Maker Hybrand

Maker Hybrand MH is a Firm of Chartered Accountants, Tax Practitioners, Business Management Consultants & Advisory

Corporate Taxation in GhanaCorporate taxation plays a vital role in the economic growth and development of any nation, i...
27/07/2023

Corporate Taxation in Ghana

Corporate taxation plays a vital role in the economic growth and development of any nation, including Ghana. It is essential for businesses operating in Ghana to have a thorough understanding of the corporate tax rates, regulations, incentives, and tax planning strategies in order to navigate the tax landscape effectively. In this blog post, we will provide an overview of corporate tax rates and regulations in Ghana, explore the tax incentives available for businesses, and discuss tax planning strategies that can help minimize corporate tax liabilities.

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Corporate taxation plays a vital role in the economic growth and development of any nation, including Ghana. It is essential for businesses operating in Ghana to have a thorough understanding of the corporate tax rates, regulations, incentives, and tax planning strategies in order to navigate the ta...

Ghana’s Financial Institutions Auditing: Safeguarding Trust and Stability.In Ghana, the integrity and stability of finan...
26/07/2023

Ghana’s Financial Institutions Auditing: Safeguarding Trust and Stability.

In Ghana, the integrity and stability of financial institutions play a crucial role in the country’s economic growth and development. Auditing serves as a vital tool in ensuring transparency, accountability, and trust within these institutions. This blog post aims to delve into the role of audits in safeguarding the integrity of financial institutions in Ghana. We will explore the specific regulations and requirements applicable to auditing banks and other financial entities, examine case studies that demonstrate the importance of audit services in identifying and preventing financial fraud, and discuss future trends and challenges in auditing financial institutions in Ghana.

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In Ghana, the integrity and stability of financial institutions play a crucial role in the country’s economic growth and development. Auditing serves as a vital tool in ensuring transparency, accountability, and trust within these institutions. This blog post aims to delve into the role of audits ...

Intellectual Property Rights in Ghana: Safeguarding Innovation and Creativity.Intellectual property (IP) plays a crucial...
25/07/2023

Intellectual Property Rights in Ghana: Safeguarding Innovation and Creativity.

Intellectual property (IP) plays a crucial role in promoting innovation, protecting creativity, and driving economic growth. In Ghana, the recognition and protection of IP rights have gained significant importance in recent years. This blog post aims to provide a comprehensive understanding of intellectual property rights in Ghana, highlighting their significance for businesses, the types of IP rights available, the registration processes, the benefits of protection, challenges and infringements, and practical tips for safeguarding and enforcing these rights.

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Intellectual property (IP) plays a crucial role in promoting innovation, protecting creativity, and driving economic growth. In Ghana, the recognition and protection of IP rights have gained significant importance in recent years. This blog post aims to provide a comprehensive understanding of intel...

Financial Analysis: Why Should Business Conduct it?Financial analysis involves utilizing financial data such as income s...
24/07/2023

Financial Analysis: Why Should Business Conduct it?

Financial analysis involves utilizing financial data such as income statements, balance sheets, and cash flow statements to evaluate a company’s performance and provide recommendations for improvement. Some organisations may be hesitant to delve into their financial figures due to improper records, lack of expertise in data analysis, or simply not recognizing the need for financial analysis. However, once the importance of financial analysis is recognized, there is no turning back.

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Financial analysis involves utilizing financial data such as income statements, balance sheets, and cash flow statements to evaluate a company’s performance and provide recommendations for improvement. Some organisations may be hesitant to delve into their financial figures due to improper records...

mportance of Payroll Outsourcing for Small Businesses in GhanaManaging payroll is a crucial aspect of any business, and ...
20/07/2023

mportance of Payroll Outsourcing for Small Businesses in Ghana

Managing payroll is a crucial aspect of any business, and for businesses in Ghana, it can be especially challenging. The complexities of Ghanaian tax and labour regulations, combined with limited resources, can overwhelm business owners. However, there is a viable solution: payroll outsourcing. We will explore the key benefits of payroll outsourcing for small businesses in Ghana, highlighting how it can help save time, resources, and ensure compliance with local tax and labor regulations.

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Managing payroll is a crucial aspect of any business, and for businesses in Ghana, it can be especially challenging. The complexities of Ghanaian tax and labour regulations, combined with limited resources, can overwhelm business owners. However, there is a viable solution: payroll outsourcing. We w...

The New (2023) Employee Income Tax (PAYE) In GhanaIn April 2023, Ghana’s Parliament passed the Income Tax (Amendment) Ac...
19/07/2023

The New (2023) Employee Income Tax (PAYE) In Ghana

In April 2023, Ghana’s Parliament passed the Income Tax (Amendment) Act, which brought significant changes to the Income Tax Act. These amendments encompass revised income tax rates for individuals, the introduction of a withholding tax rate on asset and liability realisation, and the addition of an extra income tax bracket. Moreover, the amendment introduced a minimum chargeable income, potentially linked to the earlier National Daily Minimum Wage increase announced by the National Tripartite Committee. These changes are expected to have a substantial impact on Ghana’s economy and its workforce.

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In April 2023, Ghana’s Parliament passed the Income Tax (Amendment) Act, which brought significant changes to the Income Tax Act. These amendments encompass revised income tax rates for individuals, the introduction of a withholding tax rate on asset and liability realisation, and the addition of ...

Why Business Needs Professional Audit and Assurance ServicesIn today’s dynamic and competitive business environment, mai...
18/07/2023

Why Business Needs Professional Audit and Assurance Services

In today’s dynamic and competitive business environment, maintaining financial transparency and accountability is crucial for the success and growth of any business. Professional audit and assurance services play a vital role in ensuring that businesses comply with regulatory requirements, identify potential risks, and make informed financial decisions. we will explore the importance of conducting regular audits for businesses , the benefits of hiring a professional audit and assurance firm, key areas of focus during the audit process, and how audit services help businesses comply with regulatory requirements.

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In today’s dynamic and competitive business environment, maintaining financial transparency and accountability is crucial for the success and growth of any business. Professional audit and assurance services play a vital role in ensuring that businesses comply with regulatory requirements, identif...

Understanding the Audit Process in Ghana: A Step-by-Step Guide.In Ghana, the audit process plays a crucial role in ensur...
17/07/2023

Understanding the Audit Process in Ghana: A Step-by-Step Guide.

In Ghana, the audit process plays a crucial role in ensuring financial transparency, accuracy, and compliance with regulatory requirements. For businesses and organisations, understanding the audit process can help them prepare for a successful engagement with auditors. This blog post aims to provide a comprehensive overview of the audit process followed by accounting firms in Ghana. We will explore the different stages involved, the roles and responsibilities of auditors and auditees, common challenges faced, and effective strategies to overcome them.

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In Ghana, the audit process plays a crucial role in ensuring financial transparency, accuracy, and compliance with regulatory requirements. For businesses and organisations, understanding the audit process can help them prepare for a successful engagement with auditors. This blog post aims to provid...

Introduction Of A Minimum Chargeable Income Regime In GhanaThe Income Tax (Amendment) Act, 2023 has introduced a minimum...
13/07/2023

Introduction Of A Minimum Chargeable Income Regime In Ghana

The Income Tax (Amendment) Act, 2023 has introduced a minimum chargeable income provision which requires businesses that have declared losses for the previous five years of assessment to assess and pay tax on a minimum chargeable income of 5% of turnover.

Minimum chargeable income tax paid is not a qualifying deduction for tax purposes.

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The Income Tax (Amendment) Act, 2023 has introduced a minimum chargeable income provision which requires businesses that have declared losses for the previous five years of assessment to assess and pay tax on a minimum chargeable income of 5% of turnover. Minimum chargeable income tax paid is not a....

Government to securitize $3.3bn in Central Bank loansGhana plans to convert an estimated 40 billion cedis ($3.3 billion)...
12/07/2023

Government to securitize $3.3bn in Central Bank loans

Ghana plans to convert an estimated 40 billion cedis ($3.3 billion) of loans owed to the Bank of Ghana into bonds, making the Central Bank the single largest holder of domestic government securities and exposing it to the ongoing debt restructuring process.

According to people familiar with the matter, the bonds will be issued by the finance ministry and will also cover the interest owed to the Bank of Ghana.

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Ghana plans to convert an estimated 40 billion cedis ($3.3 billion) of loans owed to the Bank of Ghana into bonds, making the Central Bank the single largest holder of domestic government securities and exposing it to the ongoing debt restructuring process. According to people familiar with the matt...

Ghana Signs $517m USD Cooperation Agreement with the UNAccra – Friday, 28th April, 2023 … Ghana and the United Nations (...
11/07/2023

Ghana Signs $517m USD Cooperation Agreement with the UN

Accra – Friday, 28th April, 2023 … Ghana and the United Nations (UN) have signed the United Nations Sustainable Development Cooperation Framework (UNSDCF) agreement.

In the agreement, the UN will deploy an estimated US$517m over the period around three key pillars of work; Inclusive Economic Transformation; Equitable Access to Services; and Durable Peace.

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Accra – Friday, 28th April, 2023 … Ghana and the United Nations (UN) have signed the United Nations Sustainable Development Cooperation Framework (UNSDCF) agreement. In the agreement, the UN will deploy an estimated US$517m over the period around three key pillars of work; Inclusive Economic Tra...

10 HR Trends to Watch in 2023: What Every Business Needs to KnowHuman resources (HR) is a crucial aspect of any business...
10/07/2023

10 HR Trends to Watch in 2023: What Every Business Needs to Know

Human resources (HR) is a crucial aspect of any business, and staying on top of the latest HR trends is key to ensuring success. As we look to the future, here are 10 HR trends that every business needs to know:

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Human resources (HR) is a crucial aspect of any business, and staying on top of the latest HR trends is key to ensuring success. As we look to the future, here are 10 HR trends that every business needs to know: Remote Work as the New Normal The COVID-19 pandemic…

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