Governance Stakeholders’ Forum Organised
from l-r: Ms Sena Dake (Director, Internal Audit Directorate), Dr Abdallah Ali-Nakyea (School of Law) Professor Felix Asante (Pro VC, RID), Professor Mohammed Amidu (UGBS) and Mrs Bernice Agudu (Director of Finance)
The Finance and Audit Directorates in conjunction with the Office of Research, Innovation and Development (ORID) have hosted a Governance Stakeholders’ Forum on the theme ‘Understanding Withholding Tax Obligations on Grants’. The function took place on Thursday 10th February 2022, at the School of Law auditorium and streamed online.
The management of grants mandate strict adherence to the Country’s tax laws while maintaining UG’s obligations to third party donors. The complex balance of fulfilling the needs of donor agencies, vis a vis the application of Ghana’s tax laws necessitated the open forum.
The Forum was chaired by the Pro Vice-Chancellor, Research, Innovation and Development (ORID), Professor Felix A. Asante, and facilitated by the Director of Internal Audit, Ms Sena Dake and Director of Finance, Mrs Bernice Agudu.
Professor Felix Asante
With the considerable increase in research grants to the University of Ghana over the past decade, the Director of Finance stated it is important to provide adequate information on taxation to protect the interest of the University. The forum enabled resource persons to sensitize the wider UG Community and particularly Principal Investigators, Project Director’s on the statutory obligations of receiving grants.
Professor Mohammed Amidu
Presentations were delivered by Professor Mohammed Amidu of the UGBS and Dr Abdallah Ali-Nakyea of the School of Law who covered the subject areas of Effective Budgeting and Tax Planning for Research Grants and Understanding Withholding Tax Obligation on Research Grants respectively.
Dr Abdallah Ali-Nakyea
Participants engaged the presenters with questions, comments and contributions, and sought clarification on matters relating to personal tax obligations and the application of various categories of taxes.
The discussions highlighted the need for ongoing dialogue between PI’s, Accounting and Audit staff and project administrators. The Director of Internal Audit indicated that the forum would be followed up with additional sessions to cover other areas of tax administration as it relates to grants.
The Director of Finance acceded to a request to develop guidelines for the financial administration of grants and management of donor funds in collaboration with ORID, and the Audit Directorate.
The Pro Vice Chancellor indicated that the management of grants was spread across all Colleges of the University and ORID managed a portion of the overall grant portfolio. He stressed the need for uniformity in the administration of grants in line with the University’s policies and thanked the presenters and participants for engaging in a productive forum.