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Modified Taxation Scheme takes off July 1  

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The Ghana Revenue Authority (GRA) is expected to implement key policies in the country’s tax administration laws from July 1, 2025, to boost domestic revenue drive for the government.   

These include the Modified Taxation Scheme, VAT on Real estate, and VAT on Non-Life Insurance.  

The Modified Taxation Scheme (MTS) is a simplified approach for informal sector and it introduces a flexible framework targeting micro small and medium businesses across the country.  

This is in line with the Income Tax Act, 2015 (Act 896).  

Mr Anthony Kwasi Sarpong, Acting Commissioner-General of the GRA in a media engagement said the scheme was not an additional tax but a simplified method of calculating personal income tax for eligible traders and entrepreneurs.  

“We as GRA are tax implementors and as the President has announced and reiterated by the Minister of Finance, the country must mobilize more revenue so that we can take care of critical budgetary allocations,” he said.  

 He said what GRA needed to do was to look at the existing revenue handles and implement it to the letter.   

“We believe that if we are able to do these, then we can seal many of the revenue loopholes that are being closed onto us as a country,” he added.   

The Commissioner-General assured stakeholders that these were not new taxes and it was not intended to overburden Ghanaians but rather to support the resetting of the economy.  

Key Highlights of the Scheme include Ghanaian residents earning income solely from business activities within the country, Presumptive Tax Based on Installments (PTI): Fixed quarterly payments (up to GH¢45) for businesses with an annual turnover below GH¢20,000.  

Other are Presumptive Tax Based on Turnover (PTT): A flat 3 per cent rate for businesses earning between GH¢20,000 and GH¢500,000 annually, a Modified Cash Basis (MCB): For businesses exceeding GH¢20,000, applying graduated rates with allowable deductions.  

The rest are Multiple payment options, including mobile money, USSD codes (*222#), and bank deposits and Simplified registration via GRA offices or a dedicated mobile app.  

He said alongside the Modified Taxation Scheme, GRA was implementing several other strategic initiatives designed to plug revenue leakages and broaden the tax base.  

These measures form part of the government’s comprehensive strategy to reduce reliance on debt financing and strengthen domestic revenue mobilisation.  

Mr Sarpong said the Special Voluntary Disclosure Program (SVDP), which was rolled out in 2024, was being deepened.   

It was an initiative that sought to give expression to the income tax law and resident persons who earn incomes abroad.  

He said this programme provided an opportunity to these persons to voluntarily disclose incomes earned abroad, which they have not paid tax on without incurring penalties.   

He said VAT on the Rental of Immovable Property and the Supply of Immovable Property by Estate Developers would also be implemented in accordance with the provisions of the Value Added Tax (VAT) Amendment Act, 2023 (Act 1107), all estate developers are to charge VAT on the supply of immovable property.   

The Estate developers must charge a 5 per cent VAT on: immovable property by an estate developer calculated on the taxable supply, immovable property for rental purposes, other than for accommodation in a dwelling or a commercial rental establishment and  1 per cent COVID -19 levy was also applicable on the supply of immovable property.  

Additionally, an appointed withholding agent who fails to charge and account for the tax to the Commissioner-General by the 15th of the month following the due date shall be liable to pay the VAT that should have been withheld, along with a penalty of thirty percent (30 per cent) of the amount.  

He said there were exemptions for residential dwellings and agricultural properties   

The Commissioner-General said as stipulated in VAT (Amendment) Act, 2023 (Act 1107) insurance premiums covered for VAT purposes include fire, marine, liability, property, indemnity, engineering, travel, burglary, personal accident and workmen’s compensation insurance.   

He said insurance companies must take note and charge a 15 per cent VAT on all insurance premiums covered under this provision.  

Mr Sarpong said to make the implementation more effective, the companies were expected to update their accounting and invoicing systems to incorporate the VAT; train staff on the application and reporting on the VAT; communicate proactively with clients about the changes; and rnsure timely registration for VAT, if not already registered.  

He said the combination of these measures represented a balanced approach to revenue generation.   

The Authority is, therefore creating multiple pathways for compliance while ensuring critical sectors contribute their fair share.  

Mahama welcomes Cardinal Turkson for National Prayer, Thanksgiving Day   

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President John Dramani Mahama on Monday welcomed Cardinal Peter Kodwo Appiah Turkson home for the National Day of Prayer and Thanksgiving Service.  

Cardinal Turkson is the main Speaker at the Christian National Prayer and Thanksgiving Service, which is slated for Tuesday, July 1, at the Forecourt of the State House in Accra.  

A statement issued by the Presidency said President Mahama thanked Cardinal Turkson for accepting to preach the sermon at the first National Day of Prayer and Thanksgiving Service.  

Cardinal Turkson in response noted that “if the President of your country calls, you can’t say no.”   

He reiterated the need for the church and government to provide support and guidance towards our development and democracy.  

He mentioned the new possibility of the church using its existing structures to promote sustainability, adding that the Catholic Church currently had a pilot project in Nigeria and would soon replicate that in other parts of the world.  

Cardinal Turkson, who arrived in Accra on Monday, June 30, expressed appreciation to President Mahama for inviting him to preach at the Thanksgiving Service.   

President Mahama instituted July 1 as a day of National Prayer and Thanksgiving, with the first in the series of Christian and Muslim prayers and Thanksgiving scheduled for Tuesday, July 1.  

GJA Elections: Incumbent Albert Dwumfour leads in Bono and Ahafo Regions  

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Counting has ended in the Ghana Journalists Association’s (GJA) national elections of the Bono and Ahafo branch of the Association, with Mr Albert Kwabena Dwumfour, the incumbent National President massing up 16 valid votes.
His only contender, Charles Yao Mawusi secured eight, out of the 24 valid votes cast in the election conducted and supervised by the Electoral Commission (EC).
The election was held at the premises of the EC’s Bono Regional office in Sunyani. 

However, two delegates did not turn up to vote.
Mrs Rebecca Ekpe also obtained 16 votes to beat her only contender Mary Mensah for the Vice President Position, with Mr Domonic Hlordzi and Mr Akwasi Agyemang polling 12 votes each for the General Secretary Position.
For the Organizing Secretary slot, Mr Suleman Mustapha polled 16 votes to beat his only contender Mr Maxwell Kudekor who had eight votes, while Zadok Kwame Gyesi also had 14 votes to beat Mr Caesar Abagali, securing 10 votes.
Mrs Bertha Badu-Agyei also had 16 votes to outsmart Mrs Theodora Amedetor who had eight votes.
At the regional level, Mrs Regina Benneh Siaw was elected unopposed as the Chairperson for the Bono and Ahafo branch with Mr Dennis Peprah, Mr Daniel Dayee and Mr Imoro Ayibani securing the Vice Chairperson, Treasurer and Secretary positions respectively.

They were all elected unopposed.

Parliament marks International Day of Parliamentarianism with call for greater transparency and Accountability  

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The Speaker of Parliament, Mr Alban Sumana Kingsford Bagbin, Monday emphasized the need for greater transparency and accountability in governance, as the institution marked the International Day of Parliamentarianism.   

The event coincided with the inauguration of the Open Parliament Steering Committee and the launch of the Open Parliament Action Plan.  

These three activities collectively reflect the nation’s progress in deepening democratic governance and promoting parliamentary openness.   

Celebrated annually on June 30, under the auspices of the Inter-Parliamentary Union (IPU), the International Day of Parliamentarianism emphasizes the critical role parliaments play in translating the will of the people into inclusive laws, responsive policies and accountable governance.   

This year’s theme, “Achieving Gender Equality, Action by Action,” challenges parliaments around the world, including Ghana’s Parliament, to adopt measurable and inclusive strategies that ensure gender equity in representation, participation and leadership.    

In his address, Mr Bagbin emphasized the importance of collective commitment to strengthening the pillars of openness, accountability, and public trust in Ghana’s democracy.   

He said, “Let us recommit ourselves to building a Ghana where our Parliament is acclaimed as the most open, accountable, and responsive in Africa.”   

Referencing Ghana’s progress in embracing inclusivity and diversity in its democratic journey, the Speaker noted that Ghana had come a long way, and Parliament ought to lead by example by ensuring that the Affirmative Action (Gender Equity) Act was effectively implemented by all political parties.  

He stressed the need for greater female representation in parliament.  

“Ghana has made only a 6.6 per cent increment in women’s representation in Parliament over the past 30 years, ranking 137th out of 168 countries,” he assessed.  

Touching on the Open Parliament action plans, the Speaker explained that the plan was centered on four pillars, namely transparency, accountability, citizen participation, and harnessing technology and innovation to make parliamentary information accessible.  

He urged Ghanaians to seize opportunities created by the Open Government Partnership to demand transparency and hold leaders accountable.  

While noting Ghana’s parliamentary democracy had made significant progress; the Speaker cited that significant challenges persisted.  

He mentioned limited citizen access to legislative processes and low levels of youth and gender inclusion as some of the challenges. “The Open Parliament action plan aims to address these issues and create a more transparent and inclusive parliament,” the Speaker said.  

Eastern Cape Floods Kill 101, Rescue Efforts Ongoing

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image copyright/afp/Eastern Cape Floods Kill 101, Rescue Efforts Ongoing

The official death toll in South Africa’s devastating floods remains unclear as rescue efforts for missing people continue in the Eastern Cape province.

Authorities said last week that 101 people had died but this number is likely to increase.

Victims include 38 children. The youngest fatality is an infant about 12 months old. Seven bodies remain unidentified and search operations are ongoing for two missing children.

The OR Tambo and Amathole districts were the hardest hit areas.

“This moment will be recorded among the most agonising chapters in our province’s history”, Eastern Cape provincial government official Zolile Williams said in a statement.

“While we have borne witness to tragedies that claimed the lives of our people before, this one resonates on a profoundly deeper level, it wounds the very foundation of our hearts.”

The Eastern Cape provincial government extended its condolences to the victims’ families.

Extreme weather hit the province between June 9 and 10. Heavy rain caused by a cold front turned into floods that swept away victims and their houses, trapped others in their homes, strongly damaged infrastructure and cut electricity supplies.

Electricity has been restored to over 80% of affected customers and more than 95% of the water supply having been restored in the OR Tambo and Amathole Districts, according to Williams.

Local authorities said an estimated R5.1 billion (about $290 million) would be needed to repair damaged infrastructure.

South Africa has declared a state of national disaster, allowing the government to release funding for relief services.

South African President Cyril Ramaphosa visited the worst affected sites on 13 June and blamed the heavy rains and catastrophic floods on climate change.

Climatic phenomena, such as the El Niño phase, caused “a series of extreme weather events” on the African continent last year, the World Meteorological Organization found in its 2024 State of the Climate in Africa report.

Another cold front hit South Africa’s Western Cape province last week, bringing days of rain and causing flooding in and around the city of Cape Town.

Archie Hesse bows out as GhIPSS CEO   

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Mr. Archie Hesse has bowed out as Chief Executive Officer of Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) effective 1st July 2025 after nearly two decades of distinguished and transformative service to Ghana’s financial sector.  

Mr. Hesse joined GhIPSS in 2007 as General Manager in charge of Projects and Business Development.   

In this role, he spearheaded the implementation of several foundational systems that have profoundly shaped Ghana’s modern payment landscape.   

His early achievements include the National Biometric Smart Card Banking and Payment System (e-zwich), a cornerstone of government social grant payments.   

He was also instrumental in establishing the Cheque Codeline Clearing (CCC) System and Ghana Automated Clearing House (GACH) for efficient corporate payments and collections, and the National Switching and Processing System – gh-link, which underpins the national domestic EMV scheme.  

A significant milestone during his tenure was the 2015 launch of the GhIPSS Instant Pay (GIP) platform.   

This revolutionary system transformed interbank payments in Ghana, laying the groundwork for the groundbreaking mobile money interoperability service introduced in 2018. Today, GIP is central to Ghana’s digital payment ecosystem, facilitating instant fund transfers between bank accounts, mobile money wallets, and across various financial institutions.  

In 2022, Mr. Hesse, in collaboration with the Ghana Association of Banks, championed the implementation of GhanaPay, a shared bank-wide mobile money platform.   

This vital tool is supporting banks in achieving their financial inclusion objectives. Beyond the technological innovations, Mr. Hesse’s unwavering commitment to prudent financial management and strategic innovation has transformed GhIPSS from a subvented entity into a self-sustaining institution.   

The Board, Management, and Staff of GhIPSS extend their deepest appreciation to Mr. Hesse for his extraordinary leadership and enduring contributions to Ghana’s financial services industry and the Bank of Ghana’s cash-lite agenda.  

Meawnwhile, the Board has appointed Mr. Kwadwo Ntim, General Manager for Operations and Technology, to serve as Acting CEO.  

Chamber of Commerce empowers women, youth-led businesses in Central Region

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The Ghana National Chamber of Commerce and Industry (GNCCI) has convened a day’s capacity-building workshop for the Women and Youth Wing (GNCCI-WAY) to empower female and young entrepreneurs in the Central Region.

The initiative is to facilitate investment opportunities and advocate for policies that will assist them in growing their enterprises.

The GNCCI-WAY also prioritises access to finance, mentorship, and market entry, acknowledging these as pivotal challenges confronting women-led micro, small and medium enterprises (MSMEs) and young entrepreneurs.

Speaking at the opening of the programme, Dr Emelia Assiakwa, 1st Vice Chairperson of GNCCI, said many female entrepreneurs encountered financial constraints that impeded their operations due to strict conditions imposed by financial institutions for accessing credit facilities.

It is for this reason, she emphasised, that the GNCCI adopted robust measures to encourage Ghanaian women to establish their own businesses, thereby generating employment opportunities for others.

While advocating for increased female participation in entrepreneurship, she noted with optimism that the representation of women in the business sector had significantly expanded over the past decade.

She underscored that “women’s economic empowerment represents one of the world’s most promising investment avenues, yielding almost immediate results.

The alleviation and eventual eradication of poverty, alongside widespread unemployment, needed an initiative to empower women, who constitute the majority of the global populace.”

Mr George Smith, the Chairman of the Regional GNCCI, said women and youth in the Small and Medium Enterprises (SMEs) sector in the region faced hallenges such as limited access to startup capital,  lack of affordable long-term credit, inadequate support for business registration, and insufficient opportunities for capacity development in entrepreneurship and business management.

These impediments, he asserted, had stifled the growth and scaling of women- and youth-led SMEs, often relegating them to micro-level operations.

To mitigate these challenges, he stated that the GNCCI-WAY initiative will harness technology and other digital tools to empower women and youth entrepreneurs.

He underscored the need to embrace tech entrepreneurship to break traditional barriers by facilitating round-the-clock operations, fostering creativity, enhancing decision-making, and improving access to financial services and markets.

He noted that the approach also promoted financial inclusion, enabling entrepreneurs to access loans, capital, and resources in a more efficient manner.

Furthermore, the Regional Chairman of GNCCI advocated the establishment of stronger networks and mentorship programmes that connected women and youth-led SMEs with seasoned entrepreneurs, training, and regional value chain linkages to enhance competitiveness, facilitate market access, and integrate enterprises into larger supply chains to augment their sustainability and growth potential.

Madam Benedicta Anita Mensah, Regional Manager of GNCCI, said empowered women and youth entrepreneurs made substantial contributions to economic development by creating jobs, fostering innovation, and enhancing community livelihoods.

She called for coordinated efforts from government agencies, financial institutions, and development partners to implement gender-responsive policies, provide targeted financial support, and build capacity for women and youth in the SME sector.

Speaking on behalf of the beneficiaries, Mrs Patricia Abena Kissi, the Chief Executive Officer of SDAT Consult Limited, applauded the initiative, lauding GNCCI for equipping them with contemporary business skills.

She said the programme was instrumental in addressing business gaps such as the lack of structure and resilience among entrepreneurs, alongside the necessity for stronger support systems to assist young entrepreneurs in sustaining and expanding their ventures.

In a demonstration of solidarity, the participants pledged to collaborate more closely and exchange best practices to foster mutual growth and empowerment within the community of women and youth entrepreneurs.

Hohoe hosts Northern Zone Inter-School sports festival for second-cycle institutions  

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image copyright/afp/Hohoe hosts Northern Zone Inter-School sports festival for second-cycle institutions  

The 3rd Northern Zone Inter-School sports festival for 15 schools from five Municipal and Districts in the Volta Region is being hosted by the Hohoe E.P. Senior High School (HEPSS).  

The participating schools are Bishop Herman College, Hohoe E.P. Senior High School, Kpando Senior High School, Anfoega Secondary School, Vakpo Senior High School, Leklebi Senior High School, Afadjato Senior High Tech. School, Peki Senior High School and Peki Senior High Technical School.  

The rest are Vakpo Senior High Technical School, Kpeve Senior High Technical School, Alavanyo Senior High Tech. School, Ve Senior High School, Tongor Senior High Tech. School and Santa Esther Girls Senior High School.  

Mr Franklin Amesimeku, Headmaster, Hohoe E.P. Senior High School and Chairman, Northern Zone Sports Federation, said the theme; “Sports; an effective tool for discipline and excellent academic work”, resonated with the purpose of all events that would be undertaken to ignite the sense of determination in participants and students at large.  

He said no one could achieve academic excellence without discipline, adding that sport festivals were not only series of events but celebration of human potential, determination and pursuit of excellence.  

Mr Amesimeku urged participants and all to adhere to rules and regulations guiding the event and make it incident-free.  

Mr Prosper Kumi, Hohoe Municipal Chief Executive (MCE), said the festival was the celebration of youth potentials, unity, sportsmanship and the spirit of healthy competitions which offered participants a learning field.  

He urged the students to conduct themselves with integrity and respect for opponents, teamwork and support each other to strive for excellence in every event as well as ensure fair play by adhering to all rules.  

Mr Kumi called for the events to be marked in an atmosphere of peace and make the festival one to remember.  

Kirsty Coventry has made history as the first woman and first African to lead the International Olympic Committee.

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iimage copyright/afp/Kirsty Coventry has made history as the first woman and first African to lead the International Olympic Committee.

The first female and first African president of the International Olympic Committee, Kirsty Coventry, was inaugurated in the role on Monday – the organisation’s 131st birthday.

Coventry, a two-time Olympic swimming gold medallist for Zimbabwe, formally takes office on Tuesday after decisively winning a seven-candidate election in March to succeed Thomas Bach.

“You have placed your trust in someone whose life story is deeply rooted in the Olympic movement. As an Olympian, she knows what it means to live the Olympic values,” said Bach.

“She knows how to lead with courage. She is driven by a desire to give back to our Olympic movement that has shaped her life. Now she makes history.”

Bach, an Olympic champion in team fencing in 1976, leaves the role after the maximum term of 12 years in office.

At the formal handover ceremony at IOC headquarters in the Swiss city of Lausanne on Monday, Coventry presented Bach with the Olympic Order in gold.

Coventry thanked the more than 700 assembled guests – including IOC members, athletes, Olympic Movement representatives, delegates from international organisations, political leaders, and IOC staff.

“I am really honoured that I get to walk this journey with you and I cannot wait for anything that lies ahead, because I know I have the best team to support me and our movement in these next eight years,” she said.

The 41-year-old Coventry will lead the IOC through the next eight years, including the 2028 Summer Games in Los Angeles.

The ceremony took place on Olympic Day which marks the founding of the modern version of the Games in 1894.

The president of Ivory Coast is expected to declare if he will run for a fourth term.

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Speaking at a rally in Abidjan on Sunday, Ivory Coast President Alassane Ouattara said that in the coming days, he will announce whether he will run for a fourth term in the country’s 25 October election.

His message to tens of thousands of supporters came a day after he was officially nominated as candidate by the ruling Rally of Houphouetists for Democracy and Peace party.

The announcement followed weeks of rising political tension  triggered by a court ruling excluding several opposition politicians.

Ouattara, who has led the Ivory Coast since 2011, is accused by his critics of tightening his grip on power.

His supporters see him as a beacon of stability, having made his career as an economist for the International Monetary Fund before turning to politics.

On Thursday, the two main opposition parties, the African People’s Party of Ivory Coast (PPACI) and the Democratic Party of Ivory Coast (PDCI), launched a joint campaign to demand the reinstatement of their barred leaders.

The PPACI is led by former President Laurent Gbagbo, while the PDCI, the country’s largest opposition force, is headed by former international banker Tidjane Thiam.

Both leaders were struck from electoral list by the court, Gbagbo due to a criminal conviction and Thiam over a nationality issue.

Ivory Coast has a history of election-related violence.

In 2010, a dispute over Ouattara’s victory led to about 3,000 deaths in clashes with Gbagbo supporters.

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