- The GRA exceeded its 2015 target by a whooping GHC 620m
- According to the GRA it hopes to meet the 2016 target of 27.6 billion cedis.
- However in 2016, Ghana lost GHC 1.6b to tax exemptions.
The Ghana Revenue Authority (GRA) has stated that it exceeded its 2015 revenue target by GHC 620m. The Authority last year exceeded its revenue target of Gh¢21.57 billion by collecting 22.17 billion cedis.
According to the Commissioner General of the GRA George Blankson the success was chalked by the implementation of the single Window Unit system introduced at the port in September last year as well as strategies devised by the Authority.
Mr. Blankson also assured the public that his outfit will spur on to exceed this year’s targetof 27.6 billion cedis.
“The Excise Tax Stamp (ETS) system shall will be enforced rigorously from this year,” the GRA boss noted.
Touching on the Ecowas Common External Tarrif, Mr Blankson said those opposing the implementation of the tarrif are businesses that feel they are not been favored by the implementation of the tarrif.
In 2015 however, government lost GHC 1.6 billion in tax exemptions. The value of import exemptions for the first nine months of 2015 exceeded what the government has budgeted for the period by more than a billion Ghana cedis.Provisional figures from the Finance Ministry show that as at the end of September 2015 the value of import exemptions had ballooned to Ȼ1.6 billion.