2012-04-27
CASH FLOW AND TAXES

My issue is governments like that of Ghana requiring organisations to withhold taxes at 5% on payments made to resident persons for goods and services and at the same time issuing provisional assessment to this persons, payable quarterly. I think it is too much of a burden on these companies and governments should therefore find a way of dealing with it, where the companies will be suffering only once on provisional tax payments,either the withholding taxes or the quarterly payment on provisional assessments. I think this will help a lot of businesses during a time like this where credit is hard to come by, and cost of credit is very expensive.

2011-09-12 | Alhassan Baako Kambalah Abdulai
In our second SMP Quick Poll

Our Year-End SMP Quick Poll revelaed burden of regulation and keeping up with new regulation and standards as the top challenges (see http://www.ifac.org/news-events/2012-02/year-end-smp-quick-poll-reveals-burden-regulation-and-economic-uncertainty-top-c). The poll went on to reveal that the aspect of regulation that poses the greatest challenge for SMPs and their SME clients is pace of change, more so than volume or complexity.

What single regulatory change/measure do you think would most help ease the regulatory burden for your practice and its clients?