Business News of Tuesday, 14 March 2023

Source: www.ghanaweb.com

Don't be jubilating - GRA boss told on exceeding revenue target

GRA boss, Ammishaddai Owusu-Amoah GRA boss, Ammishaddai Owusu-Amoah

Divine Nkrumah, a member of the Progressive People’s Party (PPP), has cautioned the Ghana Revenue Authority (GRA) not to get too excited about exceeding their target for the first two months of 2023 and collecting 13.3 billion.

To him, given the state of our economy and the challenges we face, we should not be celebrating.

Rev. Dr. Ammishaddai Owusu-Amoah, Commissioner General of the Ghana Revenue Authority (GRA), has revealed that the authority collected 13.3 billion in taxes in the first two months of 2023.

The amount represents a 5% increase over the projected 12.6 billion, according to the GRA boss.

He stated this recently in an interview with Joy News.

But, according to Divine Nkrumah, this is not something that should be celebrated.

He believes that when the economy is on the verge of collapsing and revenue is increasing, we should not rejoice.

He stated that taxation must have a direct relationship with the economy.

"When the economy is crashing and tax revenue is increasing, we cannot and should not be jubilating. Tax is a function of the economy, there should be a direct relationship between them. Victims we are and will be if the tax net has not really been expanded and tax revenues is increasing. God have mercy,” he said.