Search Results for: Ghana

CORRUPTION saps economic competition that drives productivity improvements and grows emerging market economies – this is a key reason behind the establishment of the Commonwealth Africa Anti-Corruption Centre (CAACC). Another is the established link between the perception of risk from corrupt practices in a country and foreign economic investment.…

OECD SAYS 49 JURISDICTIONS WILL AUTOMATICALLY EXCHANGE TAX INFORMATION THIS YEAR

THE IDENTITY of 49 jurisdictions that will automatically exchange tax information in 2017 under a global standard has been revealed by the Organisation for Economic Cooperation & Development (OECD).…

CHINA’S imposition of temporary safeguard duties to protect its sugar industry have been challenged at the World Trade Organisation (WTO), with sugar giant Brazil arguing Beijing’s tariffs break global commerce rules. In a signal that Brazil might be considering launching a disputes case against China, diplomats for the South American country told a WTO safeguards committee meeting that the duties broke the WTO agreement on safeguards and the general agreement on tariffs and trade (GATT). …

DATA has been released by the Organisation for Economic Cooperation & Development (OECD) that shows how African governments collect less tax as a proportion of their countries’ wealth than in Latin America and the Caribbean. Africa’s average 2015 tax-to-GDP ratio was 19.1%; compared to 22.8% in Latin America/Caribbean and 34.3% for the 35 richer countries within the OECD.…

RESTRICTIVE quotas limiting European Union (EU) sugar production to 13.5 million tonnes have finally been scrapped, freeing producers to hit market demand. The abolition of the quotas from October 1 sees European Commission officials predicting that EU sugar production will increase 20% and reach 20.1 million tonnes for the next harvest.…

SOUTH Africans are boosting their spending on cosmetic surgical and non-surgical procedures, with their national market expected to generate South African Rand ZAR94.15 million (USD7.1 million) in annual receipts by 2024. This reflects a 5.8% annual growth rate from the ZAR61 million (USD4.6 million) spent in 2016, according to US-based market research and consulting company Grand View Research, in figures released in July (2017).…

ANXIETY has greeted the passage and signing of three sets of laws to regulate the mining sector in Tanzania, even though it could reverse a ban on copper and gold exports imposed in March.

The Natural Wealth and Resources Contracts (Review and re-negotiation of unconscionable terms) Act 2017, The Written Laws (Miscellaneous Amendments) Act, No 7 of 2017 and The Natural Wealth and Resources (Permanent Sovereignty) Act 2017 were approved by parliamentarians on July 3

Tanzanian President John Magufuli signed the new bills into law on July 5, despite opposition from key industry players.…

A PROPOSAL to cut funding for the Fogarty International Center from the upcoming USA federal government budget by President Donald Trump’s administration has prompted an outcry from academics and educators across Africa.

For decades Fogarty, part of the USA National Institutes of Health (NIH), has been instrumental in developing medical teaching and research capacity on the continent.…

Demand is growing for a major international programme designed to support developing countries build up their tax audit capacity and – critically – the funding is there to meet that need. Launched as a joint initiative of the Organisation for Economic Co-operation & Development (OECD) and the United Nations Development Programme (UNDP) in July 2015 after an initial pilot phase, Tax Inspectors Without Borders (TIWB) sees tax experts work side-by-side with local officials in developing and emerging markets.…

CONTRACTORS working at Kotoka International Airport, Accra, Ghana, are working towards 2017 year-end deadline to complete a USD250 million upgrade so it can accommodate 5 million tourists visiting the west African country annually by 2020. Coordinated by operator Ghana Airports Company Ltd, the project involves building a new terminal of 45,000 square metres with five levels, six contact stands and two remote stands.…