Business

Government has released some GH¢40 million to support the efforts by the private sector in bridging the housing deficit in the country. The fund which has been made available to some selected banks in the country is expected to add to additional funding to be provided by private estate developers. Deputy Minister of Finance, Charles Adu Boahen disclosed this at ...

The Telecoms Chamber says the upfront charge of the 9 per cent Communications Service Tax has been reversed as at November 26. This is according to the CEO of the Chamber, Ken Ashigbey who tells Joy Business that all players in the telecommunication space will to this effect unveil a new cost of data and call tariff in line with the ...

Ghanaians’ approval ratings on indicators of their government’s economic performance have declined sharply compared to 2017, a new Afrobarometer survey by the Ghana Center for Democratic Development (CDD-Ghana) shows. Few citizens are content with the country’s economic situation and their personal living conditions, and a majority say the country is headed in the wrong direction. Key findings in CDD’s Afrobarometer survey ...

SEND Ghana, a Policy Research and Advocacy Civil Society Organization has put out an in-depth analysis of the 2020 Budget Statement and Economic Policy which was presented by the Minister of Finance on November 13, 2019. The Organization’s   post budget analysis which was presented to the media last Wednesday by Dr Emmanuel Ayifah, Deputy Country Director, draws government’s attention to ...

IMPACT’s new report reveals India to be one of the largest gold smuggling hubs in the world. As a result, gold that is tied to conflict, human rights abuses, and corruption in Africa and South America is entering legal international markets through India. In its latest report, A Golden Web: How India Became One of the World’s Largest Gold Smuggling Hubs , ...

The government will not introduce any new taxes in the 2020 fiscal year, Finance Minister Ken Ofori-Atta noted while reading the 2020 budget.  Instead, Ken Ofori-Atta said the government would restructure the tax system and develop a comprehensive revenue policy and strategy to address the challenges of revenue mobilisation. This will involve lending the necessary support to the Ghana Revenue Authority ...

An Associate Professor in the Department of Economics at the University of Ghana is calling for the re-assessment of government spending as well as a consideration for improving its tax effort. Prof Abena D. Oduro delivering the fourth Kwadwo Baah-Wiredu Memorial Lecture said government’s budget is skewed towards consumption expenditure which makes it difficult to achieve its target for development expenditure. “The fiscal position must ...

The Senior Minister, Yaw Osafo-Maafo, has disclosed that Ghana spent $1.35 billion of its revenue to import rice in 2017. Delivering a speech at the consultation forum on the ‘Ghana Beyond Aid for Northern Ghana in Tamale’ on Wednesday, the Minister stated that proceeds made from exports are used to import rice although the country was capable of cultivating and producing the crop. “We have natural ...

The Communications Ministry has ordered Mobile Network Operators (MNOs) to stop passing on the 9% Communication Service Tax (CST) to subscribers. In a letter addressed to the National Communications Authority (NCA), and published in full below, the Communications Ministry stated that the CST should be treated the same way VAT, NHIL, GETFUND levy and all other taxes and levies imposed on entities ...

Taxes on utilities could go up in a government attempt to raise revenue to fight filth across the country, the Deputy Sanitation Minister has hinted. “It is one of the possibilities,” Michael Yaw Gyato told Evans Mensah on JoyNews’ PM Express programme on Monday. He said some options that “the people of Ghana can look at is: we can put ...