The Ghana Revenue Authority (GRA) has surpassed its mid-year revenue target by 0.2% this year.
The Finance Minister, Dr. Mohammed Amin Adam, announced this during the 2024 Mid-Year Budget Review in Parliament on Tuesday, July 23.
Dr Adam emphasized the government’s efforts to amend existing legislation to implement new revenue measures aimed at broadening the tax base and enhancing tax compliance.
“In the 2024 Budget, the government amended existing legislation to implement these revenue measures. These measures also aim to broaden the tax base and improve tax compliance for a more equitable and efficient revenue system,” he stated.
Despite not all measures being implemented in the first half of the year, the Minister highlighted that GRA’s enhanced compliance and enforcement strategies were pivotal in exceeding the mid-year target.
“Mr. Speaker, while not all the measures were implemented in the first half of the year, through enhanced compliance and enforcement, the Ghana Revenue Authority (GRA) exceeded its mid-year target by 0.2%,” Dr. Adam noted.
He added that, the GRA’s Non-Tax Revenue (NTR) also performed exceptionally well, surpassing the target by 14.0% as of the end of June.