Tag: Ghana Business News
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GNPC begins processes to relocate to Takoradi
The Ghana National Petroleum Corporation, GNPC, has disclosed it has commenced processes to relocate the company’s operations to Takoradi in the Western region. According to the CEO of the GNPC, Dr. Kofi Koduah Sarpong, the outfit is embarking on this action to bring the development associated with the oil find and its operations, closer to…
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GUTA’s support for 3% VAT compromising – Importers
Business Associations protesting the implementation of the 3% VAT Flat rate scheme are skeptical of a positive outcome for the appeals to get the tax scrapped. They contend that the apparent support by the Ghana Union Traders Association (GUTA) for the VAT could limit the chances of getting their grievances addressed. Business Associations comprising the…
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4th IMF tranche to stabilize cedi fall – Analysts
Investment fund managers are upbeat of the impact of the disbursement of the fourth tranche of the IMF’s extended credit facility, on the stabilization of the cedi. They believe the move should also bring some stability to the economy and bring respite to businesses. Finance Minister, Ken Ofori Atta has hinted of a meeting between…
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3% VAT will simplify tax system – Ken Ofori Atta
Finance Minister Ken Ofori Atta has pledged that government would work with stakeholders in the economy for a clearer understanding on how the VAT Flat Rate Scheme functions. According to him, the rationale behind the policy is geared towards simplifying the tax system and does not impose double or cascading tax. The implementation of the…
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Danquah Institute gets new Executive Director
The Management of the Danquah Institute has appointed Dr. Kingsley Nyarko as its new Executive Director. His appointment took effect on July 1, 2017. This was confirmed in a letter copied to Citi FM. “You will be required to lead the Institute by providing effective leadership, promoting the ideology of the Danquah-Dombo-Busia tradition, fostering responsible…
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We will manage oil revenue to benefit all – Nana Addo
President Akufo Addo has committed to the efficient use of Ghana’s oil revenue to give value for money and protect the interest of Ghanaians. According to him, Ghana has no reason not to improve the lot of citizens with a decade of commercial oil exploration. The President was also hopeful the judicious use of the…
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Employers bemoan lack of essential skills among labour
The Ghana Employers Association (GEA) has made fresh appeals for the government to review the course structure at the various educational levels to provide employable skills. In its latest research, the Employers Association concludes that its members are still faced with the challenge of recruiting critical skills in IT, literacy, team working among others. While…
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Ken Ofori Atta faces Parliament over 3% VAT controversy
Parliament’s Finance Committee has invited the Finance Minister, Ken Ofori Atta to respond to concerns by various business associations over the implementation of the 3% VAT Flat rate scheme. The invitation also comes on the back of the numerous petitions by the businesses to Parliament on the impact of the VAT on their operations. The…
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Lack of proper street naming impedes tax mobilisation – GRA
The Ghana Revenue Authority (GRA) has listed the absence of street names as a major challenge that hinders and impedes tax collection in Ghana. The Authority says the development remains one of their biggest constraints especially as they find it difficult to identify tax payers to retrieve tax revenue from. Business Associations had also earlier…
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Contaminated fuel: Committee to advice on way forward – Boakye Agyarko
The Energy Minister, Boakye Agyarko has indicated that the eight member committee tasked to look into the alleged sale of 5 million litres of contaminated fuel to Movenpiina, would now offer advice to the Minister on how to avert the possible sale of contaminated or off-spec products. According to him, the mandate also comes after…