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 … Read more
The twenty biggest banks in the eurozone booked over a quarter of their 2015 profits in tax havens, with Luxembourg and Ireland the favourite destinations, a report by Oxfam said on Monday. The findings come as the tax affairs of major multinationals are under the microscope after revelations in the LuxLeaks and Panama Papers scandals … Read more
On the Ghana Stock Exchange (GSE,) the stock market’s benchmark composite index rose by 13.21 points to close at YTD return of 10.58%. The rise in the broader market return was largely due to the GHS 0.54 gains recorded on SCB which is one of the large cap equities on the Accra bourse. Year-on-year comparative analyses … Read more
Stock market analysts are predicting a rebound of the local bourse and the bonds market with an eventual scrapping of the capital gains tax. They contend that the move should attract investors to Ghana following a likely increase in the US Fed rate. According to a Research Analyst with First Banc Financial Services, Benjamin Amoah-Adjei, … Read more
Ghana Stock Exchange has called on the incoming government to review the capital gains tax The Ghana Stock Exchange has called on the incoming government to review the capital gains tax. The tax which took effect on January 01, 2016 is part of the new Income Tax Law 2015. It is paid when one makes … Read more
The Agricultural Development Bank (ADB) has officially listed on the Ghana Stock Exchange following the successful completion of its Initial Public Offer (IPO) on December 5. The bank’s listing makes it the 40th company and the fourth local bank to be listed on the Ghanaian bourse. The Agricultural Development Bank successfully raised about GHC325 million … Read more
The Ghana Stock Exchange (GSE) has impressed on the incoming NPP government to abolish the capital gains tax when it finally assumes power in 2017. According to managers of the market, the continuous imposition of the tax is a disincentive for investors and has also adversely affected the market. “Our particular worry is that even … Read more
The Ghana Stock Exchange (GSE) has impressed on the incoming NPP government to abolish the capital gains tax when it finally assumes power in 2017. According to managers of the market, the continuous imposition of the tax is a and has also adversely affected the market. “Our particular worry is that even within West Africa, … Read more
U. S. financial markets witnessed wild swings after U.S. Republican Donald Trump won the country’s presidential election, but then stabilized and regained momentum as Wall Street further digested information about the country’ s election results. “It is not quite a mandate, not with a popular vote loss, but it is a far different outcome than … Read more