©2017  5 tax minutes

5 Tax Minutes

by Ayesha Bedwei

July 31, 2018

At the heart of every organisation is a finance function. It is equivalent to an engine room, or even a factory floor, and when things go wrong in finance, an entire organisation can shut down. At times, C -suite executives and management, worry about how effective the...

The Government intends to introduce a fiscal receipt system to replace the manual VAT invoices that VAT registered persons currently issue for the supply of goods and services. This fiscal receipt will be issued using a Fiscal Electronic Device (FED). The introduction...

January 17, 2018

Ghana's economy is fertile ground for investors - high rewards and medium to high risk. Multinationals have been investing in our country since the days of independence and earlier, with many others joining each year.

Financial reporting

Due to commercial requirements of...

January 15, 2018

“A world with a sudden limit on air travel would be tremendously different from the one we live in now” – Charles C. Mann, Author.

Africa’s aviation industry plays an important role in its journey to sustainable development and economic growth. Ease of travel facilitate...

January 15, 2018

Africa Unite!

This was the cry of Bob Marley and his band, The Wailers, during the Zimbabwean Independence Celebrations some 35 years ago. Africa Unite is a mantra that has been echoed by countless African leaders, organisations and human rights activists over the years...

January 10, 2018

An overview of tax treaties

Today's business environment is one characterised by globalisation, regional trade blocs, integration and trade liberalisation. It is now commonplace to find businesses and individuals operating across borders – for example:

  • A US registere...

February 13, 2017

Export Processing Zones (‘EPZs’) - also referred to as Free-trade Zones, became popular in Africa after the 1970s. EPZs aim to create jobs, encourage exports, and increase GDP growth through:  

  • Various tax exemptions;

  •  Flexible regulatory requirements; and

  • ...

August 27, 2015

As discussed in the previous edition, due to the current worldwide developments including the OECD’s move to curb tax base erosion and profit shifting (BEPS), tax policy is changing significantly. In Ghana for example, a Transfer Pricing legislation was passed in 2012...

August 26, 2015

Ever since the 1990’s, a large number of African countries have focused on  attracting Foreign Direct Investment (FDI), as a means to drive the growth and development of their economies. In theory, FDI should lead to job creation, increased foreign exchange, and expans...

August 8, 2015

Celebrated author Mark Twain once quoted that ‘the only two certainties in life are death and taxes’. Whilst this may seem a little exaggerated, there is no arguing that if you are gainfully employed, the chances are that you will pay taxes on the income that you earn...

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