• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, June 7, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

GUTA set to close down unregistered foreign retail shops

April 20, 2021
Angeller AshongbyAngeller Ashong
in Vaultz Business
0
President of the Ghana Union Traders Association (GUTA), Dr Joseph Obeng, has expressed the need for government the Ghana Revenue Authority to avoid non-discriminatory taxing of businesses and ensure uniformity.

President of the Ghana Union of Traders Association, Dr. Joseph Obeng.

President of the Ghana Union Traders Association (GUTA), Dr. Joseph Obeng, has disclosed that the Association will resume the close down of unregistered foreign retail shops in May this year.

According to him, the exercise will cover retail centres in Kumasi, Accra, Takoradi and the Central Region.

“The taskforce meant to close the shops has not been active for a while. We shall resume somewhere in May 2021. This time around, we are targeting some major spots in Kumasi, Accra, Takoradi and others. It’s all about the law”.

Per data from the Association and the Ministry of Trade, some 200 unregistered foreign retail shops remain locked up in Accra and Kumasi.

RelatedPosts

Ghana’s Economy Projected To Grow By 4.8% in 2025

Pensioner Bondholders Awaits Government Decision On ‘Bond Buy Back’ Proposal

Dr. Nkumbaan Describes IMF Agreement As A Threat To Workers Standard Of Living

Commenting on this, Dr Obeng revealed that none of the 200 shops have proven “to have the right documents to operate”.

“It gives us more reason to keep them closed”.

Reopening of Nigerian retail shops

Currently, the former President for All Nigerian Communities in Ashanti Region, Chief Nkem Tony Onyeagolu, has called on President Akufo-Addo to direct the reopening of locked-up Nigerian shops.

Countering the request in a statement, the Ashanti Regional Branch of GUTA described as unfortunate, calls made on the President to reopen the shops.

GUTA further described the situation as “palpable falsehood and an insult to the president and the good people of the country”.

According to the Association, the presidential committee “enforced a parliamentary enacted law of the land”.  This law, GUTA revealed permits it to close down these shops without documentation.

“That is GIPC Act 865, which does not allow foreigners in retail business and did not work capriciously.

“That the said committee did not target any particular nation.  As the name goes, the committee is a public mandated one to ensure sanity and compliance among foreigners in the retail space”.

 GUTA further maintained that Chief Nkem lost sight of Ghana being “a sovereign state with laws and regulations”. This, it revealed, is meant to regulate the trading activities of the country despite “affiliation to some international bodies”.

It further revealed that the retail issues fall within the jurisdiction of the Committee on Foreigners in Retail Trade. In lieu of that, requesting the President to intervene is “an unnecessary interference” in the affairs of an independent body.

“The allegations that their monies and documents are locked up in the shops is also false. The committee allows retrieval of such items when genuinely proven”.

GUTA reacts to retail shop owners defiance to directive

The Association also recounted incidences whereby Nigerian retailers blatantly displayed wares in front of locked-up shops.

“Others have resulted to the use of motor bikes and distribution vans to patronize their customers both in the urban and rural areas.”

GUTA bemoaned the negative impact the activities these shops are having on Ghanaian businesses. It further called on the presidential Committee on Foreigners in Retail Trade to intervene in the ensuing problem.

According to the Association, the Committee must embark on the promised second and subsequent phases of the exercise. It explained that, this will “avert the collapse of our business” especially in this pandemic times.

Read Also: Covid-19 impact triggers $5 billion in capital flows from Africa

Tags: BusinessGhana NewsGUTANigerian retail shopsPresident Akufo-Addo

Related Posts

Ghana's Economy Projected To Grow By 4.8% in 2025
Sub Top Stories

Ghana’s Economy Projected To Grow By 4.8% in 2025

June 7, 2023
Pensioner Bondholders Awaits Government Decision On Fund Payment
Vaultz Business

Pensioner Bondholders Awaits Government Decision On ‘Bond Buy Back’ Proposal

June 6, 2023
Dr. Nkumbaan Describes IMF Agreement As A Threat To Workers Standard Of Living
Vaultz Business

Dr. Nkumbaan Describes IMF Agreement As A Threat To Workers Standard Of Living

June 5, 2023
Ghana Well Positioned With Excellent Proximity to Key Markets Around the World- GIPC
Vaultz Business

Ghana Well Positioned With Excellent Proximity to Key Markets Around the World- GIPC

June 3, 2023
Ghana Free Zones Authority Hits US$1.9 billion Export Revenue in 2022
Vaultz Business

Ghana Free Zones Authority Hits US$1.9 billion Export Revenue in 2022

June 2, 2023
CBG Partners with Development Bank Ghana to Train SMEs Under its Financial Empowerment Programme
Vaultz Business

CBG Partners with Development Bank Ghana to Train SMEs Under its Financial Empowerment Programme

June 1, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Investors express interest in Ghana’s Airport City II Project

Next Post

“Possible link” between Johnson & Johnson vaccine and blood clots- EMA

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Use of Single Currency will Promote African Economic Integration- Dr Yeo
Economy

Use of Single Currency will Promote African Economic Integration- Dr Yeo

by Stephen M.CJune 7, 2023
Gertrude Torkornoo Accepted As Chief Justice By Parliament
General News

Gertrude Torkornoo Accepted As Chief Justice By Parliament

by Samuel Y. OtibuJune 7, 2023
They Don’t Have Kobo, They’re All Sleeping Around – Sally Frimpong Mann Attacks
Entertainment

They Don’t Have Kobo, They’re All Sleeping Around – Sally Frimpong Mann Attacks

by Esther Korantemaa OffeiJune 7, 2023
Let’s Collaborate To Halt Climate Change– Lands Minister To Academia
General News

Let’s Collaborate To Halt Climate Change– Lands Minister To Academia

by Angeller AshongJune 7, 2023
UK’s Neptune Energy Involves in Acquisition Talks with ENI
Extractives/Energy

UK’s Neptune Energy Involves in Acquisition Talks with ENI

by Stephen M.CJune 7, 2023
Kegame Reshuffle Military Hierarchy
Africa

Kegame Reshuffle Military Hierarchy

by Sampson AnnorJune 7, 2023
Use of Single Currency will Promote African Economic Integration- Dr Yeo
Gertrude Torkornoo Accepted As Chief Justice By Parliament
They Don’t Have Kobo, They’re All Sleeping Around – Sally Frimpong Mann Attacks
Let’s Collaborate To Halt Climate Change– Lands Minister To Academia
UK’s Neptune Energy Involves in Acquisition Talks with ENI
Kegame Reshuffle Military Hierarchy
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In