KEY POINTS A group of 130 nations has agreed to a global minimum tax on corporations, Treasury Secretary Janet Yellen announced Thursday, part of a broader agreement to overhaul international tax rules. Yellen did not announce the actual rate at which the GMT would be set, but the Biden administration has pushed for at least

After a careful study of the trajectory of the current and projected levels of government debts and deficits, the former Finance Minister, Seth E. Terkper has called for a ‘Special Deficit and Debt’ control program to curb or ameliorate what he described as a “looming fiscal crisis.” Readers will recall that just some few days

Atuahene calls on gov’t to pay debt owed sector A new report by the Bank of Ghana has shown a worrying trend of growing non-performing loans in the assets of commercial banks, a situation banking consultant Dr. Richmond Atuahene blames on challenging economic conditions and government debt owed the private sector. The summary of Economic

Government is expecting to realize roughly US$886 million as petroleum revenue for 2021. This was announced by the caretaker Finance Minister and Minister of Parliamentary Affairs, Mr. Osei Kyei-Mensah-Bosnu during the 2021 budget presentation in Parliament on Friday, March 12, 2021. The amount is made up of royalties of US$201.0 million, Carried and Participating Interest

Tax consultant and Senior Lecturer at the University of Ghana (UG), Dr Abdallah Ali-Nakyea, has decried the inconsistencies in government’s implementation of tax policies. According to him, inconsistencies in implementation of tax policies affect the overall revenue generation ability of tax handles. To drive home his point, Dr Ali-Nakyea made reference to the many amendments made

Erstwhile Minister for Finance, Seth Terkper, has called for the introduction of sunset clause(s) in corrective temporary taxes introduced by government in times of crisis. Mr Terkper, a tax expert, touching on the introduction of taxes by governments as an austerity measure during times of economic crisis, opined that such corrective taxes having served their

The demographic profiles of countries like Kenya, where a high percentage of people are young, would suggest that it’s swiftly renewing its workforce with fresh talent. But this doesn’t seem to be the case. We conducted a study in a public sector organisation three years ago. We found that the bureau had an ageing workforce.

The Nairobi Securities Exchange (NSE) has disclosed that it has acquired a 4 per cent stake in the Dar s Salaam Stock Exchange citing strategic reasons. “Back in 2017, we took a position in the Dar er Salaam Stock exchange. Dar Es Salaam Stock exchange was doing an IPO. And its always been part of our regional strategy to

International financial markets have opened a window for African governments to diversify their funding sources from traditional multilateral institutions and foreign aid. For example, they can now borrow through issuing Eurobonds – these are international bonds issued by a country in a foreign currency, usually in US dollars and euros. South Africa was the first

Parliament, throughAct 1068 passed into existence the 1% Covid Health Recovery Levy on all goods and services consumed in the country. The 1% Covid Health Recovery Levy according to government is to help raise revenue to support Covid-19 related expenditure and also help improve the country’s current fiscal situation. The introduction and subsequent passage of the