The Ghana Revenue Authority (GRA) has announced that it exceeded its mid-year revenue collection target, despite encountering challenges in early 2024.

Initially tasked with collecting 145.99 billion Cedis for the year, the authority managed to secure 68.05 billion Cedis by mid-year, marking a 0.2% increase over the targeted amount.

Facing shortfalls in the first quarter, the GRA credits its turnaround to a focused 90-day plan implemented by new leadership in April.

This strategy addressed revenue measures, staff welfare, and fostered a more collaborative approach with taxpayers and stakeholders.

Key initiatives included:

Launching the Electronic VAT Invoicing System in April, which registered over 600 top taxpayers and promises real-time data collection for VAT contributions.Introducing the Special Voluntary Disclosure Programme to encourage disclosure of undisclosed foreign income, bolstered by OECD information-sharing.Implementing the Upfront Payment of VAT Initiative to register over 176,000 new taxpayers by requiring VAT registration for importers of taxable goods.The GRA shifted from an enforcement-centered to a collaborative partnership model, enhancing customer service and taxpayer education through planned training programs. Collaborations with stakeholders, such as the Methodist Church, aim to leverage community ties for promoting tax compliance.

Looking ahead, Commissioner-General Julie Essiam affirmed GRA's commitment to achieving the full-year revenue target and a 20% Tax-to-GDP ratio by 2027. Administrative and legal reforms are prioritized to expand the tax base, curb tax avoidance, and ensure equity in the tax system.