In 2017, the Ghana Revenue Authority (GRA) collected GH¢ 32,313.37, out of GH¢33, 434.20, registering a shortfall of GH¢1, 120.83, representing a negative deviation of 3.4 per cent while revenue collection in terms of the US dollar rose to  US $7.6 billion.


For the year 2018, the tax revenue target of the GRA is GH¢ 39.8 billion.


According to Mr Emmanuel Kofi Nti, Commissioner-General of the GRA, the target for 2018 over the provisional collection for 2017 anticipated a growth of 23.26% over the 2017 collection figures.


Addressing the media in Accra on Friday, the Commissioner-General disclosed that third Strategic Plan of the GRA was being developed while implementation of the Electronic Points of Sale device and the Excise Tax Stamp policies would begin this year.


Implementation of these policies, he said, were expected to increase tax revenues, reduce the incidence of Value-Added Tax (VAT) and excise duty suppression and the monitoring of sales, among others.


He announced that the VAT Amendment Act, 2017 (Act 954) which would require Withholding Agents to be appointed by the Commissioner-General to withhold payment to a VAT registered (or registrable) supplier of 7 per cent of the taxable value of the supply and remit same directly to the Commissioner-General.


Furthermore, Mr Nti said, GRA would also roll out a total Revenue Integrated Processing System to the remaining 10 Domestic Tax Revenue Division offices during the first quarter of the year.


Mr Nti explained that all the interventions were not new taxes, but compliance measures to ensure that VAT and NHIL due to government were paid.


On tax incentives, he said tax holidays would be granted to entrepreneurs aged 35 and below who started their businesses in certain specified areas, adding that the personal or individual income tax thresholds had been pegged to the current minimum wage to protect low income earners.


He disclosed that there were plans to introduce Voluntary Disclosure Procedures in the Revenue Administration Act, 2016 (Act 915) to waive penalty on voluntary disclosures and the payment of unreported and understated taxes by tax payers.


In addition, he said, Parliament had passed the Tax Amnesty Act to exempt taxpayers who registered and filed returns within a stated period from paying penalties and interests for late or non- submission of returns and late payments.


Mr Nti  said cognizant of the fact that a well-motivated staff would be required to ensure the success of GRA’s work, emphasis would be placed o the training of staff while infrastructure would be improved to provide a conducive working environment for staff.


He commended the media for its support for the national tax campaign and urged it to continue to ensure that the required awareness was created and for attitudes to change so that income earners would voluntarily honour their tax obligations.


Source: ISD (G.D. Zaney)

Created: 22 January 2018
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