A CORRUPTION Watch (CW) investigations captured on the front page of today’s edition reveal a worrying development of huge revenue losses at the country’s ports.
The report said the government has virtually lost a whopping GHc102, 997,447.60 in unpaid taxes as Market Direct Limited, a bonded warehouse that failed to pay the amount had folded up and its assets liquidated.
According to the CW investigations, the Ghana Revenue Authority led by Commissioner General Emmanuel Kofi Nti is aware of the current state of Direct Market and is actively taking action to recover the money to the state.
Another bonded warehouse, Venees Food Products, also evaded tax and duties to the tune of GHc879, 220.65.
The report comes at time when the GRA is said to have missed its revenue target for the first eight months of the year- between January 2018 and August 2018.
The GRA fell short of its target by 1.8 billion Cedis.
This led to the Authority engaging the services of consultancy firm, McKinsey, to help block revenue leakages that persist in its revenue collection.
The Commissioner General at an engagement meeting with the media outlined the performance of the Authority between January and August this year. He said the overall underperformance required that new strategies must be adopted to address the failure to achieve the target.
The target was 24.46 billion Cedis but GRA had collected 22.66 billion Cedis; indicating that the Authority had registered a deficit of 1.8 billion Cedis or -7.4 percent.
As at August 2018, Customs had registered a negative deviation of 1.7 billion Cedis, while the Domestic Tax Revenue Division had an overall negative deviation of 83.8 million Cedis or -0.6percent.
This is clearly no good news for the country. The DAILY HERITAGE therefore urges the GRA to up its game and block all loopholes, recover all loss revenue and punish resident customs officers who fail to do their work well leading to such huge revenue losses.