- Jemima Oware, the Registrar-General, has disclosed that plans are in place to dissolve companies that refuse to file their tax returns
- Oware stated that a notice would be released by the end of March 2020 which would caution businesses operating in Ghana to file their returns
- She added that some big businesses in Ghana have not filed their returns for a number of years
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The Registrar-General, Jemima Oware, has revealed that her department is in the process of dissolving companies that do not file their tax returns.
According to her, businesses that have not filed their returns for more than 10 years now would be affected.
Oware indicated that “some big businesses in Ghana have not filed their returns and under the law, I can dissolve them.”
Per a myjoyonline.com report, Oware added that her office would release a notice by the end of March 2020, cautioning all companies who haven’t filed their returns to do so.
Failure to act according to the directive, she added, would lead to a dissolution of such businesses.
The new Companies Act, 2019 (Act 992), all dissolved companies will cease to do business for 12 years before they can re-register.
Oware revealed that there are over one million registered businesses in the Department’s database but just about 10% of them have filed their returns.
In other news, the Member of Parliament (MP) for New Juaben South, Dr. Mark Assibey-Yeboah, has argued that that a weak currency sometimes works well for a country.
According to him, a weak cedi is a bait to bring tourists into Ghana since a strong currency has a negative effect on the number of tourists that could visit Ghana.
To him, having a weak currency makes the country a fair place as people on vacation exchange a lot with countries with such currencies.
Per a classfmonline.com report, he cited an example to the effect that one needs a lot of cedis to get Pounds during a visit to the United Kingdom (UK).
Dr. Assibey-Yeboah went on to say that those who visited the country as part of the ‘Year of Return’ project chose Ghana because the currency is weak.
In that respect, they earn a lot of money when they bring in dollars to exchange and that helps them spend a lot. He further noted that a currency that gains strength affects tourism and is, therefore, a bad thing.
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