The Government of Ghana, acting through its Ministry of Finance ("MOF") and Ministry of Power is pleased to announce that it is progressing towards a successful conclusion in the restructuring of a substantial portion of the debts owed by the Volta River Authority ("VRA").
The agreement when concluded, should lead to a comprehensive restructuring of VRA's balance sheet, based on concessions amounting to approximately GHS300 million granted by a number of domestic banks ("Lenders") with past due facilities with VRA.
Hon. Helen Mona Quartey, Deputy Minister of Finance has challenged the GCNET to ensure that the Tax Revenue Integrated Processing System modules are all deployed and operationalized in the Large and Medium Tax Payers offices by the end of the year. This, she explained, will not only give a boost to the tax modernization efforts but bring about efficiency in tax collection to enhance tax performance.
“We are therefore hopeful that all parties including yourselves are on course for Ghana achieving its Single Window status. This will go a long way to enhance trade facilitation even more and especially increase revenue”.