Business News of Monday, 12 February 2024

Source: thebftonline.com

GRA's Domestic Tax Division collected GH¢82 billion in 2023

Ghana Revenue Authority (GRA) Ghana Revenue Authority (GRA)

The Domestic Tax Revenue Division (DTRD) of the Ghana Revenue Authority (GRA) contributed GH¢82.295billion to tax revenue in 2023 as compared to GH¢53.444billion in 2022.

In all, the GRA mobilised a total of GH113.06billion for the 2023 fiscal year. The DTRD’s contribution was 7.2 percent more than it set out to achieve.

In 2024, the DTRD has set a target to collect GH¢111billion, out of a total GH¢170billion revenue target for the year.

The Commissioner-DTRD, GRA, Edward Apenteng Gyamerah, revealed this at DTRD’s 2024 management retreat held in Takoradi. It was themed ‘Tax Transparency and Certainty: The GRA Way’.

The retreat explored creative ways of mobilising revenue to support development, discussed 2023 revenue performances, and mapped out strategies on how to consolidate DTRD’s role in domestic revenue mobilisation.

Mr. Gyamerah pointed out that the division’s performance is consistent with the prevailing economic indicators, especially the estimated gross domestic revenue (GDP) growth of 1.7 percent in 2023.

“During the financial year, DTRD also recorded a milestone revenue collection which more than doubled in the last four years – from GH¢31.871billion in 2019 to GH¢82.95billion, representing a growth of 180% in the last four years,” he mentioned.

He ascribed DTRD’s performance in 2023 to initiatives implemented that expanded the tax base.

He said the DTRD was able to rope-in more taxpayers due to newly implemented policies; including e-VAT, Gaming and Betting Tax and Voluntary Tax Disclosure and Upfront VAT.

“Other strategies included DTRD business process technological interventions and collaboration with key public and private institutions, to drive revenue mobilisation through data-led compliance management frameworks,” he added.

According to him, DTRD also entrenched a performance management culture that enhanced staff’s accountability and productivity, thus driving the strong revenue performance. The performance management culture, he explained, motivates staff to work hard on achieving their individual targets.

For 2024, he said, the division intends to begin implementing modified taxation, and also launch a Voluntary Disclosure programme that allows resident persons with income abroad to disclose their earnings without penalties.

Mr. Gyamerah added: “We remain committed to facilitating voluntary tax compliance through measures such as new technologies and introducing tax policies that support this very cause. On our part as management, we commit to continue putting in place strategic measures and initiatives that facilitate tax compliance”.

He encouraged GRA staff to maintain the same commitment and dedication throughout 2024.

“The DTRD could not have achieved this milestone without your dedication and commitment. You remained true to the call despite the challenges we faced as a group. Be guided by our common vision of being a world-class revenue administration, recognised for professionalism, integrity and excellence. I am confident that we will continue with this momentum in 2024. I look forward to working with all of you in this new financial year,” he concluded.