GRA Mobilizes GHS 68bn Tax Revenue In H1 2024, Exceeds Target By GHS 138.6 million

The Ghana Revenue Authority (GRA) has announced that it exceeded its mid-year revenue target for 2024.

As of 30 June 2024, the GRA had collected GHC68.49 billion, surpassing its target of GHC67.9 billion.

At a media briefing in Accra, the Commissioner- General of GRA, Ms Julie Essiam lauded the Authority’s performance amid challenges.

“With the commitment of our outstanding staff, I’m happy to announce that as of June this year, the GRA collected a total of GHC68.49 billion against a half-year budget of GHC67.9 billion, thereby exceeding the cumulative mid-year target by GH¢138.6 million, which represents a 0.2% increase,” Ms Essiam announced.

“This achievement represents a nominal growth of 37.6% over the same period last year.

Specifically, for the month of June, the devoted staff of GRA outperformed and exceeded the revenue target by an exceptional 21.2% – a significant increase in a single month,” Commissioner-General Essiam announced.

She detailed the monthly performance, highlighting the initial challenges in meeting the targets in the first three months to March.

However, there was a turnaround from April, culminating a recovery began in April in the remarkable 21.2% in June.

Ms Essiam said  very much aware of the impact of an election year and the headwinds that trend such a period, the leadership team designed and agreed a very focused 90-day plan to ensure and be strategically deliberate in turning the tide of a negative first quarter.

“First, actualizing very specific key revenue

measures, focusing on staff welfare, changing the face of the GRA by moving from an enforcement approach to a very more collaborative approach,” she said.

Stakeholder engagement as well by focusing really on our key stakeholder, taxpayers, as partners.

A key component of the 90-day plan on revenue was the rollout of our flagship electronic VAT invoicing system, which was successfully transitioned into the first phase registration of the top 600 taxpayers, accounting for 80% of VAT contributions.

“We are happy to report that we exceeded the target of 600 and onboarded 614 taxpayers as of June 30th, and we congratulate the DTRD team,” she said.

She said the VAT initiative was a very important revenue enabler, as it would potentially ensure real-time data on taxpayers, in particular retailers, adding that the strong momentum will keep us on track to migrate about additional 4,000 taxpayers. GNA