Tech

Ride-hailing companies in Ghana to pay Value Income Tax from January 1, 2024

Published

4 months ago

December 25, 2023

Ride-hailing companies operating in Ghana, including Uber, Yango, and Bolt will pay a newly introduced Value Income Tax (VIT) which will come into effect from January 1, 2024.

The Ghana Revenue Authority (GRA), which made the announcement on Saturday, said the introduction of the VIT for ride-hailing vehicle owners was as outlined in Section 22 of Regulations 2016, LI 2244.

“Effective January 1, 2024, commercial vehicle owners earning income from their operations are required to pay income tax on a quarterly basis,” the agency said.

The GRA further advised the companies to promptly update their digital platforms to accommodate the newly implemented tax regulations.

“Sections 1, 33 and 35 of the Revenue Administration Act, 2016 (Act 915) as amended, gives the Commissioner General the authority to give written directives, require any taxpayer to provide information or connect their digital system to the Commissioner General’s monitoring platform for the purpose of establishing the correct taxes payable to the state,” it said.

“Compliance procedures for ride-hailing companies
to adhere to the upcoming tax policy, ride-hailing companies must acquire a digital copy of the VIT sticker, verify its legitimacy with the GRA, and furnish the GRA with a quarterly roster of all vehicles operating on their platforms.

“Failure to comply with these regulations could result in penalties for both drivers and ride-hailing companies”, the statement stated.

According to the GRA, the
VIT entails quarterly income tax payments, aiming to boost fiscal responsibility in the industry and contribute to the broader economy.

Related Topics:Bolt Featured Ghana GRA Ride-Hailing Companies tax

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Tech

RepAir, Cella partner to launch carbon capture in Kenya

Published

2 hours ago

April 27, 2024

Akanimoh Etim

Global Direct Air Capture (DAC) firm, RepAir, has entered into a partnership with carbon storage technology company, Cella, to launch a first-of-its-kind innovative Carbon Capture and Storage venture in Kenya.

In a statement on its website on Friday, RepAir said the venture will see a replication of its “cultivating partnerships” with storage firms in Europe, U.S. and Africa.

“This storage agreement will streamline the sale of high-quality carbon credits to off-takers, enabling corporations to meet evolving ESG standards, manage offsets and advance towards net zero goals,” the statement issued by RePAir CEO, Amir Amir Shiner, stated.

“Our solution sets a new standard, requiring only 600 kWh per ton of CO2 captured, marking the lowest energy consumption on the market.

“This agreement is perfectly aligned with the launch of our commercial demonstrator in 2025, empowering RepAir to offer high-quality carbon credits to our customers.

“It will see to the establishment of a storage partnership with Cella aimed at creating dedicated value chains for extracting CO2 from the atmosphere and permanently storing it underground through in-situ mineralization.

Corey Pattison, CEO, Cella, who also issued a statement on the partnership, said “by partnering with Cella at our first demonstration site, RepAir can capitalize on two critical resources: the potential for truly permanent, highly verifiable carbon storage via mineralization combined with Kenya’s abundant renewable energy sources.

“Together these resources provide a comprehensive solution for capturing and storing CO2 for off-takers. This collaboration represents an extraordinary opportunity to nurture mutual growth.”

Tech

Intel Liftoff Hackathon 2024 calls for applications from African AI startups

Published

1 day ago

April 26, 2024

Akanimoh Etim

Applications for the 2024 cohort of Intel Liftoff Hackathon has opened for African AI startups designed to bring together aspiring tech entrepreneurs, software developers, and AI enthusiasts to collaborate, innovate, and create solutions to concrete African challenges.

In its second edition, the hackathon welcomes pioneering early-stage AI startup teams from the African continent, delving into experiments with LLM technology, a statement on the website of the organiser stated.

It added that the Intel Liftoff Hackathon for African AI Startups, which will be held online on May 27-31, is themed “Hack and Connect”, and will take place in partnership with Modus Africa, University Mohamed VI Polytechnic, Morocco

Other partners include TUT Hub of Artificial Intelligence Institute of South Africa, Prosper Africa, UM6P Ventures, FAST Accelerator, Innov8 Technology Hubs, and Open Startups International.

“The hackathon will feature hands-on workshops that will allow learning of AI essentials; three days of challenges with mentors to test skills; exhibition opportunities to showcase startups and forge partnerships with industry leaders; and networking opportunities to engage with fellow startups and gain insights from domain experts in the AI ecosystem,” the statement said.

“Winners will be invited to join the Intel Liftoff for Startups programme, and receive unique mentoring sessions with ecosystem partners and marketing opportunities with blog articles,” it concluded.