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President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng has informed Ghanaians to brace themselves for the hike in prices of selected goods on the market following government’s implementation of the Excise Duty and Income Tax Amendment Acts.
The Parliament of Ghana on the night of 31st March 2023 passed the Growth & Sustainability Levy bill, into law replacing the National Fiscal Stabilisation Levy Act, 2013 (Act 862). Many Ghanaians woke up to the news on April Fools’ Day. In fact, three new tax laws were passed that very night by Parliament.
The Chamber of Agribusiness Ghana has expressed worry about the implementation of the three tax measures introduced by government on agribusinesses, agripreneurs and consumers in the agribusiness value chain.
In 2018, the Ministry of Finance, in collaboration with financial sector regulators and other key stakeholders, developed a National Financial Inclusion and Development Strategy (NFIDS) to address the fundamental barriers preventing the underserved population from accessing financial products and services that would enable them to generate income, build assets, manage financial risks, and become economically empowered.
Company car tax is worked out using a vehicle’s emissions, its value, and your salary; this is how the formula applies in the 2023/24 Financial Year