What the 2018 Budget Say about Taxes


Government promised in the 2017 Budget to remove some taxes to free additional capital for businesses and provide relief to consumers. In line with this, the following taxes were abolished: one percent Special Import Levy imposed on imported raw materials and machinery; 17.5 percent VAT/NHIL on Financial Services; 17.5 percent VAT/NHIL on domestic airline tickets; Excise duty on Petroleum; Import ...

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How Africa’s economic growth rides on wireless rails

economic growth

A telecommunications boom is lifting an industry and a continent. In Kenya, hundreds of thousands of people are rising out of poverty as mobile-money services turn subsistence farmers into businesspeople. A similar dynamic drives Ethiopia, the fastest-growing economy in Africa, where the gross domestic product is forecast to climb 8 percent in 2019. Borrowing costs in Ghana plummeted almost 2.5 percentage points during the ...

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Over 20 Finish Businesses to  Invest in Ghana

Finish Minister to Ghana

Ghana and Finland are taking trade relations to the next level in the coming days with the Finish Minister for Foreign Trade due in the country next week. Pirjo Suomela Chowdhury Ghana and Finland are taking trade relations to the next level in the coming days with the Finish Minister for Foreign Trade due in the country next week. He ...

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Consumer price inflation falls to 11.6 pct in October

Consumer Price

The annual consumer price inflation fell to 11.6 percent in October from 12.2 percent the previous month on the back of lower transport and health costs, the statistics office said on Wednesday. The major commodity exporter is following a $918 million credit programme with the International Monetary Fund that aims to restore fiscal balance and narrow inflation to 8 percent ...

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Ghana’s eCommerce to Gather in Accra to Mark 4th Expo

ecommerce expo

Ghana’s burgeoning online business community will once again meet in Accra for the 4th Ghana eCommerce Expo and Conference on 23-24 November 2017, under the theme, “Shaping Ghana’s eCommerce Landscape through Innovation, Regulation and Adoption. Together”. This important annual gathering of leading e-commerce retailers, fintechs, digital payment platforms, telcos, digital banks, Internet Service Providers, mobile app developers, cybersecurity firms and ...

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2018 budget to improve domestic revenue collection

new tax initiatives

Finance Minister, Ken Ofori-Atta has stated that the 2018 budget which will be presented in parliament later this month will use innovative ways to improve domestic revenue collection for economic development. This follows calls from the Institute of Fiscal Studies, urging government to use the 2018 budget to improve tax collection by broadening the tax base. Speaking at the 38th ...

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Traders in Mankessim optimistic about Yuletide sales


Traders in Mankessim in the Mfantsiman Municipality of the Central Region have expressed hope and optimism about increased sales returns during this yuletide. According to them, last year’s sales dipped due to the political tension and uncertainties that enveloped the nation before, during and after the election. Speaking in an interview with the Ghana News Agency (GNA) on Saturday, the ...

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ESLA PLC successfully closes 10-year bond at 19.5%

graduate unemployment

E.S.L.A PLC, successfully closed its books for the issue of the ESLA bonds on Friday 3rd November 2017, after extending the timeline for the issue of the 10-year bond by one week. Investors may recall that E.S.L.A PLC successfully closed its books for the issue of the 7-yeafr bond on Friday October 27th and accepted GHc2.42 billion of the 7-year ...

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Investor confidence still high – GIPC Boss


Chief Executive Officer of the Ghana Investments Promotion Centre (GIPC) Yofi Grant has made a strong case that Ghana remains the best and most-preferred investment destination, despite the country dropping two places in the latest World Bank’s ‘Ease of Doing Business’ report. According Mr. Grant, though the latest ranking has seen Ghana drop those two places to 120 from 118, ...

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Domestic tourism spending hits GH₵698m

Domestic Tourism in Ghana

A Ghana Statistical Service report indicates that expenditure made by domestic tourists during their visits to different parts of the country in 2015 amounted to GH₵698.4million. Out of this amount, expenditure by domestic tourists visiting friends and relatives constituted 29.6 percent; funeral expenditure constituted 24.3 percent, and business expenditure accounted for 25.3 percent. The report defines domestic tourism as the ...

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