Ghana Revenue Authority outperforms June collection to exceed mid-year target

The Ghana Revenue Authority has reported a significant revenue performance in the month of June, supporting its total revenue collection for the first half of this year.

The single-month performance has overtaken the previous losses the Authority recorded in the first three months of the year due to uncertainty in the business community.

Addressing journalists during a media briefing in Accra, Commissioner-General of the Ghana Revenue Authority, Julie Essiam, attributed the performance to certain transformations undertaken by the GRA, including changing its enforcement approach to a more collaborative one, among others.

In 2024, the GRA was tasked to collect GH¢145,992.38 billion, representing a 29.1% growth over the GH¢113,066.43 billion collected in the 2023 fiscal year.

“With the commitment of the outstanding staff of this Authority, I am happy to announce that, as of June this year, the GRA had collected a total of GH¢68,049.33 billion against a half-year budget of GH¢67,910.65 billion, exceeding the cumulative mid-year target by GH¢138.69 million, which represents a 0.2% increase; therefore exceeding the mid-year budget by 0.2%," the GRA boss said.

She continued, "This achievement represents a nominal growth of 37.6% over the same period last year. Specifically, for the month of June, the devoted staff of GRA outperformed and exceeded the revenue target by an exceptional 21.2% – a significant increase in a single month."

"All of this was achieved against the headwinds of a very difficult first quarter, and this, ladies and gentlemen, is a testament to the commitment, resilience, and overall dedication of the staff of GRA,” Commissioner-General Julie Essiam told the media.

To break down the details of the performance to date, Ms. Essiam said, “In January, we fell below target by 12.3%. February also showed a shortfall of 6.3%. March suffered a similar trend with an increased negative deviation of 12.7%."

"We started to rebound in April and exceeded the target by 1.9% that month, then exceeded it again in May by 1.4%; and subsequently achieved a significant increase of 21.2% in June. As we can see, the outstanding performance in June supported the turnaround to help achieve a positive half-year performance of 0.2% of the total half-year target,” she explained.

The Commissioner-General commended the business community and all stakeholders for their support and urged for more commitment to end the year on a positive note.

MA/NOQ