GRA to collect more than 27 billion cedis this year

The Ghana Revenue Authority (GRA) is to collect GH? 27.56 billion in revenue for the national kitty for 2016.

Domestic Direct Revenue is expected to bring in GH? 11.513 billion, Domestic Indirect Revenue bringing GH? 5.916 billion, while GH? 10.159 billion is expected in Customs Revenue.

Mr George Blankson, the Commissioner-General of GRA, speaking at a Press Soiree, in Accra, said the Authority exceeded its tax mobilisation target of GH? 21.57 billion for 2015.

The event was to interact with the media and also deepen the relationship, which exists between the two institutions.

He said GRA considered the media as a true partner in the job of revenue mobilisation and the development of the country.

“You have been instrumental in ensuring that the activities of the Authority are heard throughout the country,” he explained.

Mr Blankson said in spite of the challenges in the economy last year, the Authority collected GH? 22. 17 billion, given a positive deviation of GH? 620 million.

He said the 2015 revenue mobilisation performance showed a growth of GH? 5.014 billion, representing 29.3 per cent over the previous year’s.

The Commissioner-General said the main reasons accounting for the achievement of the target were the strategies adopted by the Management.

He said to further improve the Administration of Excise Tax, the GRA would in the course of the year begin the implementation of the affixing of the Excise Tax Stamp on excisable products for both locally manufactured and imported goods.

On the Common External Tariff, the Commissioner-General said, it would become operational in Ghana from this month and it was expected to bring the country in harmony with other ECOWAS countries in the imposition of tariff.

He said as part of the reforms in the Tax Administration, the GRA had been engaged over the years to review the various tax laws to conform to the international best practices, making them less complex, easy to understand and user friendly.

“As a result of this, the Value Added Tax Act and the Excise Tax Act had already been passed and last year the Customs Act 2015 (Act 891) and the Income Tax Act 2015 (Act 896) were also passed,” he added.