Employers who continue to pay their workers cash are being advised to stop the practice, especially because of the corona virus pandemic. This is because experts have argued that cash could be a mode of transmitting the virus.
Financial institutions have been encouraging the public to turn to electronic payment...
Despite the coronavirus pandemic biting economies around the world hard, with many seeing a contraction - especially the developed ones, Ghana’s economy was able to withstand the destructive power of the disease, as it rather experienced growth; albeit slower than same period the previous year – thanks to the...
To root out corrupt revenue collection officials in the country, the Ghana Revenue Authority (GRA) and Ministry of Finance have established a Tax Audit and Quality Assurance Unit.
A bold move, according to some industry voices, the new department will deal with all complaints of corruption and ensure that the...
The National Pensions Regulatory Authority (NPRA) has assured of efforts to address the concerns of public sector unions over the low pension amounts paid by the Social Security and National Insurance Trust (SSNIT).
The unions, totalling 12 which came together to form the Forum for Public Sector Registered Pension Schemes...
An Oxfam report believes that in view of the ravages caused by coronavirus on economies, it will be important for managers of the economy to adopt drastic measures which may be unpopular with the masses, but could yield the country some revenue to close the widening fiscal gap.
Some of...
An opportunity has presented itself for the country’s large informal sector to be formalised. The Trades Union Congress (TUC) is urging the state to use the database it is collating for SMEs to access the stimulus package it recently pledged the micro, small and medium enterprises, to formalise the...
In the second week of December last year, one issue that emerged at the energy sector front, particularly the downstream sector in Ghana and was discussed in the media was the increment of Bulk Oil Storage and Transportation (BOST) Company Limited’s margin.
The government, through the downstream regulator, National Petroleum...
Bring back luxury vehicle levy
Relook tax exemptions
Use ICT to improve tax administration
For the country’s economy to surmount the various challenges brought upon it by the coronavirus pandemic, managers of the economy must take bold tax measures to reform the tax system - which should include bringing...
Government must use its coronavirus stimulus package for Small and Medium-Sized Enterprises (SMEs) as a catalyst to formalise the informal economy, the Trades Union Congress (TUC) has urged.
As part of requirements for accessing the GH₵1billion support, prospective applicants are required to have Tax Identification Number (TIN), be registered, must...
Budget deficit and its accompanying debt are key indicators in accessing the health of any economy. At the end of March 2020, Ghana’s public debt reached GHȼ 236.1 billion according to the Bank of Ghana. Of the total debt, US$ 22.9 billion is external representing 31.4% while GHȼ 113...