GRA targets GHS60 billion as 2021 revenue

Commissioner-General of the GhanaRevenueAuthority (GRA), Rev. Ammishaddai Owusu-Amoah, has announced an GHS60 billion as the Authority’s revenue target for 2021.

He revealed this while speaking with the media at a press conference in Accra.

This promise comes after the authority exceeded exceeded its 42.7 billion Ghana Cedi tax revenue target for 2020 by 2.6 billion after a revision of the earlier target to 42.7 billion Ghana Cedi from 47.25 billion Ghana Cedi due to the impact of COVID-19.

According to Rev. Ammishaddai Owusu-Amoah,    alhough the amount seems huge, the Authority has put in place  strategies to ensure that it meets the target despite the outbreak of Covid-19.

He explained that the Authority initially had a budget from the Ministry of Finance of 47.25 billion for the 2020 fiscal year which represented an increase of 7.6 percent.

“We are not stopping there, whiles we are waiting for the Minister of Finance to tell us the overall budget that we have to collect for 2021, we have set for ourselves an aggressive target of collecting 60 billion in 2021. This represents about 32 percent year-on-year increase if we compare to the 45 million that we collected this year. Definitely, this is an ambitious target, but we have underlying strategies and programs to ensure that we will be able to get to this target”.

“This represented a 6.2 percent negative growth. In order words, if you compare the 42.7 to the previous year then it means that we are going to collect less taxes in 2020.  But despite the challenges of COVID-19, the GRA was able to exceed the revised target. This means that we exceeded the revised target by 2.6 billion which is more or less about 6% above the target,” he added

Ghana | Atinkaonline.com | Vivian Adu Boatemaa

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