Employers must file monthly PAYE returns and make tax payment by the 15th of the subsequent month. Failure to file and pay Tax by the due date attracts a penalty of GHC 500 and a further penalty of GHC10 for each day that the tax is overdue. Procedure to file PAYE Returns Visit the website […]
Category Archives: General
08
Aug
Aug
1. Visit https://taxpayersportal.com. 2. Login with your TIN and Password. 3. Click on File Your Returns. 4. Select FILE RETURN. This will give you a dropdown of all the tax types. 5. Select Company Income Tax Return to file CIT. 6. Fill in the Return Form with the financial details for the period. These […]
25
Jul
Jul
GHANA.GOV, a digital service and revenue collection platform, is now the primary means by which taxpayers will file returns, make payments, and request tax related services. Using Ghana.gov can take a bit of figuring out what to do next. We’ve put together these write ups to aid the average user, who may not be a […]
10
Aug
Aug
What’s our purpose? Our purpose is to use our knowledge in our area of expertise to provide solutions to businesses. Work context According to the ACCA, the principal forces driving change in the twenties are digitization, regulation, and stakeholder expectation. Stakeholders expect more business oriented and forward-looking information. At SCG, we accept these forces bring […]
04
Jun
Jun
We held a webinar on May 25, 2021, on how Ghanaian SMEs can prevent occupational fraud. Here is summary of the discussion. Ghanaian SMEs face increasing risk of occupational fraud because of our current business and economic environment. Occupational fraud is using one’s occupation to make personal gains through deliberate misuse or misapplication of the […]
27
Mar
Mar
If you struggle to issue timely financial statements, or your financial statement falls apart under scrutiny, you need a financial close process and a close plan. In the blog titled You need a close-process, we discussed the financial close process, and gave examples of close activities. To close the books accurately and on time, a […]
04
May
May
IFRS 15 – Revenue from Contracts with Customers (IFRS 15), which became effective from 1 January 2018, makes significant changes to accounting for revenue. In this article we highlight the fundamental changes introduced by IFRS 15 and use a case to show the steps in determining revenue. When is Revenue Recognized? An entity recognizes revenue […]
30
Apr
Apr
GRA has responded to the disruptions to business by the Coronavirus and introduced measure to ease tax compliance. The highlights of the measures are: Taxpayers who redeem all their outstanding debts due GRA by June 30, 2020, will be granted a remission of penalties on their principal debts. Donations and contributions toward fighting COVID-19 pandemic […]
19
Apr
Apr
As a small business owner, you might think your business is not a target for a cyber-attack. Your business is as much a target as the big businesses. The criminals know that small businesses have weaker defenses, so you are in their sight. What is at risk for your business? Sensitive data such as strategy, […]
17
Feb
Feb
Retailers, wholesalers, and manufacturers are typical businesses that hold inventory (stock). Inventory comes with risks such as damages, theft and obsolescence. It also ties up capital and has related administrative costs. You can lose money on inventory. But you don’t want to lose money so you must put in controls over inventory. The types of […]
