September 23, 2020

GRA optimistic of meeting GHS42.7 billion target despite missing half-year target

Acting Commissioner General of the Ghana Revenue Authority, GRA, Amishaddai Owusu Amoah, has revealed it is implementing effective and efficient strategies and systems in order to exceed the revised tax revenue target set by government in the 2020 mid-year budget.

This comes after it missed its half-year target by 6.9%.

It will be recalled that the government revised downwards the tax revenue target from GHS 47.2 to GHS 42.7 billion in the 2020 mid-year budget, due the impact of COVID-19.

Speaking at a press briefing in Accra, Rev. Amishaddai Owusu Amoah, said that the overall target of more than GHS42 billion will be achieved, despite the outbreak of the Coronavirus pandemic.

“As an authority, we cannot continue to do business as usual. We are determined as an organisation to collectively put our shoulders to the wheel as we roll out some of the policies to achieve our ‘challenge’ target of GHS55 billion in these ‘not normal times,” he said.

He also stated that the sectors that saw significant growth over the period were mining, telecommunications and financial.

“Whatever minerals or royalty that has to be paid, is continually coming through and I must say that because there has been increase in the price of gold, from $1,500 to almost $2000, there is an increase in revenue from both the corporate income tax from the mining sector as well as the royalties,” he added.
The total tax revenue for the half-year of 2020 was GHS 19.95 billion, as against a target of GHS 21.42 billion, representing a negative deviation of 6.9 per cent.

For the period, domestic tax collected was GHS15.39 billion, exceeding a budgeted target of GHS14.77 billion, while the Customs Division of the Ghana Revenue Authority (GRA) collected GHS4.55 billion, out of the GHS6.65 billion target.

Restructuring exercise

He said the Domestic Tax Revenue Division (DTRD) of the authority had commenced the first phase of a nationwide restructuring exercise in Accra and Kumasi last August to implement some of the feedback it had received from taxpayers on improving service delivery.

“Now taxpayers will be able to file returns at the nearest taxpayer service centres (TSCs), irrespective of turnover. This will create convenience for taxpayers and free them to use their time for other productive ventures. The aim is to establish offices not on the basis of turnovers, as it was previously, but rather with respect to jurisdiction.

“At the TSCs, taxpayers can file returns, make payments, register for tax identification numbers (TIN) and tax types, make complaints, enquiries and receive tax education,” he added.

Source: Business