Monday , December 17 2018
Home / Business / GRA targets GH¢39.8 billion in 2018

GRA targets GH¢39.8 billion in 2018


THE GHANA Revenue Authority (GRA) has targeted GH¢39.8 billion as total tax revenue to be collected this year.

The target, the authority explained, indicates a 23.26% growth over the 2017 collection figure.

Addressing the press in Accra, the Mr Emmanuel Kofi Nti, Commissioner General, GRA, said the Authority failed to achieve their revenue collection target of GH¢ 33,434.20 billion as it registered a shortfall of GH¢ 1,120.83 million, representing a negative deviation of 3.4%.

“When I assumed office last year, during my first encounter with staff, I raised the point that our collection in terms of the US Dollar was stagnant in the region of $6.8-6.9 billion. For 2017, our collection rose to $7.6 billion, thus, a break from the trend,” he said.

Explaining some reasons for his outfit’s performance last year, Mr Nti said their revenue target for the Value Added Tax (VAT) fell short by GH¢ 323.53 million.

“The implementation of the Electronic Point of Sales Device project which was expected to have commenced in the course of the year to help improve collection of VAT could, however, not start,” he added.

He added that the introduction of some policies during the past year contributed significantly to their performance.

The policies, he outlined, were the Paperless System at the ports, the Total Revenue Intergrated Processing System (TRIPS), and the National Tax Campaign.

Touching on the strategies for this year, Mr Nti said the authority would roll out TRIPS in the remaining 10 domestic tax division offices during the first quarter of the year.

“We will also improve on the infrastructure of the Authority by ensuring that officers are working in a conducive environment, especially offices outside the regional capitals,” he told the press.


About michael adjei

Check Also

Akufo-Addo saved ATL from shutting down – Alan

THE MINISTER for Trade and Industry, Alan Kwadwo Kyerematen, says contrary to claims by some …

Leave a Reply

Your email address will not be published.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