Tag: Tax
-
‘Only’ two million taxpayers in Ghana not enough – Deputy BoG boss
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari says it’s unsustainable for only two million taxpayers to carry the tax burden of the over 30 million Ghanaian population. Even though there are over 16 million users of the various mobile money platforms indicating financial activity for which taxes should be filed,…
-
Take advantage of incentives, tax exemptions and rebates – Tax analyst urges businesses
Businesses continue to be encouraged not to lose sight of the government’s tax waivers to enable them to grow and sustain their operations. Tax analyst and Senior Lecturer at the University of Ghana School of Law, Dr. Abdallah Ali-Nakyea, says there exists an array of incentives, tax exemptions, and rebates that, Micro Small and Medium…
-
MSMEs contribute only 4% to total domestic tax revenue – PEF Research
Findings by the Private Enterprise Federation (PEF) in collaboration with the Open Society Initiative for West Africa (OSIWA) Project have revealed that Micro, Small and Medium Enterprises (MSMEs) in the country contribute only 4 percent to total domestic tax revenue despite making up about 92 percent of registered companies in the country. According to them,…
-
SMEs to pay taxes online in next NPP government – Bawumia pledges
The Vice President of Ghana, Dr. Mahamudu Bawumia, says if the New Patriotic Party (NPP) is given the nod to govern the country for another term, small businesses will pay their taxes online. This forms part of government’s efforts to digitalise every sector of the country. At the official launch of the NPP manifesto at…
-
Tax Analyst kicks against calls for VAT reduction for aviation and hospitality sectors
A Tax Analyst, Timore Francis Boi, has kicked against suggestions that the Value Added Tax (VAT) of 12.5 percent should be reduced for players in the hospitality, tourism, and aviation sectors due to the severe impact of COVID-19 on those sectors. His call comes after global auditing giant, Deloitte, in its post-Mid-year Budget analysis report,…
-
COVID-19: Gov’t must come up with a stimulus package to cushion Ghanaians – Ken Thompson
Following the economic devastation being caused by the novel Coronavirus pandemic, the Chief Executive Officer of Dalex Finance, Ken Thompson, has called on government to support businesses that have been tax compliant. According to him, this should be part of a bigger emergency plan to bring relief to Ghanaians immediately, and safeguard the economy from…
-
We’ll continue to pursue companies evading taxes
The Ghana Revenue Authority, GRA, says it will continue to pursue companies that continue to evade taxes. The assurance follows an exercise which led to the closing down of Hippo Transportation Company in Tema for defaulting in custom duties expected to be paid on their goods at the warehouses for the past three years. A…
-
Parliament passes Bills for NHIL, GETFund levies
Parliament has passed the four tax amendments to reflect the reality of government policy as announced in the Mid-Year Budget Review. The Bills are the Ghana Education Trust Fund (GETFund) Amendment Bill, The National Health Insurance Levy (NHIL) Amendment Bill, The Income Tax Amendment Bill and the Value Added Tax Amendment Bill. A final Bill, the…
-
Only 47,000 out of 2m pay direct taxes in Kumasi – Adu Boahen
Although Kumasi in the Ashanti Region has about two million residents who engage in income-earning activities, only 47,000 of them pay direct taxes to the state. This was disclosed by a Deputy Minister of Finance, Charles Adu Boahen at Citi FM’s Economic Outlook programme held at the University of Ghana today, Thursday. “There’re a lot…
-
GRA closes down Metro TV for owing GH¢2.3m in taxes
The Ghana Revenue Authority (GRA) on Wednesday, June 6, 2018, locked up the offices of Metro Television. The TV station currently owes taxes amounting to some 2.3 million cedis. According to the GRA, the station refused to heed to its persistent warnings and has defaulted in paying its taxes since 2014. Also, records from the…