Tag: GHBudget
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Stakeholders at ports call for punitive regulatory regime to check unregulated charges
Stakeholders at the countries ports including importers and exporters along with freight forwarders, say the need for a clear regulation of activities at the ports, is an issue that needs to be addressed or touched on in the upcoming budget reading on Friday. For months now, these stakeholders have been agitating and using all channels…
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2020 Budget: Statement to feature tax policies, expenditure rationalization
The Finance Minister, Ken Ofori-Atta, will today present to Parliament what is considered to be a critical budget of the incumbent government as the country goes into an election next year. One of the major highlights of the budget will be some pronouncements on taxes; as well as efforts to ensure that government’s economic gains…
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No new taxes will be introduced in 2020 budget — Finance Ministry
Government has announced it will not introduce new taxes in next year’s budget which is scheduled to be presented to parliament in November this year. The ministry has begun taking stakeholders inputs into the 2020 budget to enable it to address some of the concerns citizens including Civil Society Groups have about the country’s expenditure…
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Parliament approves GH¢6.37 billion supplementary budget
Parliament has voted to approve Finance Minister’s request for GH¢6.37 billion as the supplementary budget for the 2019 fiscal year. The Minister had stated that the funds are needed for the government to prosecute its planned programmes and initiatives for the second half of the year. More than GH¢6 billion of the amount approved will…
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Government commended for abolishing luxury vehicle tax
Some residents of Ho have praised the government for the removal of the luxury vehicle tax. They said the gesture meant the government was listening to the cry of the masses and had withdrawn the tax, as announced at the mid-year review of the budget on Monday. The residents were sharply not happy about the…
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Mid-year budget: New tax measures to yield GH¢349 million
The Finance Minister Ken Ofori-Atta presenting the mid-year budget announced a number of tax measures to make up for the poor revenue performance. According to the Minister, the Communication Service Tax popularly known as Talk Tax has been increased from six to nine percent. There were also increases in the rates of the road fund,…
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Alex Mould Writes: Revising take or pay agreements may jeopardise power sector investments
The ill-advised statement by the Finance Minister to renegotiate all take-or-pay power agreements to take-and-pay will certainly have negative repercussions. It will scare away prospective investors not only in the power sector but even more in the development of any future gas Exploration and Production (E&P) field. If investors agree to take-and-pay agreements, the government…
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![Gov’t to use more than GH¢6.15 bn [96.6%] of supplementary budget to pay debts](https://citibusinessnews.com/wp-content/uploads/2019/05/Ken-Ofori-Atta-1.jpg)
Gov’t to use more than GH¢6.15 bn [96.6%] of supplementary budget to pay debts
The Finance Minister Ken Ofori-Atta on Monday, July 29, 2019, asked Parliament to approve an amount of GH¢6.37 billion being the supplementary budget for the 2019 fiscal year. While questions have been raised regarding what these additional funds will be used for, Citi Business News analysis of the mid-year budget shows that more than GHS6.15…
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#GHBudget: Ten things to note from the 2019 Mid-Year Budget
The Finance Minister Ken Ofori-Atta on Monday, July 29, 2019, appeared in Parliament to present government’s mid-year budget and supplementary estimates in line with the Public Financial Management Act, 2016 (PFMA) Act-921. Citi Business News unpacks the budget presented into 10 salient points. GDP growth has been revised to 7.1 percent from 7.6 percent The…
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Gov’t withdraws luxury vehicle tax
Government is proposing to Parliament the withdrawal of the luxury vehicle tax introduced in 2018. While presenting the 2019 mid-year budget review in Parliament on Monday, the Finance Minister, Ken Ofori-Atta said the government is taking such move following the concerns raised over the tax. “Government in 2018 introduced the Luxury Vehicles Levy to raise…