UPDATE ON BANKING SECTOR REFORMS IN GHANA

On 11th September 2017, the Bank of Ghana (“BOG”) increased the minimum capital requirement of commercial banks in Ghana from GH¢120,000,000.00 to GH¢400,000,000.00 (NOTICE NO. BG/GOV/SEC/2017/19.) The deadline for compliance was 31st December, 2018. The purpose of this recapitalization is to sanitize the banking sector and to position the economy of Ghana as the emerging Read More

WARNING!!! – GRA TO CONDUCT NATIONWIDE TAX AUDIT IN SEPTEMBER 2018

The Ghana Revenue Authority (“GRA”) has warned that it will conduct a nationwide tax audit in September this year to expose companies and individuals who have not filed their tax returns or registered with it. It said offenders would pay penalties and interests on their accumulated taxes. A Policy and Programme Officer at GRA, Mr. Read More

Registering An External Company In Ghana

Introduction An external company is a body corporate formed outside Ghana which has an established place of business in Ghana. Instead of incorporating a company in Ghana, an investor may register his company formed in his country of origin. As the external company incorporated outside Ghana is merely being registered and no subsidiary is being Read More