The Chairman of the Economic Management Team, Vice President Dr Mahamudu Bawumia, and the Finance Minister Ken Ofori-Atta are leading a government delegation to the IMF/World Bank Spring Meetings being held from April 18 – 28. The delegation is made up of officials from the Bank of Ghana, led by the Governor, Dr Ernest Kwamina … Read more
The Chairman of the Economic Management Team, Vice President Dr. Mahamudu Bawumia and the Finance Minister Ken Ofori-Atta are leading a government delegation to the IMF/World Bank Spring Meetings. The delegation is also made up of officials from the Bank of Ghana led by the Governor, Dr. Ernest Kwamina Yedu Addison; the Chairman of the … Read more
Ranking Member of the Finance Committee of Parliament, Ato Forson has disclosed that the ruling government has borrowed in excess of US$3.0billion in its first 100 days in government. “In less than 100 days of being in office, the NPP has exceeded this notorious feat and deception again. NPP now holds another new record in … Read more
Deputy Minority Leader, James Klutse Avedzie, has said that government’s decision to reduce aspects of the Energy Sector Levies will further delay the payment of the web of debt that entangles the energy sector. While the National Electrification Scheme Levy (NESL) goes down from 5% to 2%, the Public Lighting Levy (PLL) reduces from 5% … Read more
Deputy Minister designate for Information, Kojo Oppong-Nkrumah has rejected new transport fares introduced by the various transport unions describing it as unacceptable. Oppong-Nkrumah, who is a member of the Finance Committee of parliament insists the transport unions have no justifications for the upward review of transport fares. The Ofoase-Ayirebi Member of Parliament was speaking on … Read more
Parliament has passed the Energy Sector Levies Amendment Bill which will review the two components of the levies downwards. National Electrification Scheme Levy and the Public Lighting Levy have also seen some reductions. While the National Electrification Scheme Levy goes down from 5% to 2%, the Public Lighting Levy has been reduced slightly from 5% … Read more
PARLIAMENT has passed the Energy Sector Levies Amendment Bill which will review the two components of the levies downwards. National Electrification Scheme Levy and the Public Lighting Levy have also seen some reductions. While the National Electrification Scheme Levy goes down from 5% to 2%, the Public Lighting Levy has been reduced slightly from 5% to … Read more
Member of Parliament for Ofoase Ayirebi and a member of the Finance Committee in Parliament, Kojo Oppong Nkrumah has lamented over the 15% increment in transport fares. According to him, it would have been prudent for operators to maintain their old prices following the new tax regime [tax cuts] which has taken effect. The new … Read more
Parliament has passed the Energy Sector Levies Amendment Bill which will review the two components of the Levies downwards. While the national electrification scheme levy goes down from 5% to 2%, the Public lighting levy reduces from 5% to 3% per kilowatt hour of electricity charged on all categories of consumers. The reduction in the … Read more
Parliament last Friday passed the Appropriation Bill, 2017, which has given the Minister of Finance the authority to withdraw money not exceeding GH¢64,116,793,031 from the Consolidated Fund and other funds for the running of the country up to December 31, 2017. The passage of the Appropriation Bill, 2017 became imperative following Parliament’s approval of various … Read more
Parliament has passed the Value Added Tax (VAT) Amendment Bill, 2017, which would require all taxable retailers and wholesalers to account for VAT at a flat rate of three per cent. The rate would be calculated on the value of the taxable supply unless the Commissioner General of the Ghana Revenue Authority (GRA) directs otherwise. … Read more
A ranking member of the Finance Committee of Parliament is chiding government for the octopus style it has adopted in raising revenue to implement its campaign promises. Casiel Ato Forson insists the government’s decision to cut down on statutory payment and its plan to operate a centralised system for all internally generated funds for hospitals, … Read more
The Minority Caucus in Parliament has warned that the robust Ghanaian economy built by the immediate past NDC government led by Mr. John Dramanai Mahama will soon melt down following the introduction of some austerity measures and huge budgetary allocation to service Government Machinery by President Nana Addo Dankwa Akufo-Addo. The President, they noted, will … Read more
Parliament, Wednesday, granted GHC398million worth of tax reliefs to help reduce the burden on the few Ghanaian individuals and companies captured under the tax net. Those tax cuts were made possible following the approval of the; Special Petroleum Tax (Amendment) Bill, 2017 Customs and Excise (Petroleum Taxes and Petroleum Related Levies) (Repeal) Bill, 2017 Income … Read more
Parliament, Wednesday, granted GHC398million worth of tax reliefs to help reduce the burden on the few Ghanaian individuals and companies captured under the tax net. Those tax cuts were made possible following the approval of the; Special Petroleum Tax (Amendment) Bill, 2017 Customs and Excise (Petroleum Taxes and Petroleum Related Levies) (Repeal) Bill, 2017 Income … Read more
The Income Tax (Amendment) Bill, 2017 has been passed by Parliament to remove the tax on gain from the realisation of securities of companies listed on the Ghana Stock Exchange. This will help deepen the capital market and draw more investors on to the stock market. The bill seeks to amend the Income Tax, 2015 … Read more
A bill that seeks to amend the Special Import Levy, Act, 2013 (Act 861) to remove the levy payable on specific imported goods has been approved by Parliament. A report presented by the Committee on Finance, under the signature of the Chairman, Dr. Mark Assibey-Yeboah, captioned, report of the committee on finance on the Special … Read more
Finance Minister, Ken Ofori-Atta, says he is optimistic about achieving the macro-economic targets contained in this year’s budget statement. In the 2017 budget statement, which was approved by Parliament this week, government is aiming to reduce its budget deficit from 8.7 percent to 6.5 percent of Gross Domestic Product (GDP) in 2017; an end-year inflation … Read more
Your Excellency, the President of the Federal Democratic Republic of Ethiopia Your Excellency the President of the African Union Commission The President of FIFA Your Excellencies, Ambassadors accredited to the African Union FIFA Council Members CAF Executive Committee members The President of the Ethiopian Football Federation Delegates to the General Assembly Dear business partners Ladies … Read more
Parliament of Ghana has approved the 2017 Budget Statement and Economic Policy of the Government of Ghana. This follows a majority voice vote on the motion for the approval of the budget statement which was moved by the Finance Minister, William Ken Ofori-Atta on behalf of the President of the Republic, Nana Addo Dankwa Akufo-Addo … Read more