Tech

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

Published

12 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

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

2 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

3 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation