Tag: GRA
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Retailers dismiss price hikes over 3% VAT Flat rate
The implementation of the 3% VAT Flat rate took off on the 1st of July this year. Its implementation was however not received well by some business associations. But a month into the implementation of the scheme, Citi Business News visited some business districts in Accra to find out its impact on the prices of…
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Vodafone pays 30% of tax arrears to GRA
The National Communications Backbone Company (NCBC), a subsidiary of Vodafone, has paid 30% of its debt to the Ghana Revenue Authority (GRA). Officials of the GRA confirmed this to Citi Business News. “The National Communications Backbone Company raised issues concerning the tax audit that was conducted and in conformity with the tax law, they were…
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Businesses caution massive job cuts over 3% VAT Flat Rate
Some manufacturers are contemplating possible job cuts with the continuous implementation of the 3 percent VAT Flat rate scheme. The businesses say the tax is affecting their profit margins hence the decision to reduce the labour sizes to stay relevant in business. The options of job cuts is among the concerns raised by some manufacturers…
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National digital address system to start vigorously – Veep
Vice President, Dr Mahamadu Bawumia has assured that government will launch the national digital address system in a few months’ time. This he says will be merged with a post code to ensure the unique identification of various addresses. “In the next couple of months, we want to launch the National digital address system for…
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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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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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Businesses lament GRA’s ‘low’ tax coverage
Business Associations have lashed out at the Ghana Revenue Authority (GRA), for failing to retrieve taxes from shop owners and small tax payers. According to them, majority of shop owners do not pay taxes and the GRA have turned a blind eye on them. The businesses also argue that the development is affecting the general…
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GRA to sell off Vodafone assets within 14 days over tax default
The Ghana Revenue Authority (GRA) has served notice that it will be compelled to sell off the assets of National Communications Backbone Company (NCBC) within the next fourteen days should the company fail to provide proof to benefit from capital gains tax reliefs. The NCBC, which is a subsidiary of Vodafone Ghana is reported to…
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PIAC demands swift clearance of $ 2.4bn energy sector debts
The Public Interest and Accountability Committee (PIAC) has warned that the troubles confronting Ghana’s energy sector may deepen soon if the huge debts in the sector are not settled. PIAC argues that the debt owed particularly by the Volta River Authority (VRA), greatly affected operations for 2016 considering the declining global oil prices. In the…
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Cancel deferment of Amended VAT implementation – Parliament to GRA
Parliament has asked the Finance Ministry and the Ghana Revenue Authority (GRA) to halt the suspension of the implementation of the Amended 3% VAT for local businesses. It follows an acceptance by the House for the two entities to meet over the implementation of the amended tax. The 1st Deputy Speaker, Joseph Osei Wusu who…