Tag: Ghana Business News
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Biz tax returns deadline set for April 2018
Companies and Partnerships that have not yet filed their Annual returns for the last three years (2015 to 2017) are to do so before Monday April 30, 2018. This is a directive from the Registrar General’s Department (RGD). Failure to adhere to the directive after the deadline will attract a rollover of penalty for the…
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Blame Forestry Commission for collapsing timber industry – Apaak
The Member of Parliament for Builsa South, Dr. Clement Apaak has alleged that the Lands Ministry and the Forestry Commission has granted permits to companies to cut timber in some forest reserves. According to him, the three regions of the North have been hard hit by the illegal cutting of timber, despite the area being zoned as…
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Industry intensifies pressure to get 15% petroleum tax scrapped
Analysts have intensified appeals for government to scrap the Special Petroleum Tax on petroleum products. They argue this will give more meaning to attempts to reduce the plight of consumers following rising global oil prices. The comments follow a recent NPA announcement of a seventy percent reduction in the price recovery and stabilization levy calculated…
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IMF approves Ghana’s Public Sector Reforms
The International Monetary Fund (IMF) has approved the Public Sector Reforms for Ghana to be implemented in 2018. The reforms are part of efforts to reduce the bureaucracies in Ghana’s public sector and improve efficiency. The Fund has been critical of Ghana’s rising public expenditure which it contends has partly contributed to some economic challenges…
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MTN is 2nd best company in Ghana Club 100
MTN has been named as the second best company in Ghana for this year’s Ghana Club 100. The telecom company assumed the position after a vigorous exercise which ranked the various organizations that entered the competition based on some selected criteria. In addition to being adjudged the second best company for this year, MTN also…
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Ghana’s local fish supply to increase by 100,000 tonnes
Government is seeking to increase the local fish supply by 100,000 metric tonnes by 2018. This is in line with the objective of reducing the country’s overdependence on imported fish. The Minister of Fisheries and Aquaculture, Elizabeth Afoley Quaye, who disclosed this also maintained that the effort will correct the balance of trade deficit that…
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Fuel prices remain unchanged at pumps
The prices of petroleum products will remain unchanged at the pumps at least for the first two weeks in December, despite a reduction in the price stabilization and recovery levy. As a result, the Chamber of Petroleum Consumers (COPEC) is urging consumers to disregard reports of reduction in fuel prices due to the development. The…
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Barclays announces final sale of stake in Africa
Barclays has announced it will on Tuesday, December 5, sell a 7 percent stake in its Johannesburg-based Barclays Africa Group. The bank announced this latest decision on Friday, December 1, 2017. Some analysts believe the move could likely be the last in a series of such sales as Barclays ends more than 90 years as…
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Newmont tops Ghana Club 100 rankings
Newmont Golden Ridge Limited has been crowned as the number one company at this year’s edition of the Ghana Club 100 awards. The company beat off competition from over ninety other companies to assume the coveted position. This is the second time the mining company has assumed the coveted position. Aside winning the topmost award…
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GRA closes down law firm for owing GH¢1m
The Ghana Revenue Authority has closed down law firm, Peasah Boadu for owing taxes to the tune of 1,000,787 cedis. The taxes in arrears are Corporate Income Taxes (CIT) and Pay as You Earn (PAYE). The exercise was carried out by the Domestic Tax Revenue unit of the GRA in a bid to clamp down…