How to File Company Income Tax on the GRA Portal
1. Visit https://taxpayersportal.com. 2. Login with your TIN and Password. 3. Click on File Your Returns. 4. Select FILE RETURN. This will give you a dropdown of all the tax types. 5. Select Company Income Tax Return to file CIT. 6. Fill in the…
Accessing The Ghana.gov Portal
GHANA.GOV, a digital service and revenue collection platform, is now the primary means by which taxpayers will file returns, make payments, and request tax related services. Using Ghana.gov can take a bit of figuring out what to do next. We’ve put together these write ups…
HOW IS IT LIKE TO WORK IN SCG CHARTERED ACCOUNTANTS?
What’s our purpose? Our purpose is to use our knowledge in our area of expertise to provide solutions to businesses. Work context According to the ACCA, the principal forces driving change in the twenties are digitization, regulation, and stakeholder expectation. Stakeholders expect more business oriented…
How Ghanaian Businesses Can Prevent Occupational
We held a webinar on May 25, 2021, on how Ghanaian SMEs can prevent occupational fraud. Here is summary of the discussion. Ghanaian SMEs face increasing risk of occupational fraud because of our current business and economic environment. Occupational fraud is using one’s occupation to…
Why You Need a Financial Close Plan
If you struggle to issue timely financial statements, or your financial statement falls apart under scrutiny, you need a financial close process and a close plan. In the blog titled You need a close-process, we discussed the financial close process, and gave examples of close…
IFRS 15 – Revenue from Contract with Customers: The Five Step Model?
IFRS 15 – Revenue from Contracts with Customers (IFRS 15), which became effective from 1 January 2018, makes significant changes to accounting for revenue. In this article we highlight the fundamental changes introduced by IFRS 15 and use a case to show the steps in…
GHANA REVENUE AUTHORITY(GRA) EXTENDS FILING DATE & WAIVE PENALTIES
GRA has responded to the disruptions to business by the Coronavirus and introduced measure to ease tax compliance. The highlights of the measures are: Taxpayers who redeem all their outstanding debts due GRA by June 30, 2020, will be granted a remission of penalties on…
Cyber Security Tips for Your Small Business
As a small business owner, you might think your business is not a target for a cyber-attack. Your business is as much a target as the big businesses. The criminals know that small businesses have weaker defenses, so you are in their sight. What is…
Inventory Controls to Prevent Waste and Theft
Retailers, wholesalers, and manufacturers are typical businesses that hold inventory (stock). Inventory comes with risks such as damages, theft and obsolescence. It also ties up capital and has related administrative costs. You can lose money on inventory. But you don’t want to lose money so…
IFRS 15 – Revenue from Contracts with Customers: What is A Contract?
International Financial Reporting Standard (IFRS) 15 – Revenue from contracts with customers came into effect on 1 January 2018. It defines revenue and sets the rules for recognizing, measuring and disclosing revenue from contracts with a customer. Having a contract with a customer is a…
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