Pulse Business Wrap – 6th June, 2016

Gov’t assures mining firms of protection
Government is concerned about the activities of illegal miners derailing the investment of mine operators, Minister of Land and Mines, Nii Osah Mills has said

Speaking at the 88 annual general meeting of the Ghana Chamber of Mines, Mills said government is concerned about the invasion of mines by illegal miners also known as galamseyers.

He also promised that law and order will be restored at various mine sites.

VAT not 3% as GUTA claims- Finance Ministry clarifies

The Ministry of Finance has denied assertions by the Ghana Union of Traders Association that it has granted a flat VAT rate of 3% to traders.

According to the Finance Ministry all traders are expected to pay a 17.5% Value Added Tax on all chargeable goods and services and not 3% as being announced by GUTA.

GUTA last week complained about the Ghana Revenue Authority’s reluctance to implement a purported 3% flat rate policy that GUTA claims the Ministry of Finance has sanctioned.

We go to the currency market
Currency Buying Selling
Dollar 3.89 4.19
Pound Sterling 5.63 5.93
Euro 4.35 4.65

On how your stocks performed on the GSE Index today
Uniliver Ghana were the biggest gainers of the day, gaining 1p to close 8.48….whereas UT Bank were the biggest losers of the day, losing 1p to close at 0.07p

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