Home / Business / Hot Audio: Massive Shake to hit GRA due to shortfalls in revenue targets-Minister

Hot Audio: Massive Shake to hit GRA due to shortfalls in revenue targets-Minister

Deputy Minister of Finance, Kweku Kwarteng, has disclosed that, a massive shake-up and reforms will soon happen at the Ghana Revenue Authority (GRA) due to the inability of the authority to meet its revenue targets for 2018.

The Deputy Minister speaking at a ceremony organised by the GRA on Friday 22, March 2019, to reward tax complaint companies and individuals, indicated that, government recorded a shortfall of GHc2.2 billion from the Customs Division.

The underperformance he added was mitigated by performance of domestic revenue.

The Minister said, the continuous underperformance of the Customs Division with relation to CIF volumes, has been most disturbing.
He said, domestic revenue has been meeting targets but there was evidence to show that, we could have achieved more.

In response to these realities, government has communicated its intention to carry out reform and institutional changes at GRA and these changes will have soon, he stressed.

The Deputy Minister reiterated government’s plan to deploy all available tools in law, to ensure that the tax burden is evenly spread across all businesses and economic actors.

GRA missed its 2018 revenue target of GH₵39,802.27 billion by GH₵2171.73 or -5.5 percent.

The authority planned to collect GH₵23,588.41 billion in domestic taxes, but recorded GH₵24,438.75, an excess of GH₵850.35 million or 3.5 percent.

The Customs Division was also given a target GH₵16,213.86 billion but it realised GH₵13,191.07 billion, a deviation of GH₵3,022.07 billion or -18.6 percent.

From the national budget, GRA has been tasked to meet a tax revenue target of GH₵45,447.26 billion for this year.


About inhimisliferadio

Check Also

Data Safe and No Loss of Cash or Cheque- GRA

Data is safe and no loss of cash or cheques have been recorded after a …

Leave a Reply

Your email address will not be published. Required fields are marked *