Weekly Wrap: GRA records over 1 million taxpayers, Fidelity Bank earns GHc322m profit and more

Weekly Wrap: GRA records over 1 million taxpayers, Fidelity Bank earns GHc322m profit and more

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GRA recorded over 1 million taxpayers in 2019 - Finance ministry

The Ministry of Finance has revealed that the Ghana Revenue Authority (GRA) recorded 1,394,842 taxpayers in the year 2019.

In total, the number of taxpayers who have Tax Identification Numbers (TIN) was 3,394,488 as of December 31, 2019.

The increase reportedly resulted from a plan to improve tax administration and expand the tax base.

Information available to YEN.com.gh shows that the details were part of the budget performance report of the finance ministry.

READ ALSO: Ghana Reinsurance pays GHc9 million dividend to government

Fidelity Bank records 33% increase in profit before tax; earns GHc322m profit

Fidelity Bank has recorded a profit of GHc322 million for the 2019/2020 financial year.

This is a 33% increase compared to the GHc242 million it earned in the preceding year.

In the course of its 2020 Annual General Meeting (AGM) which was conducted via a virtual platform, its shareholders received and adopted the reports of directors.

Ministry bans companies from operating over poor pollution practices

The Ministry of Environment, Science, Technology and Innovation has stopped United Steel Company, a private steel manufacturing company, and some others from operating unless they provide a roadmap to address their poor pollution management.

The others are, Rider Steel Company and Success Aluminum Limited all in the Tema Free Zones Enclave, whose pollution was affecting other business operators in the catchment area.

GACL: Akufo-Addo approves new partner to revive aviation sector

YEN.com.gh has learned that President Akufo-Addo has approved the selection of Turkish firm, TAV-Summa Consortium, to help revive Ghana’s aviation sector.

The Turkish firm is coming on board as a strategic partner to the Ghana Airports Company Limited (GACL).

The selection ends a yearlong search for such a partner, a move that was opposed by the local union of the company.


Manufacturers urged to change focus of doing business post-COVID-19

Deputy Trade and Industry Minister, Robert Ahomka-Lindsey has urged manufacturers to ensure that the country does not come out of the Covid-19 situation still reliant on imported goods, as was the situation before the pandemic began.

He says it will be unacceptable for the economy to go back as “exporters of raw materials and importers of finished goods.”

“We cannot go forward the way we have to come to today, the module does not work…,” he said on Saturday, July 4, 2020, at the Ghana Manufacturers Awards held at the Kempinski Gold Coast Hotel, Accra.

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Source: Yen

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