Business News of Wednesday, 21 November 2018
Ghana Revenue Authority (GRA) has begun reform works to improve revenue collection by the facility.
In the 2019 budget, the Finance Minister announced that the GRA will go through some reforms to ensure the authority works effectively.
For several years, the GRA has failed to meet revenue targets.
In 2017, the GRA collected GH¢32.4billion as against a target of about GH¢ 34billion.
The GRA was supposed to raise 34 billion cedis as revenue to government for the various development projects but it was 12 percent short from meeting its target last year.
This year, the authority has been tasked to raise some 58.9 billion cedis.
Some analysts are doubting if the authority can achieve this due to government’s failure to broaden the tax net.
Speaking to Citi News monitored by Prime News Ghana after a workshop organized by Trust Consult for officials who manage funds in the public sector, Senior Minister, Yaw Osafo Marfo said the reforms have already started.
According to him, consultants are already assessing the structure of the authority to make the necessary recommendations to the government.
He said, “It is something that is ongoing”.
He explained further that “the authority is not able to meet its targets, and it is because of loopholes and because the net is not wide enough, because of corruption. Is it at the harbour, is it at the airport or personal income taxes? All this must be studied.”
The two-day workshop brought together accounts and financial officers in government institutions including the National Lotteries Authority, State Insurance Company, and Ghana Post.
The Senior Minister charged the officials to protect the public purse in expending public funds.