UG’s Finance Directorate has partnered with the Office of Research Innovation and Development (ORID), to organise a withholding tax workshop under the theme, “Understanding and Complying with Withholding Tax-Related Laws Applicable to Research and Grant Management Activities of the University of Ghana.”
The workshop was intended to expand knowledge and understanding of laws regarding withholding taxes, as well as share inclusive ideas to help achieve the vision and mission of the University.
In her welcome remarks, Mrs. Bernice B. Agudu, the Director of Finance, highlighted the significance of the workshop as a way of enlightening unit members to be abreast and expand their knowledge about laws applicable to research and grant management activities in the University. She further urged them to strictly adhere to all withholding laws and other laws governing their work ethics, as the Ghana Revenue Authority will ensure that all institutions comply with the laws.
Mrs. Bernice B. Agudu, the Director of Finance
Prof. Felix Ankomah Asante, Pro Vice-Chancellor in charge of Research, Innovation and Development (RID), stated that, “the workshop is between my office and the Finance Directorate. I hope it serves its purpose and will enable us have a proper understanding and comply with every law regarding withholding taxes in delivering our work.”
Prof. Felix Ankomah Asante, Pro Vice-Chancellor in charge of Research, Innovation and Development (RID)
In his presentation as the main speaker, Dr. Abdallah Ali-Nakyea, Senior Lecturer at the University of Ghana School of Law, focused on the efficiency in managing the research grants of the University and ultimately understanding and adequately complying with tax laws to avoid any problem that will affect the University and its integrity.
He provided an overview of withholding tax and further outlined the types.
Dr. Abdallah Ali-Nakyea, Senior Lecturer at the University of Ghana School of Law
Dr. Ali-Nakyea also called on all Principal Investigators and Accountants to work together to minimise tax liability to the University as adherence to the provisions of the tax laws will save the University from penalties and interest for noncompliance.
Prof. Mohammed Amidu, Professor of Accounting and Finance at UGBS, as the supporting speaker, advocated for reasonable and legitimate withholding tax rates for the University. Prof. Amidu concluded his remarks by encouraging all to take steps to make good use of the laws while also seeking counsel from one another.
Prof. Mohammed Amidu, Professor of Accounting and Finance at UGBS
Attendees were engaged in a Q&A session after the presentations.
In closing remarks, Pro VC (RID), Prof. Asante thanked the attendees for making time for the workshop and noted that the PowerPoint presentation used for the workshop will be emailed to all participants; therefore, members should make good use of it as a working document while maintaining a spirit of teamwork and a common voice.
The workshop, which was held at the Great Hall, also had a virtual component for online participants.
