Tag: Kweku Kwarteng
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Gov’t targets a review of port charges to meet regional standards
The Ministry of Finance says it is working to ensure that levies and charges placed on imports into Ghana are at par with others within the West African sub-region. A Deputy Minister of Finance, Kwaku Kwarteng, explained in an in an interview with Citi Business News that though Ghana is a signatory to several trade…
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Government likely to miss its GH¢57.7 billion revenue target — Kweku Kwarteng
Government is lagging behind its annual revenue target of GH¢57.7 billion cedis, the Finance Ministry has revealed. The government was unable to meet its target for the first quarter of this year mobilizing a little over GH¢10 billion which is about GH¢2 billion short of its GH¢12 billion target for the first three months of…
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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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Gov’t fails to yield to pressure over tax stamp
Businesses who fail to comply with the implementation of the Excise Tax Stamp by 1st March, 2017, will have their goods seized and subsequently dealt with by the law. This is the indication from a Deputy Finance Minister, Kweku Kwarteng. He argues that government can no longer hold back the implementation of the Excise Tax…
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Domestic air travel shoots up by 26%
Deputy Finance Minister, Kwaku Kwarteng has disclosed that there has been a 26 percent increase in patronage of domestic airlines since the abolition of the VAT on domestic air fares. The 2017 budget heralded the abolition and review of some 12 key taxes. They included the 17.5% VAT on domestic air fares, the 17.5% VAT…
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Ghana meets only 1 of 11 IMF targets
It is emerging that Ghana may have met only one out of the eleven targets set with the International Monetary Fund (IMF) under the extended credit facility program. The targets were among others to guide the government in achieving key economic growth standards and restore economic stability. Ghana in 2015, entered into an agreement for…
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Govt to pay all outstanding arrears by 2019
Government has set an ambitious target to complete payments of all arrears owed contractors by 2019. This follows a validation process to audit the arrears bequeathed the NPP by the erstwhile NDC administration. The Finance Minister, Ken Ofori Atta disclosed this during his midyear budget review to Parliament on Monday. According to him, the settlement…
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NDC strategy collapsed IMF program – Kwaku Kwarteng
A Deputy Finance Minister, Kwaku Kwarteng, has blamed the past NDC government for what he says is the failure of the economic assistance program with the International Monetary Fund (IMF) to address Ghana’s economic challenges. According to him, the strategy adopted by the past government was not an appropriate means to ending the prevailing economic…
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Finance Ministry defends new tax exemption rules
Despite the increased number of concerns for government to restructure the tax exemption directive for importers, Deputy Finance Minister, Kwaku Kwarteng has stressed that his outfit will not revert the decision of implementing the move. According to him, the reversal will only bring back the numerous illegal acts at the ports. Importers and exporters called…