Tag: Ghana Business
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Private sector pushes for optimal inflation target
Private sector businesses have strongly advocated an optimal inflation target to guide economic policies that support private sector growth. They argue that the current drop in inflation while other factors such as interest rates and depreciation remain unchanged, make it difficult for them to plan and expand their business operations. “I think that as a…
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We’ll prosecute defaulting taxpayers in mining sector – GRA
Suppliers of mining equipment in Ghana who default in filing tax returns risk prosecution if they fail to reconcile with the Ghana Revenue Authority (GRA). It follows plans by the GRA to clamp down on defaulting tax payers especially in the mining sector, this year. Under the law, mining companies are entitled to refunds of…
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GRA closes down Packplus Ltd for owing GH¢2.6m
The Special Revenue Mobilisation Task force of the Ghana Revenue Authority (GRA) has closed down PackPlus International Limited over tax default between 2013 and 2015. The company has defaulted in paying its taxes between the three year period amounting to GH¢2,642,874.17. The action carried out on Wednesday, is in fulfillment of the provisions of Section 34…
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![Accra commuters dump Ayalolo buses for trotro [Audio]](https://citibusinessnews.com/wp-content/uploads/2017/02/BRT-buses-1.jpg)
Accra commuters dump Ayalolo buses for trotro [Audio]
One of the key reasons for the inauguration of the Ayalolo Transport System late last year was to supplement the efforts of Ghana’s commercial transport industry as well as provide time-bound transport services to commuters in Accra. But four months after its inauguration it appears most commuters in the city are not patronising the services…
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IMF extension likely to affect disbursements
Ghana risks a likely delay in the disbursement of funds from the International Monetary Fund from this year, following plans to extend the deal. This is the caution from Economist, Dr. Eric Osei Assibey. According to him, the Fund will grant the request upon satisfying itself of the government’s ability to meet set targets. “I…
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IES predicts fuel shortage within two weeks
The Institute of Energy Security (IES) wants the National Petroleum Authority (NPA) to be swift in averting what it describes as an imminent fuel shortage in the next two weeks. The development follows the low levels of fuel stocks by the Tema Oil Refinery and the Bulk Oil Storage and Transportation (BOST). The Institute also…
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Developing Western region: Minister Nominee to demand specific allocation
The Western Regional Minister Nominee, Dr. Kwaku Afriyie has disclosed plans to push for legislations to back specific allocation of revenue from the country’s mineral resources to the development of the region. He contends that the region’s contribution to GDP from its enormous resources undeniably places in a critical position to merit specific developmental support.…
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Brexit, Trump policies to drive China to Ghana’s gold mines
China’s decision to seek investment options in Africa and Latin America will lead to the massive growth highly expected of Ghana’s mining sector this year. The development will come on the back of the high levels of uncertainties associated with the administration of US President Donald Trump and the decision by Britain to leave the…
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Chocolate sales surge over Valentine Day celebration
Chocolates are one of few special supplies that are popular on Valentine Day. Despite Ghana being a producer of chocolate, it faces competition from imported chocolates which have taken over the retail chocolate industry. Citi Business News has been finding out how well Ghanaian chocolates are faring on the shelves of shops especially on this…
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Businesses demand cuts in new import levy
Businesses in the import and export trade are demanding a reduction in the new EXIM levy on imports. They argue that the development will increase the cost of operation and overburden final consumers. “Absolutely the charge is very high; they could have still maintained the 0.5 percent usually been paid by importers…We’ve seen the goodwill…