Tax Archives - Page 2 of 3

17 Apr

Akufo-Addo Signs 3 New Tax Bills Into Law

wontumionlineNewsBills, Kojo oppong nkrumah, Nana Akufo-Addo, Tax

President Akufo-Addo has signed into law the three new tax bills recently passed by Parliament. Information Minister. Kojo Oppong Nkrumah made this revelation on JoyNews’ The Probe. According to him, the document has since been given to the Clerk of Parliament for the rest of the administrated processes to kick in. The three new taxes are the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, and the Income Tax Amendment Bill 2022. The Majority in Parliament said the measure formed part of moves to raise GH¢4 billion annually in revenue. Government also says the bills are…

11 Apr

Conduct Extensive Assessment Before Introducing Taxes – Tax Expert To Government

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A Senior Tax Partner at PwC, Abeku Gyan-Quansah has advised government to conduct an extensive impact assessment and incidence analysis before introducing or amending any portion or portions of the country’s tax regime in future. He said such an assessments and analysis, if conducted, should be made known, to inform and educate public discourse in the advent of the introduction of any new tax. His call was premised on the approval by Parliament of three major tax Acts last week, which is targeted at bolstering domestic revenue. The bills are the Excise Duty and Excise Tax Stamp (Amendment) Bill, 2022,…

06 Apr

Target The Many Businesses That Aren’t Paying Taxes And Leave AGI tax-Compliant Companies Alone – Akpeloo

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Executive Member of the Association of Ghana Industries (AGI) Tsonam Akpeloo has revealed that there are some businesses in Ghana that are not paying taxes. Those businesses should be identified and dealt with instead of targeting AGI members that are tax compliant, he said. He was speaking on the Ghana Tonight show on TV3 Wednesday, April 5 in connection with the three revenue bills – Excise Duty, Growth and Sustainability Levy and Income Amendment Bills – that have been approved by Parliament. Akpeloo said “Our view is that government must look at its own expenditure and reduce its expenditure to reflect the realities of the…

06 Apr

Impose Tax On Imported Plastics – Experts Urge Government

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Environmental sustainability and climate change advocates have called on government to introduce a new tax on the importation of plastics. They said such a move would be in response to growing concerns over the environmental impact of plastic waste, particularly on human and animal health. It will also discourage the use of plastic and promote more sustainable alternatives, as the tax will be levied on all imported plastic materials and will be enforced through Customs regulations. The experts included security and real estate consultant and president of the Leonard Group of Companies, Franklin Leonards; John Appiah, President-African Chamber of Youth;…

16 Mar

Road Toll Rates Should Be Added To Road Worthy Charges- Kwabena Marfo Suggests

wontumionlineFeatured, News, TrendingKwabena Marfo, Road Tolls, Tax

A Communicator for the New Patriotic Party (NPP), Kwabena Marfo, has suggested that road tolls be paid through road worthy fees. According to him, every motorist pays road worthy and therefore it would have been in the best interest that if the rate for road tolls is added to the charges of road worthy. Explaining this on Movement in the morning show on Movement TV/ Wontumi Radio, he said that there are people who are living in areas where they don't get to use the road toll and hence do not pay but are benefiting from good roads constructed with…

11 Jan

Benchmark Discount Reversal: Govt Can Rake In GH¢9bn At Ports – Tax Analyst

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Tax analyst, Geoffrey Ocansey is projecting that government could generate about GH¢9 billion with the implementation of the withdrawal of the discount values at the ports. He explains that the amount was lost at the ports annually due to the application for a markdown of benchmark value and other customs rulings. The Ghana Revenue Authority announced the complete reversal of the benchmark policy effective 1st January 2023. The policy which was implemented in 2019 saw a 50% reduction in the benchmark value of some 43 imported items and 30% on cars. In an interview with Citi Business News, Geoffrey Ocansey opined…

13 Oct

Our Concerns Are Legitimate- Government Should Consider Flat VAT Rate – GUTA

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The National Financial Secretary for Ghana Union of Traders Association (GUTA), Nana Kwabena Pepprah who doubles as GUTA Greater Accra Chairman has pleaded with government to consider the payment of flat Value Added Tax (VAT) rate to boost the payment of taxes. Speaking with Kwaku Dawuro on Movement In The Morning Show, Nana Kwabena Pepprah stressed that GUTA is not against the payment of VAT but against the disparities that exist in the payment. Speaking he said that ‘’we support the payment of taxes and VAT because it is the only way we can build our economy. GUTA's challenge is…

11 Oct

Intensify Tax Education- Kafui Amegah Tells GRA

wontumionlineFeatured, News, TrendingGRA, Kafui Amegah, Kumasi, Tax, VAT

A communicator of the New Patriotic Party (NPP), Kafui Amegah(NPP) has said Ghana Revenue Authority(GRA) needs to intensify education on the payment of tax to boost payment. His comment comes after some shops in Kumasi shut down to protest what was described as 'killer' taxes and VAT on their businesses. Speaking to Kwaku Dawuro on Movement In The Morning Show, Mr Amegah said that ''GRA needs to educate Ghanaians on taxation and the Value Added Tax(VAT). Most people are not aware they need to pay income tax and VAT on every profit they make. The country stability rest on taxes,…

25 Aug

Ghanaians Know That The NPP Is The Only Party That Could Fix The country- Lakulaku

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A member of the New Patriotic Party’s (NPP) communications team, Abubakar Suleman popularly known as Lakulaku, has said that even Ghanaians know that the NPP is the only party that could make the country prosper..... Speaking to Kwaku Dawuro on movement in the morning show, the former NASARA coordinator therefore pleaded with the members of the party to come together because they could only break the eight with a united front. "I will plead with all party members, especially those who feel offended by an action of another member or executive, to calm down and let go of every issue, so…

25 Aug

Ghanaians Want Development But Fail To Pay Tax- Daniel Nkrumah (VIDEO)

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Constituency first Vice Chairman for the ruling New Patriotic Party(NPP), in the Okaikwei South, Daniel Nkrumah, has said that the failure of the Electronic Transaction Levy(E-levy) to generate the expected revenue is due to the many adopted ways by Ghanaians to dodge the tax by and not because it's a bad tax. According to him, Ghanaians are always crying for development but are not ready to pay tax. "Nobody enjoys paying tax but always lamenting over the lack of developmental projects in our communities. We have borrowed so much and in a bid to ensure that we are able to generate…