BUSINESS NEWS

The Ghana Union of Traders’ Association (GUTA) is appealing to government to reconsider a decision to migrate traders from the VAT Flat Rate Scheme to the new Standard Rate Scheme.   “This is because we (traders) have been operating under the Flat Rate Scheme for about five (5) years, and …

The Founder and Executive Chairman of the Jospong Group of Companies, Dr. Joseph Siaw Agyepong, has revealed how he leveraged a GHC3.00 his mum loaned him, to become one of the biggest business moguls in Africa. According to him, after being compelled to manage his mother’s bookshop after his second …

Workers who receive their salaries through mobile money platforms may have to brace themselves. This is because a portion of their money is expected to be affected by the recently passed E-Levy. According to the Ghana Revenue Authority (GRA), the manner in which the controversial law was crafted makes it …

The Ghana Revenue Authority (GRA) has announced May 1st, 2022 as the implementation date for the Electronic Transaction Levy (E-Levy). In a notice, the GRA said the decision was influenced by the passage of the E-Levy bill by parliament. The E-Levy will impose 1.50% on all electronic transfers.     …

The Vice President, Dr. Mahamudu Bawumia, has attempted to give reasons for the troubles of the Ghana cedi. The head of the government’s economic management team blamed the woes of the cedi largely on negative credit ratings, challenges in getting the 2022 budget passed, and the refusal of investors to …

In what appears to be a defence of the controversial Electronic Transfer Levy (E-levy), President of Ghana Nana Addo Dankwa Akufo-Addo has expressed confidence in the government’s recent strategies aimed at reviving the struggling economy. Speaking to the BBC’s Peter Okowche, President Nana Addo said the government’s strategies will offer …

The world has moved from the barter system to banknotes and now irresistibly digital currencies. Quiet frankly, it is imperative to look at the massive experiment in digital space of trade where it encourages huge movement of funds without major fears of robbery attacks.   As the new era of …

The Finance Minister, Ken Ofori-Atta has hinted that the implementation of the Electronic Transaction Levy may commence in May 2022. According to him, the Ghana Revenue Authority (GRA) will have all the systems in place for the operationalization of the levy by then. “I think the nation is settled, there …

Parliament is now waiting on President Akufo-Addo to assent to the Electronic Transfer Levy (E-Levy) Bill. The Majority inapproved the E-Levy after the Minority walked out saying the tax is a tool to exacerbate the plight of the ordinary Ghanaian.     Today’s decision was reached after the Consideration Stage …

The Vice President of Ghana,  Dr. Mahamudu Bawumia has responded to critics who have, in recent times, asked about his whereabouts at a time when the country’s economy appears to be taking a nosedive.     Dr Bawumia has, for some time now, focused on the administration’s digitisation agenda in …