Tag: GRA
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GRA to set up int’l commodity prices monitoring desk
The Ghana Revenue Authority (GRA), has said that it is setting up a desk at its headquarters which is going to be dedicated to monitoring the prices of commodities on the world market. The desk, according to the GRA, will help it reconcile prices of gold and other commodities to that are reported by local…
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Uber drivers on sitdown strike over 25% commission
Scores of Uber drivers massed up at the offices of Uber in Accra on Wednesday, April 25, 2018. The drivers who are on a sit down strike, are protesting against what they say is the unfair treatment by the transport services company. According to them, the twenty-five percent retention of all transport fares remitted to…
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TIN implementation to hit a snag if … – Analyst
A Tax Analyst with Ali Nakyea & Associates, William Demitia is warning that the implementation of the Taxpayer Identification Number (TIN) by the GRA could hit a snag if the Authority fails to coordinate with government agencies that provide essential services to the public. The GRA is restricting access to services including acquiring a Driver’s…
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Proposed cargo fumigation levy suspended indefinitely
Government has ordered the indefinite suspension of the proposed fumigation levy for shippers. The policy, was aimed at fumigating all imported cargo upon arrival at the ports. However, a statement signed by the Information Minister, Mustapha Hameed and copied to Citi Business News said, “After extensive consultation between the government and various stakeholders, the Economic Management Team…
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Govt suspends import VAT on phones, day old chicks, others
Government has suspended the charging of import VAT on some 64 commodity groups effective Wednesday, March 21, 2018. The decision was arrived at after extensive consultation between the government and various stakeholders. Citi Business News understands that the charges have been implemented since the 1st of March this year. The traders of such commodities comprising,…
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GRA targets GH¢500m revenue from Tax Amnesty
The Ghana Revenue Authority (GRA) has revealed that it seeks to rake in about 500 million cedis from the tax amnesty exercise it is conducting. The GRA also says the tax amnesty to defaulters which begun in January 2018 until September 2018, will allow all defaulters discharge their obligations voluntarily without fear of prosecution for…
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Tax stamp: Two companies shut down, more to follow
More businesses which are affected by the excise tax stamp policy are to shut down their operations in the coming weeks over high cost of operation. The situation is expected to lead to possible shortages and eventual increase in prices, if authorities fail to step in. The warning is the latest from the Food and…
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Businesses yield to enforcement of excise tax stamp
Business operators have expressed their readiness to comply with the three day ultimatum set by the Ghana Revenue Authority (GRA) to fix the excise tax stamp on their products by Monday, March 5, 2018. This comes contrary to earlier resistance to the implementation of the policy. The comments also follows GRA’s monitoring of the compliance…
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GRA gives tax stamp defaulters 3 day ultimatum
The Ghana Revenue Authority (GRA) has given manufacturers and importers of excisable goods a three day ultimatum to fix the tax stamps on their products or have their goods seized. The decision comes on the back of a monitoring exercise on the compliance of the tax stamp policy beginning today, 1st March 2018. The tax…
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Parliament to pass another law to track tax evasion
Parliament is considering the passage of yet another law to track tax revenue of business owners who operate both in and out of Ghana. The Standard for Automatic Exchange of Financial Account Information Law will allow the Ghana Revenue Authority (GRA) to request for tax information on the operations of such business that happen outside…