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Young Entrepreneurs schooled on Business Regulatory & Tax Compliance

 Vivian Dzoboku I Voltaonlinegh.com |

Seventeen young entrepreneurs have been sensitised on the importance of being regulatory and tax compliant in their business operations.

At an advocacy programme organized by Ho Node Hub in collaboration with Social Enterprise Ghana and Reach for Change, for young business owners especially females on February 18, 2022, the participants were taken through processes of business registration, acquiring local assembly licenses, as well as tax registration and filing.

Mr. Dickson Agbenya, Budget officer for Ho Municipal Assembly advised participants on the importance of acquiring a business permit from the Assembly, saying, that legitimises the existence of the business within the municipality, while the proceeds also contribute to developmental projects in the municipality.

He noted that the Assembly was able to raise 2.6 million cedis by the end of 2021 as internally generated fund to support developmental projects, and targets 4 million cedis by end of 2022.

He further encouraged all to renew their licenses annually as that was the only means the assembly can meet their target and also advised them to freely walk to the assembly for any assistance regarding their business operations.

On his part, Mr. John Fiawoli from Ghana Revenue Authority (GRA) Ho, explained the processes a business or an individual had to follow to register with them and fill returns.

He said tax registration was now a one-time process which cost Ghc7.50p for enterprises and Ghc10 for both company and partnerships.

He advised all not to shield relevant information about their business to GRA officers when they visit their office.

The participants, after the summit admitted the programme was beneficial one since they hardly get the opportunity to visit the Assembly or the GRA office to make enquires.

The summit equipped participants with much-needed information in taxation and licensing.

Source: www.voltaonlinegh.com

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