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Business News of Friday, 25 October 2019

Source: thebftonline.com

French Chamber updates members on tax system in Ghana


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The Chamber of Commerce and Industry France Ghana (CCIFG) has organised a business breakfast meeting to update its members on the tax System in Ghana.

Organised in collaboration with Ernst & Young (EY), the meeting attracted over 80 members and was facilitated by a team from EY. The breakfast meeting was the first event organised by CCIFG with Ernst & Young this year to help both its members and non-members become abreast of the changes in Ghana’s tax system.

The Senior Manager-Tax Services at Ernst & Young, Mr Kwasi Owiredu highlighted the need for businesses to know the implication of paying taxes for their businesses citing sectors such as telecommunication and the upstream oil and gas sector.

Mr. Owiredu, further illustrated a case law on tax update to enable participants to better understand the subject.

The Manager-Tax Services, Mr Kofi Akuoko explained into details the new regulations on transfer pricing and its key changes. He further talked about the new six steps of analytical framework for analysing risks and how these risks can be avoided.

Another Manager-Tax Services, Mr Benjamin Arthur focused on personal income tax issues, providing more information on worldwide taxation and its implications. He further mentioned the impact of PAYE taxes and how to minimize it as well as some exemptions under the Mandatory Pension Scheme.

KEYNOTE

The Chamber of Commerce and Industry France Ghana is an association of companies and professionals belonging to different sectors which aims at supporting, fostering and enhancing bilateral trade and investment relations between French and Ghanaian companies.

With over 20 business sectors represented, the CCIFG acts as a business support system to its members by providing information and business opportunities through informative events, market studies, product-market testing, prospective missions and trade shows.

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