The Vice President has challenged Ghanaians to honour their civic obligations to the State by filing their tax returns in order to mobilise domestic revenue to help meet our development aspirations. Mobilising adequate domestic revenue would also help achieve President Nana Addo Dankwa Akufo-Addo’s vision of a Ghana Beyond Aid, which includes striving to be … Read more
From April 1, persons without a Tax Identification Number (TIN) will among others, not be able to open a bank account, procure a drivers’ licence or a passport as well as initiate a case at any court across the country. Again, such persons cannot clear goods at the ports, register their land documents with the … Read more
The Commercial Division of the High Court in Accra hearing the tax assessment case brought against the Ghana Revenue Authority (GRA) by Vodafone Ghana has adjourned hearing to March 8, 2018. The adjournment was at the instance of the Plaintiff, Vodafone Ghana following the inability of the GRA to be in court on Tuesday, February … Read more
The White House on Thursday abandoned a proposal to create a border adjustment tax which it had touted as a way of dealing with unfair competition from imports, but was strongly opposed by US industry. “While we have debated the pro-growth benefits of border adjustability, we appreciate that there are many unknowns associated with it … Read more
India is bracing for upheaval as it storms ahead with its most ambitious reform in decades — transforming the world’s fastest growing major economy into a single market for the first time. The long-awaited goods and services tax (GST) rolls out Saturday even as businesses complain they are ill-prepared for the massive changes about to … Read more
Manchester United manager José Mourinho has denied tax fraud in Spain, saying the government had ratified his tax affairs. Mr Mourinho was accused by prosecutors of defrauding Spain of €3.3m (£2.9m; $3.6m) in taxes while he was Real Madrid coach from 2011 to 2012. A prosecutor said Mr Mourinho, 54, did not declare income from … Read more
Government has stated that it would only take a second look at the newly introduced administrative measure in the tax exemption system, after it concludes a comprehensive review of the entire regime. The measure which was announced in the 2017 budget statement requires business operators who are eligible for exemption from duties and taxes, to … Read more
A former Vice Chancellor of the University of Ghana, Professor Ernest Aryeetey has criticized successive governments over what he says is the adoption of tax reforms as short term policies towards economic development. He argues that the relatively longer periods of maturity of tax reforms have compelled governments to rush through the process of implementing … Read more
The Ghana Revenue Authority(GRA) has announced that it will slap the statutory 125% interest fine on persons and companies that fail to pay their withholding taxes monthly. According to the GRA, failure to pay withholding taxes on due dates will attract an interest of 125% fine of the statutory rate, compounded monthly on the outstanding … Read more
Indian police have arrested the alleged mastermind of a multi-million dollar racket in which callers posing as US officials tricked Americans into paying bogus tax bills, officials said. Sagar Thakkar, 24, was making more than 10 million rupees ($155,000) a day at the height of the scam, which operated for nearly a year before it … Read more
A new tax regime came into effect from March 31, 2017, following the amendment of some tax laws. Changes to the tax system follows the repeal of the Customs and Excise (Petroleum Taxes and Petroleum Related Levies) Act of 2005, Act 685, and amendment of the Special Petroleum Tax Act, 2014 (Act 879). Following the … Read more
A Ghanaian lawyer, Elikplim L. Agbemava, has commenced an action at the Supreme Court seeking clarification on some of the benefits enjoyed by Article 71 office holders as well as other public servants in that category. In his writ sighted by citifmonline.com, the lawyer further wants presidential staffers who benefit from salaries, allowances, and privileges almost like an … Read more
India’s lower house of parliament on Wednesday passed four supporting bills that will pave the way for a landmark tax reform and transform the world’s fastest growing economy into a common market. The government aims to launch the goods and services tax (GST) law by July 1, replacing the decades-old patchwork of federal and state … Read more
Alhaji Collins Dauda, Member of Parliament for the Asutifi South has stated that the government of the New Patriotic Party had a duty to reduce the prices of petroleum products following the amendment of the legislation relating to levies in the industry. His request follows Parliament’s approval of four amendment Bills to scrap taxes as … Read more
Boeing Co (BA. N) and about 90 other aerospace companies are urging Congress to overhaul the U.S. tax system, saying a set of changes Republicans proposed last year – including a big cut in the corporate tax rate – will make them more competitive globally and help create U.S. jobs. Boeing Chief Executive Dennis Muilenburg … Read more
Millions of vulnerable South Africans risk missing out on vital social security payments from next month in a scandal over a government contract, as the BBC’s Milton Nkosi reports. “I’m extremely worried. I’m even having sleepless nights. I don’t know what I would do without this money. My family will starve,” Magebatho Mamaile tells the … Read more
A US government-commissioned review concluded Caterpillar intentionally committed tax and financial reporting fraud, the New York Times reported Wednesday. Federal agents last week raided the Illinois headquarters of the US industrial giant, which failed to account for $7.9 billion in overseas income for tax purposes, according to a report by Leslie Robinson, an accounting professor … Read more
THE Ghana Revenue Authority (GRA) mobilised tax revenues amounting to GHS183,559,837.70 between January 1, 2016, and December 31, 2016, following the introduction of the Special Revenue Mobilisation Task Force in 2015. Comparatively, this figure is GHS44,732, 633.79 or 32.22% above the 2015 collection of GHS138,827,203.91. Mr Henry Sam, the National Compliance Coordinator of the GRA, … Read more
A Tax Policy Advisor Mr. Kofi Nti has been named the new Commissioner-General of the Ghana Revenue Authority (GRA). Nti, a former staff of the Ministry of Finance during the administration of ex-President J. A Kufuor, will replace George Blankson. He is a close associate of Vice President Dr. Mahamudu Bawumia and believed to be … Read more
A Tax Policy Advisor Mr. Kofi Nti has been named the new Commissioner-General of the Ghana Revenue Authority (GRA). Nti, a former staff of the Ministry of Finance during the administration of ex-President J. A Kufuor, will replace George Blankson. He is a close associate of Vice President Dr. Mahamudu Bawumia and believed to be … Read more