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ABOUT US.

We founded WUPE ENTERPRISE with one goal in mind: providing a high-quality, smart, and reliable online shop. Our passion for excellence has driven us from the beginning, and continues to drive us into the future.

GHANA DEBT AND ITS IMPACT ON OUR ECONOMIC DEVELOPMENT.

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  By the year 2000, the government of Ghana had borrowed so much that the country was in  debt distress . It then subscribed to the  Heavily Indebted Poor Countries initiative  of the International Monetary Fund and World Bank. Consequently, much of the country’s external debt of over US$4 billion was written off by creditors. By the time the initiative ended in 2006, Ghana’s total public debt stock was US$780 million (25% of GDP). The debt stock has since risen by 7000% to  $54 billion, which is 78% of GDP . The current debt to GDP ratio is 78%, while the average for developing countries is 60%. Economist, Adu Owusu Sarkodie, explains how this happened, why it’s a problem and what can be done. How did Ghana get into this situation? After the Heavily Indebted Poor Countries initiative ended in 2006, the public debt stock has largely been driven by the continuous accumulation of budget deficits (48.6%), the currency deprecation (28.2%), and off-budget borrowings ...
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DOMESTIC TAX

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  Domestic Tax Domestic taxes are taxes chargeable on profits or gains under the laws of  the country in which an entity is established or a perso n is a resident. Domestic Taxes are classified under Direct and Indirect Taxes. Direct tax is intended to be paid by the person or the organization on whom/which the tax is actually levied, the impact and incidence being on the same person or organisation. eg. Income tax, Capital gains tax and Gift tax. Indirect tax, however, is levied on one person with the expectation that the tax will be shifted or passed on to another. The impact and incidence here, are on different persons. eg. Value Added Tax. With the transformation of the internal structures of the Ghana Revenue Authority (GRA), The Operational Division was created for revenue mobilization and it is made up of the  Domestic Tax Revenue Division (DTRD ) and the  Customs Division (CD).      The DTRD was formed to be responsible for the administration a...
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HOW TO PREPARE BUDGET FROM THE 2021 - 2025

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how to prepare account for small scale business

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   Select an accounting method First order of business when setting up your books is to choose an  accounting method . Here are the accounting methods you can choose from: Cash-basis : Least difficult accounting method Accrual : Most difficult accounting method Modified cash-basis : Mixture of cash-basis and accrual Cash-basis accounting  does not require extensive accounting knowledge. With this method, record the transaction when money changes hands. That means you record income when you receive payment. The cash-basis method only uses cash accounts (e.g., expense, income, etc.). Accrual accounting  requires the most accounting knowledge and is more time consuming for small business owners. With accrual, you must record income when your transaction takes place, with or without the transfer of money. And, record expenses when you’re billed. The accrual method uses more advanced accounts and allows you to record long-term liabilities. Modified cash-basis, or...
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Tax calculation in Ghana

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  Tax calculation in Ghana   The table below details the new monthly income tax bands and rates generally applicable to the chargeable income of resident individuals: Year 2021 Chargeable Income GH¢ Rate % Tax Payable GH¢ Cumulative Income GH¢ Cumulative Tax GH¢  First 319 0 0 319 0  Next 100 5 5 419 5 Next 120 10 12 539 17 Next 3 000.00 17.5 525 3 539.00 542 Next 16 461.00 25 4 115.25 20 000.00 4 657.25 Exceeding 20 000.00 30       The chargeable income of non-resident individuals is generally taxed at a flat rate of 25%...
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