Tag Archives: Taxes

Only 2% of Ghana’s Informal Sector Pay Taxes.

informal sector

The informal sector constitutes 70 percent of the business arena – but just two percent of them pay their taxes. Mr. Richard Hakeem Quainoo – a Chief Revenue Officer of the Ghana Revenue Authority who announced this on Wednesday – also stated that only 1.5 million of the expected six million taxpayers honoured their responsibilities, with 200,000 being from the ...

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What the 2018 Budget Say about Taxes

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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