Kenya National Treasury Tax: SHIF deductions from gross salaries to boost take-home
The National Treasury has proposed that the Housing Levy and Social Health Insurance Fund (SHIF) deductions be made from workers’ gross salaries before taxation, aiming to increase take-home pay for thousands of employees. The change, included in amendments to tax laws, would replace the current system, which gives a tax relief of 15 per cent […]
World Bank commits $9bn to agribusiness, calls for inclusive ecosystem
The World Bank has committed $9 billion in agribusiness investments, calling for the creation of a comprehensive global ecosystem as food demand is set to increase by up to 60 per cent. The call follows the Bank’s observation of four emerging shifts that could reshape the agribusiness landscape such as improving productivity, climate resilience, and […]
Thousands of international students miss fall semester amid visa delays
Thousands of international students expected to study at three Ontario colleges are missing the fall semester, after Ottawa announced it would further tighten Canada’s study permit system. Some school officials are attributing the dramatic enrollment decline to a chilling effect created by the federal government’s policy, and to visa delays that have resulted from a stricter approach. […]
How to Overcome your Tax Compliance Issues
GroConsult helps businesses in Ghana and Africa overcome several key challenges with its tax compliance services: Navigating complex tax regulations: GroConsult’s experts stay up-to-date with the ever-changing tax laws and regulations in Ghana, simplifying the complexities for businesses. They break down intricate tax rules into easily understandable terms, enabling effective compliance. Ensuring accurate and timely […]
UK Businesses Warn Starmer Against Raising Employer Payroll Tax
(Bloomberg) — UK business groups warned the country’s new Labour government against raising a key tax on employers after Prime Minister Keir Starmer and Chancellor of the Exchequer Rachel Reeves both signaled a hike is being considered at the budget later this month. Executives on Tuesday warned that raising the payroll tax — known as […]
Petroleum products dominate imports in Q2 — Gold leads exports
Ghana’s import market continues to be dominated by refined petroleum products, with gas oil and motor spirit super accounting for a quarter of the total import bill in the second quarter of the year. Out of the country’s total import bill of GH¢58.8, gas oil accounted for GH¢7.3 billion, with motor spirit super accounting for […]
ATAF, ACBF Forge Strategic Partnership to Elevate Africa’s Tax Systems
In a significant development for Africa’s economic future, the African Capacity Building Foundation (ACBF), the leading institution for capacity development in Africa, and the African Tax Administration Forum (ATAF), the continent’s premier authority in tax matters, have signed a Memorandum of Understanding (MoU). This MoU marks a critical step towards strengthening Africa’s tax systems by […]
AUC, GABI strengthen ties to advance trade, investment in Africa
The African Union Commission (AUC) and the Global Africa Business Initiative (GABI), an initiative of the United Nations (UN) Global Compact, have renewed their commitment to advancing development across the African continent. This follows the signing of letters of intent, marking a significant step towards strengthening the bond and realising the mutual goals of the two institutions. […]
Ghana breaks ground on first $12-billion phase of downstream petroleum hub
Ghana’s state-owned Petroleum Hub Development Corp. and a consortium of private-sector partners have broken ground on the first phase of the subregion’s first integrated downstream petroleum hub. Ghana’s state-owned Petroleum Hub Development Corp. (PHDC) and a consortium of private-sector partners have formally broken ground on the previously announced first phase of the West African subregion’s […]
EU Stepping-up Trade, Investments in West Africa
The European Union (EU) is taking steps to enhance its trade and investment engagement with West Africa (WA) countries, a high placed source at the Union told the Ghana News Agency (GNA). The source said the move was of a high priority for the EU explaining that the region had some of the heaviest economies with Nigeria being the biggest on the continent, followed by Ghana and Ivory Coast. Speaking […]