The Office of the Registrar of Companies (ORC) will send inspectors to company offices to conduct compliance audits, focusing on statutory registers (members, directors, etc.), annual returns filings, and other compliance requirements. Reach out to Secretary & Associate for your compliance solutions at secretary@bvsgh.com / +233 550 301 080.
Starting from May 1, 2024, the Registrar’s Office will enforce a one-time administrative penalty of GHC1,000.00 on defaulting companies, in accordance with the Companies Act, 2019 (Act 992). Reach out to Secretary & Associate for your compliance solutions at secretary@bvsgh.com / +233 550 301 080.
The Office has commenced legal processes to remove Companies Limited by Shares in default for more than two (2) years from the Companies Register by the end of 31st May 2024. This action is prompted by companies’ failure to comply with Section 126 of the Companies Act 2019 (Act 992), neglecting to file Annual Returns
The Chief Inspector of Mines, also Chief Inspector of Explosives of the Minerals Commission has issued a directive stating that the transportation of Ammonium Nitrate (AN) must now be done under an Armed Police Escort on public roads. This directive is in response to a recent incident involving the theft of Ammonium Nitrate and diesel
The Ghana Revenue Authority (GRA) has announced the implementation of the Emission Levy Act, 2023 (Act 1112) which aims to impose a Levy on carbon dioxide equivalent emissions from internal combustion engine vehicles, with a particular focus on vehicle owners in the general public. The introduction of this levy aligns with the government’s commitment to
BVS Compliance Watch: GRA Implementation of Emission Levy Act, 2023 (Act 1112) Read More »
The Social Security and National Insurance Trust (SSNIT) has announced the approved increased maximum and minimum insurable earnings for 2024 by the National Pensions Regulatory Authority (NPRA) as per Section 63(3) of the National Pensions Act, 2008 (Act 766) as follows: Maximum insurable earnings GHS52,000.00, equivalent First Tier Contributions as GHS7,020.00; and Minimum insurable earnings
The Social Security and National Insurance Trust (SSNIT) has announced the pension indexation rate for 2024. This decision was made in consultation with the National Pensions Regulatory Authority (NPRA) and as per Section 80 of the National Pensions Act, 2008 (Act 766). Monthly pensions have been increased by 15% for the year 2024. The highest-earning
BVS Compliance Watch : SSNIT Announces 15% Overall Pension Indexation Rate For 2024 Read More »
The Bank of Ghana (BoG) has announced a notable change for the 2024 renewal of exemptions to charge in foreign currency. Starting this year, applicants will be required to pay a non-refundable processing fee of US$5,000 or its cedi equivalent to facilitate the renewal process. This fee, designed to cover administrative costs, signifies the BoG’s
The Office of the Registrar of Companies (ORC) hereby reminds companies of their obligations to: File their Annual Returns, Update their Company Names to conform to the new Companies Act 2019, Furnish the office with their current Beneficial Ownership information, by 31/12/2023. Failure will attract a penalty of GHS 300 for each day the default
BVS Compliance Watch – ORC Filing Reminder! Read More »
The Supreme Court of Ghana has ruled that certain sections of the Companies Act, 2019 (Sections 13 (2) (h) (i), (ii), and 172 (2) (a) (i), (ii)), which prevent individuals charged with criminal offenses involving fraud or dishonesty from becoming directors or promoters of a company, are unconstitutional and therefore invalid. This means that individuals
3 Sections of Companies Act unconstitutional — Supreme Court Read More »
