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The Tax Identification Number (TIN) will no longer be a prerequisite for the initial registration of a company from January 2019, said Registrar General, Jemimah Oware.
She said that providing a digital address would become the new requirement for business registration.
"This is because the Global Positioning System (GPS) will tell metropolitan companies, municipal bademblies and district bademblies (MMDAs) the location of businesses, so that local authorities can track and track them. issue operating licenses.
I want to make it clear that, starting next year, only foreigners will need a TIN to register their business because our digital platform is merged with that of the Ghana Revenue Authority (GRA), the Security Fund. Social and Social Security (SSNIT) and Metropolitan, Municipal and District Assemblies (MMDA), "she said.
In an interview with the Daily Graphic on the sidelines of a high-level dialogue on good corporate governance in Accra, Ms. Oware said that providing a digital address would become the new requirement for of business registration.
New Companies Act
She also hinted that the current Companies Act of 1963 would be replaced by a new one by the end of the year, an initiative that was intended to remove the bottlenecks of the old system and to make things easier.
For example, she stated that the new regime would create the Office of the Registrar General and make it an autonomous body to function properly.
"The draft law on the new Companies Act has been approved by the Cabinet, as well as by the Committee on Constitutional and Legal Affairs of the Parliament. We have read clause by clause and the bill is now being referred to the Department of Justice in Parliament for second and third reading. We hope the bill will be pbaded by the end of the year, "she said.
Ms. Oware stated that one of the salient features of the new legislation was the provision that followed for the creation of the Office of the Registrar of Companies, which was to be financially self-sustaining.
She indicated that her post would be removed from the Registrar General's department and would become an autonomous body with a board of directors composed of competent persons such as the Ministry of Justice, the Ghana Bar, universities and the United Nations. Institute of Chartered Accountants. , Ghana (ICAG).
"The bill also contains many punitive and enforcement mechanisms, so the Office of the Registrar will ensure the proper procedure is followed for the effective conduct of business," she said.
She added that the new law would eliminate, among other things, commissioners for oaths, minimum fairness requirements and requirements for registration purposes.
"The draft law on companies has also removed the constitution, which is a prerequisite for the registration of a company. You do not need an object either, which will make the registration process easier.
The law will also ensure that the Inspection Division of the Registrar General's Department is reorganized to enforce regulations under the Companies Act, "she said.
Appointment to boards
At a round table during the dialogue session, the chairman of the Institute of Directors, Ghana, Rockson Kwesi Dogbegah, pleaded for the adoption of a demanding legislation. that people be trained and certified before being appointed to boards of directors of public and corporate institutions.
He added that this is why professional standards and integrity could be integrated into corporate governance and also address corrupt practices.
"For political and other parish interests, individuals are appointed to the boards of public institutions, in particular without proper due process and background checks, leading to empty pegs. So there should be legislation that states that before appointing someone, he or she must be trained and certified, "he said.
Goro Boys
The Director General of the Federation of Private Enterprises (PEF), Nana Osei-Bonsu, lamented the negative consequences of the activities of third parties, commonly known as "Goro Boys", on the registration of companies. come to deal decisively with the situation.
"If the Registrar General's rules of engagement were effective and the service provided at a higher speed, the" Goro boys "would not work and did not bring money back to the public," he said.
He called on people in positions of trust to consider these offices as such and to act in such a way as not to hinder the provision of services to the public.
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