{"id":59337,"date":"2023-04-19T13:51:45","date_gmt":"2023-04-19T13:51:45","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/04\/19\/gra-will-not-generate-needed-revenue-from-the-new-taxes\/"},"modified":"2023-04-19T13:51:45","modified_gmt":"2023-04-19T13:51:45","slug":"gra-will-not-generate-needed-revenue-from-the-new-taxes","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/04\/19\/gra-will-not-generate-needed-revenue-from-the-new-taxes\/","title":{"rendered":"GRA will not generate needed revenue from the new taxes"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaki Awingobit has expressed doubt that the Ghana Revenue Authority (GRA) would be able to generate the anticipated revenue from the newly introduced taxes.<\/p>\n<p>The financial bills seek to raise about 4 billion Ghana Cedis annually as part of domestic revenue mobilisation.<\/p>\n<p>President Nana Addo Dankwa Akufo-Addo has signed the three new taxes into law, despite stiff resistance from the business community.<\/p>\n<p>This move has resulted in a backlash from the business community, who are accusing the president of being insensitive to the plight of the business community.<\/p>\n<p>According to Mr. Awingobit, businesses are currently unable to fulfil their tax obligations, so the GRA should not expect to receive even half of the expected revenue.<\/p>\n<p>\u201cA number of companies are folding up and moving to other countries because the environment here is not conducive. We have a tax policy sharper than a butcher knife in this country.\u201d<\/p>\n<p>\u201cI can say on authority that GRA will not generate the needed revenue from these taxes. If businesses do not make profits, where exactly will they get the taxes? I know a company which plans on moving to Ivory Coast next year. There is so much smuggling going on in this country.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaki Awingobit has expressed doubt that the Ghana Revenue Authority (GRA) would be able to generate the anticipated revenue from the newly introduced taxes. The financial bills seek to raise about 4 billion Ghana Cedis annually as part of domestic revenue mobilisation. President [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-59337","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GRA will not generate needed revenue from the new taxes - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/04\/19\/gra-will-not-generate-needed-revenue-from-the-new-taxes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GRA will not generate needed revenue from the new taxes - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaki Awingobit has expressed doubt that the Ghana Revenue Authority (GRA) would be able to generate the anticipated revenue from the newly introduced taxes. The financial bills seek to raise about 4 billion Ghana Cedis annually as part of domestic revenue mobilisation. 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