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Institute of Chartered Accountants, Ghana is a member of two international bodies, the sub-regional ABWA or Association of Accountancy Bodies in West Africa, and the International Federation of Accountants (IFAC), the worldwide organization for the accountancy profession.
The Value Added Tax Service of Ghana is the Government of Ghana agency responsible for the mobilization of tax for the government. [1] The service was formed after the promulgation of the Revenue Agencies (Governing) Board Act in 1998.
The Ghana Revenue Authority (GRA) is the Ghana administration charged with the task of assessing, collecting and accounting for tax revenue in Ghana. [1] [2]As part of efforts to improve compliance, the Authority is required to assist taxpayers to understand and meet their tax obligations by providing robust and comprehensive advice.
The institute began operating as a professional body in 1978, and the Ghana Institute of Taxation was incorporated as a limited company on 2 May 1980. It became the Chartered Institute of Taxation on 8 February 2001. As of 2011 a draft bill was in the works to incorporate the CITG through act of parliament. [2]
How Ghana's central bank lost $5bn in one year Unemployment among young people and an exodus of Ghanaians looking for better opportunities elsewhere has also been a feature of recent years.
In July 2020, Aseidu assumed the position of acting Auditor-General of Ghana after his boss Daniel Yaw Domelevo was asked to go on accumulated leave of 167 working days. [ 2 ] [ 3 ] He continued in that role also from March 2021 following a controversial retirement of Domelevo till his elevation to Auditor-General of Ghana.
The Ghana Enterprises Agency (GEA) is a Ghanaian government agency under the Ministry of Trade and Industry. [1] [2] The GEA is mandated by the Ghana Enterprises Agency Act, 2020 (Act 1043) to promote and develop MSMEs in Ghana. [3] It replaced the National Board for Small-Scale Industries (NBSSI).
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax .