FOR the first time since the amendment of the Value Added Tax (VAT) Law in 2009, the VAT Service has sealed off the premises of enterprises that have refused to register with the service.
They are Quality Stores at Opera Square and Lady Dodzi Enterprises on the Spintex Road, both in Accra.
The VAT Amendment Law, 2009 empowers the Commissioner of the VAT Service to seal off premises of businesses which refuse to register with the service.
Even though it is the usual practice for the service to seal off premises of defaulting clients at the end of the year, the sealing off of the affected enterprises is the first time it is invoking such powers conferred on the commissioner by law.
The Director of the Okaishie VAT sub-office, Mr Dela Heloo, said the office had first sent 30 days’ notices to enterprises that had not registered with VAT to do so.
The exercise, according to him, prompted many enterprises in the Okaishie area to register with the service.
After several prompting, including official correspondence by the VAT Service, Quality Stores still refused to register.
"After using all means to get the shop to register, the only option left was to take distress action," he said.
He said enterprises that had have their premises sealed off would have to pay a penalty when they registered afterwards.
At the time of sealing off Quality Stores, the owner was absent.
Mr Heloo said the sub-office held meetings with traders within its jurisdiction to educate them on the importance of registering with the service and the benefits of VAT to the country.
He advised traders to help the service in the administration of its services by registering with the service and told customers to also insist on VAT invoices whenever they purchased goods from shops.
Thursday, November 26, 2009
Tuesday, November 17, 2009
GHANA HOSTS WORKSHOP ON RURAL POVERTY (centre spread Oct 17)
Thirty agricultural stakeholders from Anglophone West Africa are meeting at a workshop in Accra to deliberate on reducing rural poverty in the West African sub-region.
Organised by the FIDAFRIQUE project of the West Africa Rural Foundation (WARF), the participants from Ghana, Nigeria and The Gambia are also working on connecting people, organisations and networks for sharing experiences and innovation on rural poverty reduction strategies and programmes.
The FIDAFRIQUE project is funded by the International Fund for Agricultural Development (IFAD) and it is aimed at promoting the sharing and dissemination of innovations and knowledge for rural poverty reduction in sub-Saharan Africa.
In a speech read on his behalf at the opening session, the Minister of Food and Agriculture, Mr Kwesi Ahwoi, said the need to intensify the fight against poverty had become urgent and more pressing lately in the face of the recent world food crisis that threatened political stability.
He said the devastating effect of climate change had the potential to derail all the efforts made by African governments towards national development.
“It is a global concern and we must all put our shoulders to the wheel to address it, otherwise it will derail all the efforts we are making,” he stated..
Expatiating on the FIDAFRIQUE project, Mr Abdou Fall, the co-ordinator of the project, said it was intended to increase the development effectiveness of IFAD-financed projects and programmes.
He said the WARF was a non-profit organisation and recipient of the IFAD grant responsible for network administration and financial management of activities in West and Central Africa.
He said in eastern and southern Africa, WARF had contracted the African Rural and Agricultural Credit Association (AFRACA) to host the co-ordination unit for relevant elements aimed at improving policy dialogue processes and knowledge drawn from such project and programme experiences for decision makers.
Organised by the FIDAFRIQUE project of the West Africa Rural Foundation (WARF), the participants from Ghana, Nigeria and The Gambia are also working on connecting people, organisations and networks for sharing experiences and innovation on rural poverty reduction strategies and programmes.
The FIDAFRIQUE project is funded by the International Fund for Agricultural Development (IFAD) and it is aimed at promoting the sharing and dissemination of innovations and knowledge for rural poverty reduction in sub-Saharan Africa.
In a speech read on his behalf at the opening session, the Minister of Food and Agriculture, Mr Kwesi Ahwoi, said the need to intensify the fight against poverty had become urgent and more pressing lately in the face of the recent world food crisis that threatened political stability.
He said the devastating effect of climate change had the potential to derail all the efforts made by African governments towards national development.
“It is a global concern and we must all put our shoulders to the wheel to address it, otherwise it will derail all the efforts we are making,” he stated..
Expatiating on the FIDAFRIQUE project, Mr Abdou Fall, the co-ordinator of the project, said it was intended to increase the development effectiveness of IFAD-financed projects and programmes.
He said the WARF was a non-profit organisation and recipient of the IFAD grant responsible for network administration and financial management of activities in West and Central Africa.
He said in eastern and southern Africa, WARF had contracted the African Rural and Agricultural Credit Association (AFRACA) to host the co-ordination unit for relevant elements aimed at improving policy dialogue processes and knowledge drawn from such project and programme experiences for decision makers.
Friday, November 13, 2009
BARCLAYS MARKS "MAKE A DIFFERENCE DAY" (page 21, Oct 9)
Four thousand staff and family members of Barclays Ghana Limited as well as its community partners undertook various activities in different parts of the country to mark this year’s "Make A Difference Day" (MADD) last Saturday.
The day, was set aside by Barclays 14 years ago to encourage its staff to volunteer their time and use their skills towards community development in their areas of operations worldwide. Last year 16,500 colleagues were involved in 1,077 projects in 13 countries
The community service volunteers of the bank engaged in varied activities in many deprived communities to help make a difference in varied ways.
The Achimota Prestige Centre of the bank painted zebra crossing for schoolchildren at Mile 7.
The acting Branch Manager of the bank, Ms Akosua Yantey, said the branch was touched by a story of a client concerning an unfortunate schoolchild who had an accident at the zebra crossing area.
Other activities included general cleaning of the maternity ward of the 37 Military Hospital by the Airport City branch of the bank while the staff of the UNDP branch of the bank helped in the painting of the Airport Police Basic A to D School at the Airport Police Barracks.
The staff also interacted with children of the Zonta Club and inmates of the Junior Girls Correctional Centre at Ako Adjei.
The Managing Director of Barclays Ghana, Mr Benjamin Dabrah, said "we use the campaign to encourage volunteering among colleagues, because employee engagement is at the core of our community investment programme".
The day, was set aside by Barclays 14 years ago to encourage its staff to volunteer their time and use their skills towards community development in their areas of operations worldwide. Last year 16,500 colleagues were involved in 1,077 projects in 13 countries
The community service volunteers of the bank engaged in varied activities in many deprived communities to help make a difference in varied ways.
The Achimota Prestige Centre of the bank painted zebra crossing for schoolchildren at Mile 7.
The acting Branch Manager of the bank, Ms Akosua Yantey, said the branch was touched by a story of a client concerning an unfortunate schoolchild who had an accident at the zebra crossing area.
Other activities included general cleaning of the maternity ward of the 37 Military Hospital by the Airport City branch of the bank while the staff of the UNDP branch of the bank helped in the painting of the Airport Police Basic A to D School at the Airport Police Barracks.
The staff also interacted with children of the Zonta Club and inmates of the Junior Girls Correctional Centre at Ako Adjei.
The Managing Director of Barclays Ghana, Mr Benjamin Dabrah, said "we use the campaign to encourage volunteering among colleagues, because employee engagement is at the core of our community investment programme".
RADIO STATIONS MUST BE PROFESSIONAL
The Director of Obonu FM, Nii Anang Patapaa, has called on radio stations to be professional in their work to serve as a credible source of information for the society.
The director, who was speaking at the seventh anniversary of the Obonu Russia Fan club, said the good works of the station was being manifested in the springing up of various fun clubs. He said, the station had over the years approached its work with professionalism, serving as a credible source of information to the people of Ghana.
Mr Anang Patapaa said the station had been using its medium to educate the Gadangme people in respect of its language and traditions over the years through the fun clubs.
He encouraged members of the club to stay together in harmony, and educate others to maintain and spread the Ga language and traditions.
The Obonu Russia Fun club was founded on September 3, 2002, a year after the founding of Obonu FM in Ghana Broadcasting Corporation, Accra.
The club was formed with an initial registration of sixty nine (69) people, and had since been increasing.
The club has organised various programmes to help the community, made donations to the St Marie Louise Children’s Hospital, undertook general clean up exercises in the Russia community and visited the Accra Mental Hospital as well as organised AIDS awareness programmes through the Russian and Sukura communities.
Its first patron, Naa Korkor Aadzieoyi, advised the various clubs and the people of Ga not to forget their traditions but to engage a Ga tutor to help in the teaching of the language and traditions.
The Adabraka Mantse, Nii Tetteh Adjabeng, thanked the Obonu Russia fun club for bringing all the other fun clubs together, and thanked the management of Obonu FM for bringing together people of the Ga tribe through their educative programmes.
The director, who was speaking at the seventh anniversary of the Obonu Russia Fan club, said the good works of the station was being manifested in the springing up of various fun clubs. He said, the station had over the years approached its work with professionalism, serving as a credible source of information to the people of Ghana.
Mr Anang Patapaa said the station had been using its medium to educate the Gadangme people in respect of its language and traditions over the years through the fun clubs.
He encouraged members of the club to stay together in harmony, and educate others to maintain and spread the Ga language and traditions.
The Obonu Russia Fun club was founded on September 3, 2002, a year after the founding of Obonu FM in Ghana Broadcasting Corporation, Accra.
The club was formed with an initial registration of sixty nine (69) people, and had since been increasing.
The club has organised various programmes to help the community, made donations to the St Marie Louise Children’s Hospital, undertook general clean up exercises in the Russia community and visited the Accra Mental Hospital as well as organised AIDS awareness programmes through the Russian and Sukura communities.
Its first patron, Naa Korkor Aadzieoyi, advised the various clubs and the people of Ga not to forget their traditions but to engage a Ga tutor to help in the teaching of the language and traditions.
The Adabraka Mantse, Nii Tetteh Adjabeng, thanked the Obonu Russia fun club for bringing all the other fun clubs together, and thanked the management of Obonu FM for bringing together people of the Ga tribe through their educative programmes.
MORE COMPANIES DONATE TOWARDS FARMERS' DAY
Seven more companies have donated towards the 25th Farmers Day which will be held in Tamale on December 4, 2009.
The companies are GAFCO, Guinness Ghana Breweries Limited (GGBL), Wienco, COCOBOD, Qualiplast, Golden Stork and Frankatson Limited.
The Sales Manager of GAFCO, Mr Lawrence Amoah, donated GH¢5,000 on behalf of the company, while Mr William Kotey of Wienco donated 20 Matabi Super Agro 16 pro and knapsack sprayers, 20 cartons of Confidor 200 SL insecticide, five cartons of Cropmax, among other products all worth GH¢20,000, and cash of GH¢5,000.
The GGBL presented 50 cartons of assorted products of the company, worth GH¢2,000, through its Communications Manager, Mr Donald Gwira.
The Deputy Chief Executive Officer of COCOBOD, Dr Yaw Adu-Ampoma, donated a double-cabin pick-up vehicle, worth GH¢39,000, and a sponsorship package for the best cocoa farmer to attend next year’s Royal Agric Show in the UK.
The company also presented Jacto hand sprayers, Akate Master, GTP wax prints, a Sony radio cassette recorder, Phoenix bicycles, double-door fridges, among others, all worth GH¢75,000.
Golden Stork donated 50 cartons of quality spraying machines worth GH¢2,500 and other items of farm machinery worth GH¢95,000 through Mr William Nuamah.
The Marketing and Customer Relations Manager of Qualiplast, a plastic producing company, Mr Ishmael S. Quaye, donated multi-purpose egg crates, chicken fountain, coolers, funnel buckets and other items worth GH¢2,000.
Mr Kwadjo Boakye of Frankatson Limited donated boxes of insecticides, weedicides and spraying machines worth GH¢2,112 and cash of GH¢1,000 in support of the celebrations.
The Deputy Minister of Food and Agriculture in charge of Fisheries, Nii Amasah Namoale, thanked the donors for the gesture and urged Ghanaians to promote agriculture in the country.
The companies are GAFCO, Guinness Ghana Breweries Limited (GGBL), Wienco, COCOBOD, Qualiplast, Golden Stork and Frankatson Limited.
The Sales Manager of GAFCO, Mr Lawrence Amoah, donated GH¢5,000 on behalf of the company, while Mr William Kotey of Wienco donated 20 Matabi Super Agro 16 pro and knapsack sprayers, 20 cartons of Confidor 200 SL insecticide, five cartons of Cropmax, among other products all worth GH¢20,000, and cash of GH¢5,000.
The GGBL presented 50 cartons of assorted products of the company, worth GH¢2,000, through its Communications Manager, Mr Donald Gwira.
The Deputy Chief Executive Officer of COCOBOD, Dr Yaw Adu-Ampoma, donated a double-cabin pick-up vehicle, worth GH¢39,000, and a sponsorship package for the best cocoa farmer to attend next year’s Royal Agric Show in the UK.
The company also presented Jacto hand sprayers, Akate Master, GTP wax prints, a Sony radio cassette recorder, Phoenix bicycles, double-door fridges, among others, all worth GH¢75,000.
Golden Stork donated 50 cartons of quality spraying machines worth GH¢2,500 and other items of farm machinery worth GH¢95,000 through Mr William Nuamah.
The Marketing and Customer Relations Manager of Qualiplast, a plastic producing company, Mr Ishmael S. Quaye, donated multi-purpose egg crates, chicken fountain, coolers, funnel buckets and other items worth GH¢2,000.
Mr Kwadjo Boakye of Frankatson Limited donated boxes of insecticides, weedicides and spraying machines worth GH¢2,112 and cash of GH¢1,000 in support of the celebrations.
The Deputy Minister of Food and Agriculture in charge of Fisheries, Nii Amasah Namoale, thanked the donors for the gesture and urged Ghanaians to promote agriculture in the country.
EXPAND LIFE INSURANCE TO INFORMAL SECTOR
EXPAND LIFE INSURANCE TO INFORMAL SECTOR
The Minister of Finance and Economic Planning, Dr Kwabena Duffour, has urged life insurance companies to extend their products to the informal sector.
The minister, who was speaking at this year's African insurance organisations conference, said life insurance could not impact meaningfully on the economies of African countries if practitioners did not involve the informal sector, which constituted more than 60 per cent of Africa's productive economy.
The two-day conference is being attended by participants from Ghana, Nigeria, Cameroon, Niger, Senegal and South Africa.
The conference, hosted by the Ghana Insurers Association and the Life Offices Association of Ghana, is on the theme, “Gateway to Africa”.
Dr Duffour said life insurance had been used to mobilise long-term funds for economic development and create job opportunities for the youth in developed countries.
He advised insurance companies to introduce products which would be attractive to the youth, especially at a time when opportunities for formal employment were dwindling.
He said African governments could support the growth and development of life insurance through legislation, noting that experience had shown that jurisdictions that were experiencing tremendous growth rates had enjoyed government support.
He urged insurance companies to recognise the crucial role Information and Communications Technology (ICT) played in life insurance business, especially from marketing to underwriting and from claims to fund administration.
On the Ghanaian economy, the minister said currently inflation had dropped to 18.4 per cent and there was indication that it would continue to slide further, while the value of the cedi was favourable and premium relative to the US dollar.
He also said the Standard Bank Carry Trade rating showed that the cedi was now the most preferred currency out of a basket of 24 emerging economies.
Dr Duffour said the fiscal performance for the first three quarters of the year was encouraging and expressed the hope that the year’s performance target would be achieved.
The Commissioner of Insurance, Ms Josephine Amoah, said it was the belief of many in the business community that the global financial crisis had not had much direct impact on insurance companies in Africa.
However, she said, as a result of financial conglomerates and international active groups which had cross-sectoral and cross-border linkages, Africa could not be said to be immune from the effects of the crisis.
She said African insurers, therefore, needed to learn from the experience of their counterparts in the developed economies and take urgent steps to forestall any failure in their markets.
Ms Amoah was of the view that the ability of insurance companies to withstand the current crisis would depend, to a large extent, on the quality and nature of their assets and types of their products.
The Minister of Finance and Economic Planning, Dr Kwabena Duffour, has urged life insurance companies to extend their products to the informal sector.
The minister, who was speaking at this year's African insurance organisations conference, said life insurance could not impact meaningfully on the economies of African countries if practitioners did not involve the informal sector, which constituted more than 60 per cent of Africa's productive economy.
The two-day conference is being attended by participants from Ghana, Nigeria, Cameroon, Niger, Senegal and South Africa.
The conference, hosted by the Ghana Insurers Association and the Life Offices Association of Ghana, is on the theme, “Gateway to Africa”.
Dr Duffour said life insurance had been used to mobilise long-term funds for economic development and create job opportunities for the youth in developed countries.
He advised insurance companies to introduce products which would be attractive to the youth, especially at a time when opportunities for formal employment were dwindling.
He said African governments could support the growth and development of life insurance through legislation, noting that experience had shown that jurisdictions that were experiencing tremendous growth rates had enjoyed government support.
He urged insurance companies to recognise the crucial role Information and Communications Technology (ICT) played in life insurance business, especially from marketing to underwriting and from claims to fund administration.
On the Ghanaian economy, the minister said currently inflation had dropped to 18.4 per cent and there was indication that it would continue to slide further, while the value of the cedi was favourable and premium relative to the US dollar.
He also said the Standard Bank Carry Trade rating showed that the cedi was now the most preferred currency out of a basket of 24 emerging economies.
Dr Duffour said the fiscal performance for the first three quarters of the year was encouraging and expressed the hope that the year’s performance target would be achieved.
The Commissioner of Insurance, Ms Josephine Amoah, said it was the belief of many in the business community that the global financial crisis had not had much direct impact on insurance companies in Africa.
However, she said, as a result of financial conglomerates and international active groups which had cross-sectoral and cross-border linkages, Africa could not be said to be immune from the effects of the crisis.
She said African insurers, therefore, needed to learn from the experience of their counterparts in the developed economies and take urgent steps to forestall any failure in their markets.
Ms Amoah was of the view that the ability of insurance companies to withstand the current crisis would depend, to a large extent, on the quality and nature of their assets and types of their products.
Sunday, November 1, 2009
REGISTER WITH VAT (OCT 3O, PAGE 3)
CONSTRUCTION companies have been urged to register with the Value Added Tax (VAT) Service and pay their taxes in order to create an even playing field with those that have registered.
Speaking at this year’s annual meeting of the Ghana Institution of Surveyors (GhIS), the Commissioner of the VAT Service, Mr Anthony Ewereko Mintah, said members of the GhIS were obliged by law to register with the service.
He said members were to charge and collect VAT on the services they provided for their clients.
He added that last year Parliament gave the commissioner the jurisdiction to seal off premises of businesses that failed to register to pay the tax.
Mr Mintah said the service would soon undertake an exercise to enforce the new provision of the law.
The President of the GhIS, Mr N. H. Osei Asante, advised members to participate fully in Continuing Professional Development (CPD) programmes in order to constantly update themselves in terms of knowledge-based education acquisition, skills development and, above all, competence, coupled with reliability and integrity.
He said this year’s seminar was scheduled to consider in detail the versatile nature and scope of the Ghanaian quantity surveyor and, more important, the professional surveyor’s appreciation of the dynamics of the competitive market.
He urged the members to work hard to make the surveyor the first option when investment decisions were being made.
Mr Asante congratulated the members on their continued and sustained progress and achievements chalked up over the years.
Speaking at this year’s annual meeting of the Ghana Institution of Surveyors (GhIS), the Commissioner of the VAT Service, Mr Anthony Ewereko Mintah, said members of the GhIS were obliged by law to register with the service.
He said members were to charge and collect VAT on the services they provided for their clients.
He added that last year Parliament gave the commissioner the jurisdiction to seal off premises of businesses that failed to register to pay the tax.
Mr Mintah said the service would soon undertake an exercise to enforce the new provision of the law.
The President of the GhIS, Mr N. H. Osei Asante, advised members to participate fully in Continuing Professional Development (CPD) programmes in order to constantly update themselves in terms of knowledge-based education acquisition, skills development and, above all, competence, coupled with reliability and integrity.
He said this year’s seminar was scheduled to consider in detail the versatile nature and scope of the Ghanaian quantity surveyor and, more important, the professional surveyor’s appreciation of the dynamics of the competitive market.
He urged the members to work hard to make the surveyor the first option when investment decisions were being made.
Mr Asante congratulated the members on their continued and sustained progress and achievements chalked up over the years.
MORE FIRMS DONATE TOWARDS FARMERS DAY (PAGE 8, OCT 31)
THE forthcoming Silver Jubilee of the National Farmers Day continues to attract donations from a number of companies.
Last Thursday, seven companies donated cash and items to the Ministry of Food and Agriculture at a ceremony in Accra.
They were the Bank of Ghana, Amalgamated Bank Limited, Fan Milk Limited, OLAM International, Crocodile Matchets Limited, Produce Buying Company and Nsawam Foam.
The Secretary of the Bank of Ghana, Mr Alex Bernasko, donated GH¢10,000 on behalf of the bank, explaining that the bank had always been part of Farmers Day.
Mr Edem Amengor donated GH¢5,000 on behalf of Amalgamated Bank.
Making the presentation, he said the donation was in fulfilment of a pledge the bank made to say "ayekoo" to farmers for their efforts in feeding the nation.
For their part, Fan Milk Limited and OLAM International, major suppliers of agricultural produce, made donations of GH¢5,000 and GH¢3,000, respectively, towards the celebration.
Mr Charles Atuahene of Crocodile Matchets presented 20 packets of machetes worth GH¢4,000 and cash of GH¢1,000.
He said the company had been supporting Farmers Day celebrations for a very long time.
Mr Anthony Osei, a representative of the Produce Buying Company, donated cooking utensils worth GH¢5,000, while Nsawam Foam donated 60 student mattresses in support of the celebration.
Receiving the donations, a Deputy Minister of Food and Agriculture, Nii Amasah Namoale, expressed gratitude to the companies for their kind gesture and appealed to other companies to emulate the example.
Reacting to the concerns raised by peasant farmers, the Deputy Minister of Food and Agriculture in charge of Crops, Mr Yaw Effah-Baafi, said the interest of the peasant farmers would be taken care of during the forthcoming celebration.
He explained that most small-scale farmers were rewarded at the district level which looked at different types of crops grown by small-scale farmers.
Last Thursday, seven companies donated cash and items to the Ministry of Food and Agriculture at a ceremony in Accra.
They were the Bank of Ghana, Amalgamated Bank Limited, Fan Milk Limited, OLAM International, Crocodile Matchets Limited, Produce Buying Company and Nsawam Foam.
The Secretary of the Bank of Ghana, Mr Alex Bernasko, donated GH¢10,000 on behalf of the bank, explaining that the bank had always been part of Farmers Day.
Mr Edem Amengor donated GH¢5,000 on behalf of Amalgamated Bank.
Making the presentation, he said the donation was in fulfilment of a pledge the bank made to say "ayekoo" to farmers for their efforts in feeding the nation.
For their part, Fan Milk Limited and OLAM International, major suppliers of agricultural produce, made donations of GH¢5,000 and GH¢3,000, respectively, towards the celebration.
Mr Charles Atuahene of Crocodile Matchets presented 20 packets of machetes worth GH¢4,000 and cash of GH¢1,000.
He said the company had been supporting Farmers Day celebrations for a very long time.
Mr Anthony Osei, a representative of the Produce Buying Company, donated cooking utensils worth GH¢5,000, while Nsawam Foam donated 60 student mattresses in support of the celebration.
Receiving the donations, a Deputy Minister of Food and Agriculture, Nii Amasah Namoale, expressed gratitude to the companies for their kind gesture and appealed to other companies to emulate the example.
Reacting to the concerns raised by peasant farmers, the Deputy Minister of Food and Agriculture in charge of Crops, Mr Yaw Effah-Baafi, said the interest of the peasant farmers would be taken care of during the forthcoming celebration.
He explained that most small-scale farmers were rewarded at the district level which looked at different types of crops grown by small-scale farmers.
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