PFM Tax Africa’s view on 2021 mid-year budget review

The exchange rate between the naira the US dollar closed at N411.25/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated against the US dollar on Friday, having lost 55 kobo to close at N411.25/$1 compared to N410.7/$1 recorded on Thursday, 1st July 2021. The local currency fell at the official

Ghana’s Gross Domestic Product (GDP) growth rate according to analyst and founder for the Institute for Security Studies (ISS), Dr Jackie Cilliers will fall by 2 percent if the country’s external debt composition crosses 60 percent of its GDP. Ghana’s total debt stock as at March 2021 was Ghs 304.66 billion, but the debts tock then increased by Ghs

The first full sovereign credit rating of Ghana for 2021 was delivered last week, and it left rating sentiment unchanged from last year. This came from global credit rating firm Moody’s Investor Services rating the country’s sovereign bond issuance at B3 negative, exactly the same as last year when the firm downgraded Ghana from B3 stable

With concerns over the rising public debt stock bringing the nation’s poor and porous revenue mobilisation mechanisms under increased scrutiny, calls have intensified for a review and reform of the existing tax regime – particularly policy provisions for tax exemption. One such reform – the introduction of a publicly accessible tax exemption repository, has received

The African Centre for Energy Policy (ACEP) has proposed for the abolishment of the three per cent withholding tax on gold grade. According to a study conducted by the think tank, the implementation of the levy has been unsuccessful. It comes on the heels of a report by the Precious Minerals Marketing Company revealing that

Edo modular refineryThe Bight of Benin is metaphorical of the economic exploit of the ancient empire before the greed of Europe vanquished the empire. Their visit and subsequent attack blighted the unequalled economic adventure of the ancient kingdom. Notwithstanding the European invasion and the epic battle for the economic soul of the empire, the modern

Multilateral institution, the International Monetary Fund (IMF) says Ghana’s gross financing needs for the year 2020 exceeded 20 percent of its Gross Domestic Product (GDP). In monetary terms, that amounts to some $13.68 billion. Despite having a financing need of $13.68 billion mostly due to the advent of the Covid-19 pandemic, government was able to

The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.

“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle” – Winston S. Churchill. In a bid to widen the nation’s tax net and rope in the informal sector, a 1.75% electronic transaction levy (e-levy)

The size of Ghana’s economy is projected to swell from $62.8 billion in 2020 to $83.2 billion by the end of 2023. According to Fitch Solutions, research arm of credit rating agency, Fitch Ratings, the expansion of Ghana’s economy is expected to start this year, with the economy growing by $7.2 billion in monetary terms.