Tag: Francis Timore Boi
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Tax analyst urges operationalization of tax appeals board
Tax analyst Francis Timore Boi has voiced serious concerns about the non-operationalization of the tax appeal board. He emphasizes the pivotal role an efficient tax board plays in promoting equitable tax assessments and fortifying the government’s revenue collection endeavors. In an exclusive interview with Citi Business News, Francis Timore Boi urgently appealed to authorities to…
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New tax on plastic packaging in Ghana–Will this solve the problem of plastic waste?
The use of plastic materials is convenient, and it is the preferred choice by both manufacturers and consumers due to its lightweight and its ability to store and prevent food contamination but globally, the effect of plastics on the environment is devastating especially when it is improperly managed. Because Plastic packaging is typically used for…
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Francis Timore Boi writes: All you need to know about tax on lottery and gambling
The inclusion of lottery or gambling income as taxable income is strongly influenced by a country’s choice of tax system. For those countries with worldwide tax system, gambling winnings are in principle, subject to tax whether they arise from windfall (occasional transactions) or from a professional gambler. When tax is imposed on gambling and lottery,…
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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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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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Too many tax policy inconsistencies worrying – Tax Analyst
Tax Analyst, Francis Timore Boi has bemoaned the trend of tax policy inconsistencies from the government. According to him, the regular announcement of tax policies followed by a withdrawal of same isn’t good for the government. Since 2017 till date the government has made major U-turns in connection with some key policy proposals, including the…
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Tax analyst urges gov’t to increase minimum taxable income to GH¢500
Tax Analyst, Francis Timore Boi has urged the government to consider increasing the salary amount that is taxed at zero percent to a minimum of GH¢500. Currently, employees who receive GH¢365 and below as monthly salary or ¢4,380 as annual salary do not have their earnings taxed. This follows the amendment (no. 2) of the…
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New Tax Court will assist in revenue mobilization efforts – Tax Analyst
The coming establishment of a tax court should greatly aid government’s efforts at meeting its Domestic Non-oil Tax Revenue for 2021. That’s according to a tax analyst. According to the 2021 budget, Total Revenue and Grants for this year is pegged at GH¢72.4 billion, equivalent to 16.7 percent of GDP, out of which Domestic Revenue…
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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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‘Talk tax’ likely to be increased in 2021 budget – Tax analyst
Ahead of the 2021 budget presentation, Ghanaians should be open to the possibility of the introduction of new taxes or an increase in some existing taxes. That’s according to a tax analyst, Timore Francis Boi. Steps taken by government to deal with the impact of COVID-19 on businesses and individuals have seen government’s expenditure ballooning, pushing…