BUSINESS NEWS

GCNET pays dividend to government

GCNET pays dividend to government

The Ghana Community Network Services Limited (GCNet) has presented a total of GH¢27 million as dividend to the government to cover the period April 2016 to March 2017.

Yesterday the company paid GH¢17 million while first payment of GH¢10 million was made in the second half of 2016.This represents a GH¢2 million increase over the 2015 figure of GH¢25 million.

Meanwhile, the company has filed its tax returns for the same period to the Ghana Revenue Authority (GRA).

The Executive Chairman of GCNet, Dr Nortey Omaboe, in the company of the General Manager, Mr Alwin Hoegerle, presented the cheque to the Minister of Finance, Mr Ken Ofori-Atta, in Accra yesterday.

The company also presented some policy documents and recommendations to the ministry that would help in revenue mobilisation for the country.

Obligation

Presenting the cheque, Dr Omaboe said the presentation was in fulfilment of the state agency’s obligation to pay dividends for development projects.

He said the company did everything it could to increase the payment, adding that it would work harder to increase it next year.

“As an institution, we will continue to support the activities of the government to help in development projects,” he said.

More support

Mr Ofori-Atta lauded the company for paying its dividends and tax returns on time, saying that was encouraging.

He called on institutions in the country to file their tax returns and dividends promptly.

He said even though the government had projected about eight per cent budget deficit, it would need the support of companies and institutions in the country to continuously file their revenue and tax returns.

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He said the GCNet ought to continue to play its role more efficiently and effectively and assist the government to identify the loopholes in tax mobilisation through technology.

Mr Ofori-Atta also lauded the company for increasing its dividend for the period.

Story by the Daily Graphic

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