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GRA Demands 40% Tax Settlement for SOL Cement’s Factory Reopening
Minister of Works and Housing, named Ghana’s Best Minister for Infrastructure Development
In International News
Saudi Arabia Launches Real Estate Registry, Indicators Platforms
GRA Demands 40% Tax Settlement for SOL Cement’s Factory Reopening
The Ghana Revenue Authority (GRA) has required SOL Cement’s management in Tema to settle a minimum of 40 percent of their substantial tax liabilities before permitting the company to recommence operations.
The GRA closed the cement factory two weeks ago due to GH¢700 million in unpaid taxes, including VAT and other infractions. The company was audited for VAT non-compliance, corporate income tax, and penalties, and they are given 10 days to clear their arrears.
The Commissioner of Domestic Taxes, Kwabena Gyambra, expressed dissatisfaction with the company’s proposed solutions and reiterated that they would reopen once a 40% settlement is made with a feasible plan for the remaining amount.
Finance Minister Ken Ofori-Atta visited the factory to understand the shutdown’s implications. He emphasized that the GRA’s actions mark the start of efforts to bolster the country’s revenue and noted that further discussions with the company would be held to resolve the issue.
The minister also acknowledged the challenges faced by companies in meeting their tax obligations, particularly those importing significant raw materials for cement production.
Ghana’s Minister of Works and Housing, named The Best Minister for Infrastructure Development.
The Minister of Works and Housing, Francis Asenso-Boakye, has been honored with the title of Ghana’s Best Minister for Infrastructure Development.
This prestigious award was presented to Mr. Asenso-Boakye at the Chamber of Construction 2023 Awards for Industry Players in Accra
During the awards ceremony, the minister emphasized the government’s unwavering commitment to prioritizing infrastructure development in the country.
Mr. Asenso-Boakye expressed his gratitude to the Chamber of Construction for recognizing his efforts and conferring upon him the title of 2023 Ghana’s Best Minister for Infrastructure Development.
He viewed the award as a motivation to continue his dedicated work for the betterment of the country.
In other news
Samuel Kwesi Addison, a 51-year-old mason, has appeared before an Accra Circuit Court, facing accusations of making conflicting land sales to two individuals in Abbeyman, Accra.
He allegedly sold the same land to two different people for GHC70,000 and GHC100,000, respectively, and pleaded not guilty to fraudulent land transactions.
Addison was granted bail in the amount of GHC200,000 with three sureties, including two public servants, by the court presided over by Mrs. Evelyn Asamoah.
The prosecution explained that in May 2023, Addison offered his half plot of land in Abbeyman, Accra, for sale. The complainant and her husband expressed interest in purchasing the land, and after negotiations, they agreed on a price of GHC70,000. An initial payment of GHC20,000 was made, with the balance due on August 31, 2023.
Upon the complainant’s return from the USA on August 31, 2023, she found it impossible to contact Addison for the outstanding payment. Upon investigation, it was discovered that Evelyn, the second accused person, was developing the land, claiming to have bought it from Addison.
In International News
Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail launched on Monday the Real Estate Registry platform and the Real Estate Indicators platform on the sidelines of the Saudi Proptech Summit.
Proptech Summit is the first conference specialized in real estate technologies aiming to digitize the sector to achieve Vision 2030 goals.
The event, which kicked off on Monday, will encompass a comprehensive review of the key technical advancements in the real estate sector, sharing beneficiaries’ experiences, and engaging in discussion sessions and workshops with over 25 speakers representing 20 countries.
The summit will be complemented by a real estate technical exhibition featuring the involvement of local and international real estate and technical companies and platforms.
Speaking at the inauguration, Hogail stressed the importance of real estate technology and its role in developing the sector’s future to reach a prosperous economy by providing an appropriate environment for growth, creating job opportunities, developing investments, and seizing great potential in the Kingdom.
The minister pointed out that real estate technologies support the culture of innovation, provide distinctive opportunities for the sector’s growth, and help attract the best international expertise to be a platform that supports real estate technology.
Source : Joycelyn Marigold & Diana Okyerebea – Property Express News