The Tax Man Is Coming For Your Online Business

The Ghana Revenue Authority (GRA) has set a revenue target this year and it’s setting its sights on e-commerce in Ghana to help achieve that target.

The GRA’s target in 2022 is GHC 2.7 Billion and it’s targeting betting, gaming, and e-commerce companies this year. They’ve also had discussions with online companies including Facebook, Google, Netflix, Twitter, Instagram, WhatsApp, and Tiktok.

If you’re a registered business and operate an e-commerce business online, it’s mostly likely you’ll have to pay an e-commerce tax. There’s not much details on how much you’ll need to pay but the GRA plans on starting this online tax collection in the second half of 2022.

The tax man cometh.

Now onto the news for this week:

Hubtel Launches Its Operations In Cape Coast

Hubtel has officially expanded its operations by officially launching its app to the residents of Cape Coast.

Stitch Raises $21 Million In Series A To Build the Financial Infrastructure to Enable Africa’s Thriving Fintech Sector

API fintech company Stitch announced a $21 million Series A funding round, led by The Spruce House Partnership.

Remedial Health Joins Y Combinator And Raises $1 Million In Pre-seed Round

Remedial Health, a healthtech startup that develops solutions to make Africa’s pharmaceutical sector more efficient, has raised $1 million in pre-seed funding

Ear1 Adds Bitcoin Features Including Deposits And Payouts

Ear1, a social app from the creator of Bitsika, David Atsu, has added new functionality to its app to give it a more global reach. The Ear1 app has now added Bitcoin deposits and payouts

Flutterwave Raises $250 Million In Series D Funding; Valuation Rises to Over $3 Billion

Flutterwave, a leading technology company, announced today that it has raised USD $250 million in Series D funding, valuing the company at over $3 billion

MTN Group Debuts New Logo As It Transitions From A Telco To A Tech Company

Telecommunications Group MTN has debuted a new logo ahead of an official brand refresh at the end of February.

5 Payment Apps For Sending Cross Border Payments In Africa

Sending money to friends and loved ones abroad used to be a chore. Thanks to fintech, cross-border payments have become much easier and cheaper.

Earnipay Raises $4 Million In Seed Funding to Provide On-Demand Salary to Employees in Africa

Earnipay, a financial technology solution that provides flexible and on-demand salary access to income-earners, has closed a Seed round of $4 million