Connect with us

Tech

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

Published

on

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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

Kenya’s e-commerce startup, tappi partners with KNCCI to launch digital services for MSMEs

Published

on

Kenya’s e-commerce startup, tappi, has announced a strategic partnership with the Kenya National Chamber of Commerce and Industry (KNCCI), to launch digital services for MSMEs in the country.

Co-founder and CEO of tappi, Kenfield Griffith, who announced the signing of the announced the signing of the Memorandum of Understanding (MoU) with the KNCCI, the collaboration will see the launching of a Sukuma Biz initiative which will enable tappi to deliver a unique package of digital services specifically geared towards bolstering online credibility and identity for the KNCCI’s 30,000 business members.

“KNCCI is one of Kenya’s most trusted industry bodies and with its extensive network of local businesses, they’re an ideal partner to accelerate our mission of empowering MSMEs to effectively establish strong reputations of their own in an online setting,” said Griffith.

“In order for this initiative to be successful, it was vital we worked alongside a partner with not only a strong, in-depth understanding of the most critical pain points Kenyan businesses face, but also the demographics which are most heavily affected by them.

“With this in mind, we’re incredibly proud to be joined by KNCCI on what we believe is not only a crucial step for MSMEs, but specifically women-led businesses, in equipping them with the digital tools to significantly drive Kenya’s economy forward,” he added.

Founded in 2022 by Griffith and Louis Majanja, tappi is an end-to-end digital commerce SaaS solution tailored for MSMEs, which allows business owners to download its app, add their “look and feel”, and promote their business through a three-step process that goes to Google Ads, Facebook Ads, and Instagram Ads using airtime credit or mobile money.

Also speaking on the partnership, Majanja said tappi has been on a “rapid growth journey capturing verified reviews on over US$3 million consumer transactions and engaging with over 150,000 consumers.”

He added that the startup had raised $1.5 million in December of 2023 through an oversubscribed pre-seed round of funding, and it recently made Ivory Coast its third market, having already moved into Nigeria.

“For a monthly fee of KES500, KNCCI members will receive their own business landing page on tappi’s platform featuring a KNCCI logo as well as access to 50 customer reviews via SMS, WhatsApp or additional channels, which will be integrated to their landing page.

“Members will also be able to send 250 text marketing messages directly to their customers.

“Leveraging tappi’s SaaS and enterprise-grade solutions, all KNCCI members will be able to generate SEO-optimised websites in less than two minutes based on eight simple questions devised by an intuitive chat tool,” he added.

Continue Reading

Tech

Job losses loom as Microsoft set to shut down Lagos tech centre

Published

on

An estimated 500 jobs are at risk following the decision of United States-based multinational technology giant, Microsoft, to close down its African Development Centre (ADC) located in Lagos, Nigeria.

Though no reason has been advanced for the impending closure of the ADC, industry experts say it may not be unconnected with the unfavourable economic policies of the President Bola Tinubu administration which has seen businesses suffer, while many foreign conglomerates have been forced to close shop and leave the country.

An inside source who pleaded anonymity, said Microsoft had in an internal memo, communicated to its members of staff on Monday about shutting down operations in Lagos.

“The affected employees would receive salary payments till June and continue to be covered by health insurance,” the insider said.

He added that the closure of the ADC will only affect Microsoft’s operations in West Africa but not its East Africa facility located in Nairobi, Kenya.

Microsoft had launched its $100 million African Development Centers initiative in 2019, establishing facilities in both Lagos and Nairobi.

In Nigeria, the tech giant hired more than 120 engineers when it was unveiled in 2022, and over the years, have growi its staff strength to more than 500 in total.

The company, in 2019, said it aimed to recruit 100 full-time engineers by the end of the year, and 500 engineers by the end of 2023 in its bid to tap into Africa’s innovation in fields like fintech, agritech and off-grid energy and hopes to tap into them.

“The ADC will be unlike any other existing investment on the continent. It will help us better listen to our customers, develop locally and scale for global impact,” Microsoft executive vice president, Phil Spencer, had said in Nairobi.

“Beyond that, it’s an opportunity to engage further with African partners, academia, governments and developers – driving impact and innovation in sectors important to Africa,” Spencer said.

Continue Reading

EDITOR’S PICK

Metro4 hours ago

Youth leader laments infringements on digital rights, language barriers in media access

Limbigani Nyirenda, Executive Director of Easterner Visionary Youth, has voiced his concerns regarding the infringement of digital rights by political...

Politics6 hours ago

Nigeria’s Senate wants capital punishment for drug trafficking

The Nigerian Senate has put forward a proposal to greatly increase the severity of punishments for drug trafficking. This would...

VenturesNow7 hours ago

Nigeria’s growth forecast for 2024 remains 3.3%— IMF

The International Monetary Fund (IMF) has upheld its projection of a 3.3% growth rate for Nigeria’s economy in 2024, an...

Metro11 hours ago

Tinubu restates commitment to making Nigeria self-sufficient in food production

Nigerian President Bola Tinubu has restated his commitment and determination to making Nigeria self-sufficient in food production before leaving office....

VenturesNow1 day ago

IMF, DR Congo agree on final review of loan deal

The International Monetary Fund (IMF) says it has achieved a staff-level agreement with the Democratic Republic of Congo (DRC) over...

Metro1 day ago

Disability rights group says Cyber Security Act protects politicians more than vulnerable citizens

In Kasama, the Disability Inclusion-Friendly Barn Development Foundation, dedicated to addressing the challenges faced by individuals with disabilities, says the...

Video1 day ago

Video: Nigeria’s Dosunmu-Ogunbi becomes 1st-black female to bag PhD in Robotics at University of Michigan

In this video, an inspiring Oluwami Dosunmu-Ogunbi, who is of Nigerian descent, speaks at the university’s College of Engineering convocation...

VenturesNow1 day ago

Egypt: Foreign debt rises by $3.5 billion in Q4 2023

According to data provided by the central bank on Thursday, Egypt’s foreign debt increased by $3.5 billion for the three...

VenturesNow1 day ago

Nigerian govt proposes VAT increase, new sharing formula

Nigeria’s presidential committee on fiscal policy and tax has argued for the necessity of raising the value-added tax (VAT) rate....

VenturesNow1 day ago

Best-to-Worst: Zambian currency hits record low

A shortage of hard cash and a severe drought that has caused power outages in copper-producing Zambia have made its currency,...

Trending