Medieval Ghana taxed everything—from shadows to rain! Today’s taxes may have evolved, but they still surprise and frustrate.
Ghana’s tax reforms aim to boost revenue, yet challenges persist in compliance and enforcement. Could smarter policies ensure sustainable economic growth?
A Fellow, Institute of Chartered Accountants Ghana (ICAG), Mr. Kofi AFFLU, wrote a very poignant opinion piece in today’s edition of the B&FT and began by admitting that Ghana is one of the countries in the World that has very high tax rates, something that very few people would disagree with.
The year 2022 Forbes World Billionaires’ list names Alice Walton, an American heiress to the fortune of Walmart as the second richest woman and eighteenth in the world with a networth of $65.3 billion.
The Ghana Revenue Authority (GRA) has announced a complete reversal of the discount on the Free on Board (FOB) value of general goods and Home Delivery Value (HDV) on vehicles from January 1, 2023.
Finance Minister Ken Ofori-Atta has revealed that government expends 70 per cent of the country’s tax revenue on debt serving.
The Customs Division of the Ghana Revenue Authority (GRA) has said an estimated 1,200 ‘Togo cars’ have been intercepted, in the Greater Accra Region alone, within the last two years.
A Tax Policy Expert, Mr Alex Ampaabeng, has proposed to the government to impose a 40-per cent income tax on individuals who earned above a cedi equivalent of $4000.00 monthly.
Traders who deal in Fast Moving Consumer Goods (FMCGS) at Adum, Kumasi, in the Ashanti Region are up in arms against government for its 6 percent VAT policy rate – which they claim is ‘killing’ their businesses.
The Ghana Revenue Authority (GRA) says it ready to flush out fake VAT invoices from the country with the introduction of the Electronic VAT invoicing set to commence tomorrow October 1, 2022.
Four business operators including Chinese and Lebanese nationals were arrested yesterday in Accra for failing to issue Value Added Tax (VAT) invoice to customers.
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