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The
Ghana
Revenue
Authority
(GRA)
has
announced
it
surpassed
its
mid-year
revenue
collection
target,
despite
facing
challenges
in
the
first
quarter
of
2024.
The
GRA
was
tasked
with
collecting
145,992.38
billion
Cedis
for
the
year.
The
authority
however
achieved
a
half-year
total
of
68,049.33
billion
Cedis.
This
represents
a
0.2
percent
increase
over
the
targeted
amount
for
the
period.
Following
a
slow
start
with
shortfalls
in
January,
February,
and
March,
the
Authority
credits
its
turnaround
to
a
focused
90-day
plan
implemented
by
the
new
leadership
team
in
April.
The
plan
addressed
key
areas
like
revenue
measures,
staff
well-being,
a
shift
to
a
more
collaborative
approach
with
taxpayers
and
stakeholder
engagement.
The
plan
included
initiatives
like:
Electronic
VAT
Invoicing
System:
This
was
launched
in
April.
The
system
successfully
registered
over
600
top
taxpayers,
accounting
for
80
percent
of
VAT
contributions.
This
initiative
promises
real-time
data
collection
and
is
expected
to
streamline
the
VAT
regime.
Special
Voluntary
Disclosure
Programme:
This
program
encourages
residents
to
disclose
previously
undisclosed
foreign
income.
Ghana’s
participation
in
an
Organisation
for
Economic
Co-operation
and
Development
(OECD).
information-sharing
program
strengthens
this
initiative.
Upfront
Payment
of
VAT
Initiative:
This
program
helps
capture
previously
unregistered
businesses
by
requiring
VAT
registration
for
those
importing
taxable
goods
in
commercial
quantities.
Over
176,000
new
taxpayers
were
registered
under
this
initiative.
Shifting
Approach
and
Stakeholder
Engagement
The
GRA
acknowledges
a
shift
from
an
enforcement-centered
approach
to
a
collaborative
partnership
model.
This
includes
planned
training
programmes
for
customer
service
and
taxpayer
education
initiatives.
A
partnership
with
the
Methodist
Church
aims
to
leverage
religious
teachings
to
promote
tax
compliance.
They
pledged
continued
engagement
with
all
stakeholders
to
ensure
effective
resource
mobilization
for
Ghana’s
economic
development.
Looking
Ahead
The
Authority
is
optimistic
about
its
future
revenue
mobilization.
“The
GRA
remains
committed
to
achieving
the
full-year
target
of
146
billion
Cedis
and
a
20
percent
Tax-to-GDP
ratio
by
2027.
The
Authority
emphasises
its
focus
on
administrative
and
legal
reforms
to
broaden
the
tax
base,
minimise
tax
avoidance,
and
ensure
a
fair
system”,
according
to
Commissioner-General,
Julie
Essiam.
By
Eben
Agyekum-Boateng,
3Business