Prime News Ghana

We will meet our revenue target - GRA assures 

By Justice Kofi Bimpeh
Ammishaddai Owusu-Amoah
Ammishaddai Owusu-Amoah
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The Ghana Revenue Authority, GRA has assured Ghanaians that they will meet their revenue target for the year.

According to GRA, they have already met their revenue target for August in line with the reviewed target in the mid-year budget review.

The country has realised about 26 billion cedis domestic tax collections at the end of August.

This is above the mid-year review target set by the Finance Minister. 

Acting Commissioner of GRA Ammishaddai Owusu-Amoah said the overall target of more than 42 billion cedis will be achieved.

"... as at the mid-year, the target was review downwards to 42.7 billion cedis. At the end of August, GRA has collected 26.7 billion cedis and when you compare the 26.7 billion cedis base on the mid-year review, I must say that we are above the mid-year review target as at end of August. I can assure you that we will meet the mid-year review target but we are aiming to go beyond the target..."

He also explained that much of the revenue came from the Mining and Telecom sector.

"...whatever mineral royalties that had to be paid are coming through, because of the increase in price from 1500 to almost 2,000 dollars there is an increase in revenue both from the Corporate Income Tax from the mining sector as well as from the royalties..."

Due to the impact of the Coronavirus government had to review the revenue target of most of the sectors.

But the GRA believes that despite the pandemic they will be able to meet their reviewed target and probably exceed it.