GRA exceeded mid-year revenue target by 0.2%, says Amin-Adam

The Finance Minister, Mohammed Amin-Adam, has said that the Ghana Revenue Authority (GRA) exceeded its midyear target by 0.2%.

According to him, “whilst not all the measures were implemented in the first half of  the year, through enhanced compliance and enforcement, the Ghana Revenue  Authority (GRA) exceeded its mid-year target by 0.2%.”

Presenting the Mid-Year Budget Review in Parliament on Tuesday, (23 July), the Karaga MP said that, non-tax  revenue (NTR) performance as at the end of June exceeded the target by 14.0%.

“In line with its commitment to ensuring full disclosure of retained  internal generated funds by public institutions, Government has deployed the Ghana.Gov Platform to over 1,500 public institutions and also rolled out the Ghana Integrated Financial Management Information System (GIFMIS) to 287 IGF-reliant  public institutions.”

“As at the end of June, 140 public institutions including GRA, had gone live and received payments through the Platform, totalling GHC56.4 billion, an  increase of 34.6% compared to the same period last year.”

“For the rest of the year, the Ministry of Finance will deepen  engagements with both GRA and relevant stakeholders to effectively implement policy,  administrative and regulatory measures to ensure that the revenue targets are met.

Broadening the tax base

According to the minister to broaden the tax base, a simplified digital solution for the operationalisation of the modified taxation scheme will be deployed, as well as an electronic bookkeeping system.

“Additionally, 2000 more taxpayers will be on-boarded onto the electronic invoicing system (e-VAT) by the close of the year.”

“GRA will also continue with the cleaning of the taxpayer register and on-board  more taxpayers onto its electronic systems to improve the taxpayer experience and  compliance.”

“In addition, GRA will continue to enhance data sharing with other tax jurisdictions to boost revenue mobilisation.