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Business News of Tuesday, 30 January 2018

Source: ghananewsagency.org

Overall tax processed through tripsTM system in 2017 hits GHC15.7bn

The component of domestic tax collection mobilised and processed through GCNet’s Total Revenue Integrated Processing System (tripsTM) in 2017 hit GH¢16 billion, representing a 32 per cent increase over the same period in 2016.

There has been a sustained increase in the component of domestic tax collection processed through tripsTM over the past four years, from GH¢3 billion that was recorded in 2014, to almost GH¢9 billion in 2015 and to almost GH¢12 billion in 2016, a statement from GCNEet copied to GNA said.

The increase in tax collection through tripsTM has been achieved with the further deployment of more than 45 new offices by the Ghana Revenue Authority (GRA) in 2017, bringing the total number of Live Offices now using tripsTM to 59.

The (tripsTM) is software for tax administration under the e-Government project headed by the Ministry of Communication under the auspices of the Ministry of Finance.

TripsTM seeks to streamline and bring transparency to the business operations of the GRA Domestic Tax Revenue Division (DTRD).

The highest monthly collection of GH¢2.6 billion was recorded in December 2017, followed by the second highest of GH¢1.7 billion in Sept 2017.

During the same period in 2016, GH¢1.5 billion and GH¢1.1 were mobilised respectively.

Data available also indicate that monthly collection was over the one billion Ghana cedis threshold in ten months of the year with February and May being slightly lower.

The operationalisation of 59 out of 69 tax offices represents a nationwide presence, which has facilitated enhanced coverage in terms of the tax net, enabling greater revenue mobilisation.

The nationwide roll-out is a landmark achievement for the GRA and the country marking the first time that Ghana has had a nationwide computerised tax system.

The expanded roll out of tripsTM, across all offices of the Domestic Tax Revenue Division of the Ghana Revenue Authority nationwide, will enhance revenue mobilisation efforts in 2018, helping to meet national development needs.

The deployment of tripsTM is part of the bigger e-Government solution developed and deployed concurrently for the Ghana Revenue Authority and the Registrar General’s Department in 2011 by Ghana Community Network Services Limited (GCNet), with a self-service portal that provides online services to Citizens.

The system supports a full range of tax Administration functions including: Registration, Returns Processing, Automated Compliance, Collections, Taxpayer Accounting, Revenue Accounting, Refunds, Risk Management, Case Management, Audit, Objections and Appeals.