The country’s fears of losing substantial domestic revenue through the devastating impact of the coronavirus pandemic has been worsened as Bank of Ghana data shows only about 18 percent of oil revenue target was realized in the first quarter of this year.
According to the Fiscal Development Report (May 2020),...
GH¢490m earned in 17 days
GH¢1bn projected for June
The Ghana Revenue Authority has said the state has lost no revenue since the introduction of the Integrated Customs Management System (ICUMS), but rather, the authority has had its revenue projections on target even with the teething problems that greeted...
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...