GRA set to meet 2017 revenue target
The Ghana Revenue Authority (GRA) has said it is focused on meeting its tax revenue target of GH¢34 billion for 2017.
Advertisement
“This calls for hard work on the part of all staff,” the Commissioner General of the GRA, Mr Kofi Nti, said at a media soiree in Accra.
He said the abolition and reduction of a number of taxes announced by the Minister of Finance, Mr Ken Ofori-Atta, in the 2017 budget statement “have thrown a big challenge to the GRA to meet the gap that will be created”.
Mr Nti mentioned that the authority was hopeful of meeting the new target, explaining that a number of revenue enhancement measures would be rolled out to bring the untaxed segment of the population on board.
He said the measures, which would target especially operators in the informal sector, would also ensure that those already in the tax net complied with the tax laws.
Measures
He added that the GRA would increase the number of tax audits, increase external visits and inspection of taxpayers’ businesses to retrieve outstanding taxes and undertake regular engagement with taxpayers and stakeholders to increase voluntary compliance.
The authority, he stated, would also impose and collect the required penalties during tax audits and embark on vigorous monitoring of holders of mining leases to ensure the prompt payment of mineral royalties.
Additionally, Mr Nti said, the GRA would motivate its staff in the areas of capacity building and the provision of resources.
Previous target
In 2016, the GRA was charged to collect GH¢29 billion but it was able to collect GH¢27 billion, recording a shortfall of GH¢1.2 billion.
“Even though the 2016 target was not achieved, the revenue performance represents nominal growth and real growth rates of 25.4 per cent and 6.6 per cent, respectively, over the 2015 collection,” he said.
Mr Nti said some of the factors which accounted for the shortfall in revenue mobilisation included low income tax in the form of pay as you earn (PAYE), the downward revision of corporate taxes by some top taxpayers, among others.