Russia is close to finalising a deal to build helicopters in India, an executive said Tuesday, a move that would boost Narendra Modi’s ambitions to manufacture defence hardware locally. India is the world’s top defence importer and is seeking to revamp its Soviet-era military equipment against an increasingly assertive China. Prime Minister Modi has been … Read more
Finance Minister Ken Ofori Atta has announced Ghana will miss three key economic targets in 2017. The three include the country’s growth target as well as fiscal deficit target. Another economic indicator that will not be met is the country’s primary balance. According to the Finance Minister the country’s primary balance is currently in the … Read more
The third generation of the Ghana Customs Management System (GCMS 3) will be rolled out in the first quarter of this year. The move, which is being powered by the Ghana Community Network (GCNET) will provide a tighter revenue generation systems to the Customs, Excise and Preventive Service (CEPS). It is part of efforts to … Read more
Finance Minister Ken Ofori Atta has announced Ghana will miss three key economic targets in 2017. The three include the country’s growth target as well as fiscal deficit target. Another economic indicator that will not be met is the country’s primary balance. According to the Finance Minister the country’s primary balance is currently in the … Read more
The Finance Minister has hinted that some levies which have been described as “nuisance taxes” will be removed when he presents the 2017 budget. Ken Ofori-Atta is expected to present the NPP government’s first budget, before the middle of March 2017. However, there are fears that with rising public debts which have reached almost GHC120 … Read more
Republicans in the U. S. House of Representatives are considering possible changes to the design of their controversial border adjustment tax proposal to accommodate industries worried about being harmed by the provision, a top lawmaker said on Friday. The measure, a centerpiece of the House Republican tax reform blueprint backed by Speaker Paul Ryan, is … Read more
Terrorism has been at the top of US agenda since George Bush but what you don’t realize is that it is nothing but a “cover up” for the debt crisis. Let us assume that there was no terrorism … if we took out terrorism from news headlines from the past decades then do you know … Read more
The Ghana Revenue Authority (GRA) has intensified its works to improve data gathering at the country’s borders. The move is part of efforts aimed at blocking revenue leakages while it improves tax collection for development. Speaking at the celebration of the International Customs Day, the Director General of the Ghana Revenue Authority, Mr. George Blankson … Read more
Senior Minister Nominee, Yaw Osafo Marfo, has described some taxes as nuisance. According to him, these taxes serve as a hindrance to production and more so the efforts of even doing the collection is not worth it. He made this known when he appeared before the Vetting Committee of Parliament on Friday. Osafo Marfo who … Read more
Dear Honourable Minister: Your job is revered but unenviable. The task ahead of you is daunting because you have inherited a slow moving, indebted and jobless economy. In October 2013, the UK-based Economist Intelligence Unit (EIU) described Ghana’s fiscal state as a “mess”. Rating agencies agreed and responded with Ghana’s sovereign credit downgrades. It has … Read more
The Government of Ghana has announced that some taxes will be eliminated in the 2017 budget. The budget, the first under the Akufo-Addo-led administration, would be presented to parliament by March 31. Government intends to reduce or in some cases, completely remove some taxes as part of a proposed tax reform. For instance, government is … Read more
Mr Frank Aboagye Danyansah, the Chief Executive Officer of Danywise Estate and Construction, has called for an amendment of the Ghana Revenue Authority (GRA) Tax Exemption for real estates. He said this tax exemption favours only developers venturing into affordable housing. In an interview with the Ghana News Agency on Friday, Mr Danyansah also called … Read more
A member of the ruling government and Member of Parliament for New Juaben South, Dr. Mark Assibey-Yeboah, has stated that the government’s priority in the first six months will be to stabilise the macro-economic environment. “It is our desire to control inflation, our debt stock is growing; we can’t keep on borrowing, we have to … Read more
A member of the governing New Patriotic Party and Member of Parliament for New Juaben South, Dr. Mark Assibey-Yeboah, has stated that the government’s priority in the first six months will be to stabilise the macro-economic environment. “It is our desire to control inflation, our debt stock is growing; we can’t keep on borrowing, we … Read more
Professor of Economics and Director of Research at the African Center for Economic Transformation, Dr. Joe Amoako–Tuffour has cautioned named Finance Minister Ken Ofori Atta to resist the temptation of printing money to finance government expenditure. According to him, such moves will have a dire impact on the fiscal stability of the government, since history … Read more
Ghana’s ability to maintain its recent progress on fiscal consolidation will be an important factor in sovereign ratings assessment following last week’s elections, says Fitch Ratings. “Failure to narrow the budget deficit and stabilise government debt/GDP would be negative for Ghana’s credit profile,” said the international credit rating agency in a statement issued in London … Read more
Businesses are likely to experience some tax cuts and in some cases total scrap in 2017 following the coming on board of a new regime. During its campaign the President elect Nana Akuffo- Addo as well as his running mate Dr Bawumia asserted that they will embark on a number of tax reforms when elected … Read more
Real Estate Developers are admonishing the President elect, Nana Akufo Addo to “Walk the Talk” when he is sworn in as President on January 7th , by fulfilling his promise of abolishing the 5% VAT on Real Estate sales. The VAT, which was initially 17.5% was reduced to 5% by the present government but the … Read more
Real Estate Developers are admonishing the President elect, Nana Akufo Addo to “Walk the Talk” when he is sworn in as President on January 7th , by fulfilling his promise of abolishing the 5% VAT on Real Estate sales. The VAT, which was initially 17.5% was reduced to 5% by the present government but the real … Read more
By Esther A. Armah Tax isn’t sexy. Nobody dreams of taxes. You do not salivate imagining what you might do to taxes or what they might do to you. But, tax matters. And a three day workshop on tax and women in Africa led by the International Centre for Tax and Development revealed that women … Read more