% tax cut increased domestic air travel – Aviation Minister

Aviation Minister - Cecilia Dapaah

The Aviation Minister, Cecilia Dapaah, has told parliamentarians that the removal of 17.5 percent VAT on domestic airfares has increased the number of passengers who board domestic flights by 9.64 percent. According to her, the numbers moved up from some 290,000 to over 320,000 passengers. Government in its 2017 budget scrapped the VAT on domestic air travel driving down the ...

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Veep to make or unmake GRA’s new cargo tracking policy

bawumia

The proposed implementation of the Cargo Tracking Notes (CTN) system at the ports by the GRA may suffer another setback unless the office of the Vice President moves in to avert any such issue. The GRA has directed that from July 1, all imports into Ghana must bear the unique CTN numbers before they can be cleared. The GRA also ...

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British Airways heeds to demand for quality service in Ghana

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British Airways has announced a series of changes to its Ghana operations which are aimed at improving its service delivery within the country. The airline company says the decision also follows the important nature of the Ghanaian market, the Accra-London routes. British Airways has received heavy backlash from its Ghanaian passengers for quite a number of times. The concerns have ...

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Port officials allay concerns over Joint Inspection

Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai

With only two weeks to the implementation of the joint inspection on July 1, 2018, port officials say they are set for the exercise despite concerns that the exemption of some agencies could pose health and security challenges. The joint inspection which was earlier scheduled to start in June, was rescheduled to make way for stakeholder engagements. It forms part ...

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Foodstuff prices to stay high despite drop in fuel prices – Esoko

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Esoko Ghana has dispelled any possibility of a drop in food prices following the reduction in the prices of petroleum products. Prices of petroleum products were reduced in the second week in June with a second prediction of a two percent drop. Prior to this, statistics released by Esoko showed that prices went up as much as 7 percent for some ...

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Citi Business News