Daily Heritage June 23:17
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Quake Edition FEB 98.qxp_Layout 1 6/22/<strong>17</strong> 8:46 PM Page 7<br />
22ND<br />
JUNE 20<strong>17</strong><br />
THURSDAY<br />
CURRENCY PARIS CODE BUYING SELLING<br />
US Dollar USDGHS 4.3510 4.3554<br />
RATES Pound Sterling GBPGHS<br />
5.5092<br />
5.5161<br />
Euro<br />
GBPGHS<br />
4.8544<br />
4.8587<br />
10<br />
DAILY HERITAGE FRIDAY, JUNE <strong>23</strong>, 20<strong>17</strong> WWW.DAILYHERITAGE.COM.GH<br />
Kenya trade expo in Ghana<br />
to boost intra-African trade<br />
KENYAN BUSI-<br />
NESSMEN will<br />
have opportunity<br />
to explore investment<br />
and trade opportunities<br />
in West<br />
Africa following a trade exposition<br />
to be held in Ghana in November,<br />
this year.<br />
The trade exposition targeting<br />
established and emerging businessmen<br />
is aimed at enhancing<br />
trade relations between Kenya and<br />
Ghana following seven key trade<br />
agreements signed by the two<br />
countries in December 2014.<br />
The bilateral agreements were<br />
established to position Ghana as<br />
the gateway for trade to West<br />
Africa while Kenya will help in accessing<br />
the East African region.<br />
Briefing the media, Mr Nuku<br />
Kamsa-Quarshie, Ghana’s Acting<br />
High Commissioner to Kenya,<br />
said the expo will boost intra-<br />
African trade by enabling businessmen<br />
to explore trade<br />
opportunities in the two countries.<br />
•Mr Nuku Kamsa-Quarshie, Ghana’s Acting High Commissioner to Kenya(1st L),<br />
with some of the co-founders of the trade expo<br />
Kamsa-Quarshie said<br />
Kenyan’s manufacturers have<br />
prime opportunity to explore<br />
business in Ghana following<br />
initiatives like free zones and<br />
building of one factory in<br />
every district, which is meant<br />
to enable manufacturers from<br />
outside to set-up profitable<br />
ventures.<br />
“Ghana is now embracing<br />
private-sector-driven tertiary<br />
education with a surge of private<br />
universities having come<br />
up in the last four or five years.<br />
However, there is no tertiary<br />
institute for the hospitality industry<br />
which causes a great gap<br />
when it comes to tourism development,<br />
he said.<br />
He added that Ghana is ideally<br />
placed to become a hub for<br />
hospitality training in West<br />
Africa just as Kenya is for East<br />
Africa.<br />
GRA seals off offices of Agams Group, two others<br />
• Over tax indebtedness<br />
THE GHANA Revenue Authority<br />
(GRA) has sealed off the offices<br />
of three companies during a<br />
distress action to compel them to<br />
fulfil their tax obligations to the<br />
state.<br />
The companies are ACI Construction,<br />
a subsidiary of the<br />
Agams Group of Companies,<br />
which owes the state over<br />
GH¢14.3 million in taxes; Eagle<br />
Star Enterprise Limited, an engineering<br />
and construction firm,<br />
GH¢604,<strong>17</strong>5.00 and Logistics<br />
Supplies Services Limited,<br />
GH¢460,779.00<br />
A fourth company, the National<br />
Communications Backbone<br />
Company, a firm set up by Vodafone<br />
Ghana Limited to provide<br />
the bandwidth needs of Internet<br />
service providers and offer other<br />
technology services, said to owe<br />
over GH¢30 million in taxes,<br />
made arrangement with the tax<br />
authorities to clear its indebtedness.<br />
Briefing the media in Accra,<br />
Mr Henry Sam, the Coordinator<br />
of the Special Revenue Mobilisation<br />
Task Force, said the exercises<br />
were geared towards ensuring full<br />
compliance with the provisions of<br />
the tax laws and to shore up tax<br />
revenue to meet the 20<strong>17</strong> target of<br />
GH¢34 billion.<br />
He said the Special Revenue<br />
Mobilisation Task Force, in collaboration<br />
with the Tax Office, recovered<br />
tax revenue amounting to<br />
over GH¢66.3 million between<br />
January 20<strong>17</strong> and <strong>June</strong> 20<strong>17</strong>.<br />
He said the task force had earmarked<br />
a list of 14 delinquent taxpayers,<br />
who owed the state over<br />
GH¢63 million for distress action.<br />
He added the affected tax defaulters<br />
are located in Accra and<br />
Kumasi, adding that the action<br />
would be sustained across the<br />
country throughout the year and<br />
beyond.<br />
The taskforce coodinator explained<br />
that the action was the last<br />
tool of mobilisation that the GRA<br />
could use to collect monies owed<br />
to it, adding that the companies<br />
would be given an ultimatum to<br />
pay and if they failed the Authority<br />
would take custody of their assets<br />
and sell them to defray the<br />
taxes owed.<br />
Mr Sam urged taxpayers to<br />
voluntarily comply with the tax<br />
laws by filing all tax returns, issue<br />
VAT invoices for taxable supplies<br />
and effect payment of all relevant<br />
taxes on or before the due date to<br />
avoid embarrassment.<br />
Source: Myjoyonline.com