Tag: PEF
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PEF seeks revision of upfront tax payments
The Private Enterprise Federation (PEF) has made a strong case for the GRA to review the current time frame for businesses to remit their taxes on the sale of products. The CEO of PEF, Nana Osei Bonsu explains that the current regime has impacted adversely on businesses due to delayed payments for the provision of…
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Businesses divided over success of Tax Amnesty law
Businesses have expressed mixed reactions to the new Tax Amnesty policy being implemented by the Ghana Revenue Authority (GRA). Some have cast doubt over the policy’s ability to reduce tax evasion while others believe the policy could increase tax compliance. The concerns were raised at a session on the relevance of the Tax Amnesty Law…
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Industry targets a drop in BoG’s policy rate today
Businesses are seeking that the Bank of Ghana (BoG) will reduce its lending rate again as it announces a policy rate today, Monday, November 27, 2017. They believe that the development should trickle down on interest rates paid on loans they contract from their banks going forward. The expectations are ahead of the Monetary Policy…
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Businesses want stimulus package released by midyear
Private sector businesses have impressed on the government to make its stimulus package for businesses, available by the end of June this year. Among the numerous interventions by the NPP government to make local businesses more competitive, is the provision of financial support to some distressed businesses in the private sector. But the businesses are…
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Stable economy to push down interest rates – PEF
The Private Enterprise Federation has lauded the move by the Bank of Ghana to reduce the MPC rate by 100 basis points although they admit that a further reduction would have had a greater impact on their businesses. The new figure (22.5%), was announced by the Governor, Dr. Ernest Addison after supervising his maiden Monetary…
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100 business proposals considered for 1 district, 1 factory
At least one hundred businesses have submitted projects for the government’s one district one factory policy awaiting concluding for take-off. This is according to the Trade and Industry Minister, Alan Kyerematen. He explains that the businesses have also passed the approval of the respective Municipal Assemblies as fitting the criteria for the ideal businesses under…
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Declining inflation, ‘stable’ cedi to signal drop in policy rate
Economists are highly expectant of a reduction in the policy rate by the Monetary Policy Committee (MPC) of the Bank of Ghana as the Committee prepares to announce its new rate next Monday. They cite the declining inflation, relative stability of the cedi and government’s pro business agenda as the basis for their claims. “Obviously…
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Private sector will relive under my administration – Nana Addo
President Nana Akufo-Addo has reaffirmed his government’s plan to develop the country’s private sector to propel economic growth. To this end, an NPP government will lessen the burden that has impeded the growth of the sector. According to Nana Addo, the private sector is a critical component of economic development. He explains that the reduction…