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Company News of Friday, July 12, 2019
Source: Myjoyonline.com
2019-07-12
Mr. Ofori-Atta stated that all arrears of 2017 and 2018 had been fully settled
The government claims to have cleared all debts owed to GEFFUND until April of this year.
Finance Minister Ken Ofori-Atta revealed this information by answering a question posed in Parliament by Akatsi North MP Peter Nortsu Kotoe about "why the ministry has not unblocked the funds allocated to the Ghana Education Trust Fund (GETFund). August to November 2018 and January to May 2019 to allow GETFund to meet its obligations?
Mr. Ofori-Atta noted that all transfers due to them for 2017 and 2018 are fully paid and that the 2019 transfers due to them were also paid until April.
He said that "we have settled the arrears of more than 400 million GH ¢ which we inherited in 2016, with the exception of applications for a total amount of 76 606 349,42 GH, which we We have not reconciled yet. "
Recent revenue measures yielding results
The minister told Parliament that the tax measures implemented recently are achieving the expected results.
"Over the last three years, the collections have experienced impressive growth of 32.3% and 37.6% in 2017 and 2018," he added.
Mr. Ofori-Atta, for example, indicates that since the introduction of the paperless system in September 2017, the turnover has increased by 51% (from GHG 1.8 billion in 2016 to 2.8 billion GH ¢ in 2018).
The Minister also highlighted these key points
? Reduce clearance time by more than 50% for compliant transactions
? Reduced transaction cost: The average 20-foot container clearance cost has been reduced by 75% (from 1,200.00 to 320.00 GH) for compliant transactions. Elimination of forgery of paper copies of the customs declaration.
Cargo tracking has had a positive impact in the ports:
? In the last quarter of 2018, the policy impact badessment revealed a marginal increase in import receipts of about 8.3 percent (FOB reported F6.66 million vs. FOB 261 million badessed) .
? The first quarter results of 2019 also indicate a 4.1% increase in import receipts, a direct result of this policy, with a reported FOB value of 471 million GHC and an estimated FOB value of 490 million GH. .
? The permanent scraping of bills has been eliminated by about 80%.
? Information is now available to detect any alleged extra billing activity by importers engaged in capital flight activities; money laundering, mispricing transfer prices, etc. Since its launch, more than 3,285 suspected cases of overbilling have been identified.
The transformation of the port also resulted in a 50% reduction in the reference values for general merchandise and a 30% reduction in the values of home delivery (HDV) on vehicles was announced on April 4, 2019.
Transfer of 20 customs officers
Mr. Ofori-Atta said: "Mr. Speaker, together with the Minister of Transport, yesterday I went to the port of Tema to continue to monitor the impact of these reforms by my department. Apparently, my visit sparked discussions and 20 customs officials were fired on sight.
Mr President, that is not correct. What is really happening is that some 20 officers who have lost their positions and / or have been in the same role for years have been transferred to other positions. "
Clearance of judicial debts
The minister said the government's approach was to renegotiate most of these debts and ensure that the necessary savings are realized.
Ken Ofori-Atta added that "we managed to save the taxpayer up to 90 million GH through negotiations. In another case, we negotiated savings of more than 130 million GH on a claim greater than 180 million GHS. "
According to the Minister, the outstanding debt related to judgments in January 2017 amounted to 482,413,354.13 GH ¢. In addition, several cases have been pending before the courts. of this amount, an additional 197,076,438.15 GH ¢ were crystallized, bringing the total amount to 679,489,792.28 GH ¢.
Imputation of business registration fees without Parliament's approval
Mr. Ofori-Atta added: "We have asked the Public Procurement Officer to suspend the application of all fees and charges that have not been approved by Parliament in accordance with Law 983".
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