Tax
From The Report: Ghana 2014
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In conjunction with Deloitte, OBG explores the taxation system, examining Ghana’s investor-friendly environment. OBG talks to Felix Nana Sackey, CEO and Managing Partner, Deloitte.

Articles from this Chapter

Overview

The tax system provides clear rules and incentivises certain activities
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Forms Of Business Organisation The main forms of business organisation in Ghana are private and public limited liability companies, branches of foreign companies, partnerships, sole traders, companies limited by guarantee and unlimited liability companies. Limited Liability Companies A limited liability company is a company in which the liability of its members is limited to any unpaid amount on the shares held by them. Ghana’s Companies Code, 1963 (Act 179) allows an individual to have 100%…

Analysis

Tailored to small business: A look at International Financial Reporting Standards for SMEs
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Small and medium-sized enterprises (SMEs) pervade the business world. In virtually every jurisdiction ( including Ghana), from the largest economies down to the smallest, over 99% of companies have fewer than 50 employees. In most jurisdictions the law requires SMEs to prepare and publish financial statements and have them audited. The global trend in the past decade has been for jurisdictions to adopt International Financial Reporting Standards (IFRS) directly or to converge local Generally Accepted…

Interview

OBG talks to Felix Nana Sackey, CEO and Managing Partner, Deloitte
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Interview:Felix NanaSackey Should financial reporting standards be tailored to small and medium-sized enterprises (SMEs)? FELIX NANA SACKEY: The International Financial Reporting Standards (IFRS) for SMEs are a self-contained standard, incorporating accounting principles based on full IFRS that have been simplified to suit SMEs. IFRS for SMEs provides an alternative framework that can be applied by eligible entities in place of the full IFRS. Any company adopting IFRS for SMEs for…