introduction - firstcode management services€¦ · the registrar general’s department (rgd) has...

01 Firstcode ManageMent services

INTRODUCTIONAs businesses grapple with the COVID-19 pandemic, we at Firstcode have

considered the need to alert board members, investors and stakeholders of businesses in Ghana of the unprecedented disruptions going on in the

regulatory compliance environment. We publish this edition as the first of series of newsletters to inform risk managers and compliance officers about decisions and responsive measures taken by various regulatory bodies in Ghana.

This newsletter is still relevant if you are a potential business owner, compliance officer, board member or employee, and you would want to know what the current situation requires you to do to remain compliant.

It is without surprise how skeptical and anxious business professionals and investors would be regarding (mis)information on relaxed rules of enforcement and guidelines for continuous compliance. While compliance and governance remain important despite the crisis, owing to business sustainability and the going concern, the sudden disruption in operational and routine corporate activities could expose businesses to a new wave of risk, making compliance even more important and governance more relevant.

To attempt addressing the above, Firstcode has taken the trouble to collect and collate data from selected regulatory agencies and we continue to obtain revised and updated directives and guidelines from reliable sources in the Regulatory and Statutory Agencies to keep you informed.

We obtained the following information from these selected agencies:

a. Are the rules now relaxed for complying with the Companies Act?

b. Can I incorporate a business at this time?

c. Do I still require to file my returns?

d. Would other stakeholders understand if my business is non-compliant in these moments?

e. Is my data safe and secured while I attempt a virtual compliance?

f. Which offices of the regulatory bodies are opened and for what level of business?

g. Does the government directive provide a waiver of compliance in these moments?

h. Is there a penalty regime despite the pandemic?

The series of newsletters to be released by Firstcode during this COVID-19 period would address concerns and questions such as;

THE REGISTRARGENERAL’S DEPARTMENT

The Registrar General’s Department (RGD) has extended the

deadline for the filing of Annual Returns for Companies Limited by

Shares, Limited by Guarantee, External Companies and the Renewal

of Partnerships from 30th April 2020 to 30th June 2020 for all

Companies whose Financial Year ended 31st December 2019.

All other Companies whose Financial Year ends on 30th June,

2020 are expected to file by 31st December, 2020.

0302 664 692 / 0244 619 545 [email protected]

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However, companies who in spite of this extension fail to submit

their annual returns will be liable to pay an increased flat penalty

of GHS450.00 for non-compliance effective Monday 6th July, 2020.

In compliance with the President’s directive for businesses and institutions providing

essential services to continue to operate but observe the prescribed protocols to prevent

the spread of the virus, management of RGD urges clients, who wish to register new

businesses, renew or file their annual returns as well as re-register their businesses to

visit www.rgd.gov.gh to download the prescribed forms and complete them before they

submit the filled forms to the RGD. Kindly note, the RGD office in Accra has been closed to

the public during the stipulated lockdown period.

The RGD is entreating the public to use their online services and its payment options. Once

offices are opened to the public, all payments should be made at the Department’s on-site

Bank, Fidelity Bank Limited or online via www.rgdeservices.com and NOT to any individual

or Mobile Money Number.

02Firstcode ManageMent services

The GRA has put up some measures for taxpayers during this pandemic. The following are some tax directives;

The Ghana Revenue Authority (GRA) Domestic Tax Revenue Division offices in Accra,

Kasoa and Kumasi areas will be closed to the public during the stipulated lockdown

period.

GHANAREVENUEAUTHORITY

1. Extension of due dates for filing of tax returns from the standard 4 months to 6 months. Thus, companies whose financial year ened on 31st December, 2019 will have up to 30th June, 2020 to file their returns. Companies whose financial year ends on 30th June, 2020 on the other hand will have to file their returns by 31st December, 2020

2. Taxpayers are still expected to file their monthly returns (PAYE/VAT/WHT) by the due dates.

gra.gov.gh [email protected] 0552 990 000 0553 280 229 / 0505 854 350

3. Grant of waiver of penalties on principal tax liabilities owed by taxpayers who redeem their outstanding liabilities by 30th June, 2020.

4. Waiver of VAT on donations of stock of equipment and goods for fighting the Covid-19 pandemic.

5. Grant of deduction against income tax for private sector contributions and donations made towards addressing the COVID-19 pandemic;


Taxpayers of the affected offices can however file their returns and other documents

electronically by using the email addresses provided by the offices. Payment can also

be made to the bank accounts of the Domestic Tax Revenue Division offices provided

by the offices.

Taxpayers who file their returns in offices outside the lockdown areas are to note that

these tax offices are still open for operations and taxpayers are encouraged to file

returns that are due.


As part of measures instituted by Management of the SSNIT for the

safety of its clients and partners, SSNIT encourages all to pay their

contributions at any SSNIT partner bank or at any SSNIT branch before

the 14th day of every month to avoid congestion.

Social Security and National Insurance Trust


0302 611 622 [email protected]

The SSNIT Selected banks include; Standard Chartered Bank, Cal Bank,

Ecobank, Zenith Bank, First Atlantic Bank, UBA, Access Bank, CBA,

Société Générale, UMB, Fidelity Bank, Republic Bank, GCB Bank, ADB

Bank and FBN Bank Ghana.

However, SSNIT Branches are open for Contribution Report Submission,

Contribution Payment, benefits processing etc., during this partial

lockdown period.


ITEM HOTLINE/ EMAIL ALTERNATIVE HOTLINE

Expatriate work permit applications

0302 955 [email protected] 0302 962 919

Crew changes and movements

0302 955 [email protected] 0302 962 919

Vessel Security clearance(s) 0302 962 926 [email protected] 0302 956 482

Permit for clearance for explosives and radioactive sources

0302 962 926 [email protected] 0302 956 482

Operations that require Health, Safety and Environment (HSE) approvals

0302 956 477 [email protected] 0302 956 482

Procurement and contract approvals for offshore installations and other operational activities

0302 956 334 / 0302 962 [email protected] / [email protected]

0302 956 4820302 955 847

PETROLEUM COMMISSION https://www.petrocom.gov.gh/

The Petroleum Commission, in a notice to stakeholders, has advised all IOCs and other

service companies within the Upstream industry for which expatriate work permit is

required, to be mindful particularly of the mandatory 14 days’ quarantine and the imposition

of the restrictions, and also plan ahead of time in light of the mandatory 28-

day requirement for crew changes as indicated by the Commission.

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The essence of this advisory is to avert any last-minute request

for expatriate work permit applications that may compromise the

mandatory 14 days’ quarantine time while the imposition subsists.

In addition, the Commission has directed all companies on how to

access the services of the Commission through hot lines and emails

provided as well as new directives the Commission has put in place to

make access easier for clients. The Commission has also made available an e-portal access

on their website, which will act as a gateway for individuals and Companies to access all

information and data with just a click. The Commission has indicated that it will be open to

serve clients during the normal working hours from 08:00am – 05:00pm each day.


INVESTMENTGHANA

The nature of work of the GIPC brings the Centre into direct contact with

various visitors from around the globe and potential investors who seek

to invest or make enquiries. Due to the recent outbreak of the coronavirus

in the Country, the Centre has undertaken several measures to comply with the

Imposition of Restriction Act, 2020 (Act 1012) and in line with this, the GIPC has

closed all its branches to the general public till further directives from the CEO.

https://www.gipcghana.com/

PROMOTION CENTRE

A statement issued by the Centre, indicated that all local and foreign engagements,

events and public gatherings have also been postponed until further notice. The

Centre advised that all clients with very critical and essential matters related to

investment should contact the Centre via telephone or via the Centre’s social

media handles.

Clients are advised to access the online platform of the GIPC where forms

and other documents are accessible. Currently, the Centre is not accepting

new applications and renewal of investment licenses. However, application for

exemptions would be received through [email protected] and duly

processed.


The Ghana Free Zones Authority (GFZA) has put in place measures to

handle special requests from Manufacturing, food & beverage, plastic,

paper, oil & gas and pharmaceutical sectors. The Authority has further

advised that Free Zones Enterprises (FZEs) operating in the above-mentioned

sectors must make it a point to carry their GFZA issued IDs at all times when

going about their normal duties.

GHANA FREE ZONES AUTHORITY

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GFZAhttps://gfzb.gov.gh/

NAMES OFFICE CONTACT

Lauren Head Office, Registry 0306 219 666

Fred Head Office, Compliance 0268 855 759

Patience Tema Office 0244 381 169

Ricky Kumasi Office 0244 841 590

GFZA in response to measures to curb the spread of Covid-19 has closed down

its offices to the general public. However, all registrations, renewals and

transactions may be done electronically and enquiries can be done through the

following representatives of the GFZA;


ABOUT FIRSTCODE

Firstcode Management Services is one of the foremost providers of corporate support services in Ghana. We provide regulatory

compliance and management support services. We bring to clients our in-depth understanding of the Ghanaian business environment and our support expertise required by companies to enable them to focus on their core businesses.

For more information, please visit www.firstcodelimited.com


60A Westlands Boulevard,West Legon, Accra.

P.O. Box WY 2244,Kwabenya, Accra-Ghana.

[email protected]

w w w . f i r s t c o d e l i m i t e d . c o m

+233 (0) 302972263 / +233 (0) 302972264 / +233 (0) 243200921

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