The concepts of audit and assurance are intertwined, but they are not the same. Audit and assurance are often confused with each other or interchanged. This write-up seeks to explain the key differences between the two. Before we delve into the conundrum, let us first grasp the meaning of audit…
Context The World Bank Group aims to help Ghana towards creating a dynamic and diversified economy, greener job opportunities, for a more resilient and inclusive society. Ghana sits on the Atlantic Ocean and borders Togo, Cote d’Ivoire, and Burkina Faso. Its population is about 29.6 million (2018). In the…
Tax planning is very essential for anyone who wants to save money on taxes and improve their financial position. Tax planning involves analyzing the situation of an entity or individual and arranging their tax affairs in a legitimate manner to reduce their tax liability and maximize savings and profits. In…
Personal Income Tax (PIT) Personal Income Tax (PIT) is one of the tax types in Ghana. PIT is a direct tax which is calculated on the chargeable income of resident individuals and non-resident individuals to the extent to which that income has a source in Ghana. Resident individuals are taxed…
Ghana’s foreign direct investments have grown exponentially for many years now. Many entrepreneurs/ business owners (both Ghanaians and foreign nationals) have established businesses in Ghana and are doing massively well. To start a business in Ghana, it is imperative to understand the process of business registration which is governed by…