Total tax revenue from January stands at GH¢51.58m, 0.9% fall in revenue target

The Ghana Revenue Authority has disclosed that the authority bagged a total tax revenue of GH¢51,580.17 million from January to September 2022. This is away from its target of GH¢52,046.78 million representing a 0.9% fall. The authority noted that it fell short of the target by GH466.61 million. In a tweet, the GRA said: “The performance represents a nominal growth rate of 29.0% over the same period compared to last year’s collection of 26%. Domestic revenue grew nominally by 28.6%, while customs revenue grew nominally by 29.8%." The Authority stated that since the beginning of the implementation of the levy in May 2022, the government has collected GH¢328.80 million, far from the revised target of GH¢611 million. "We commenced the implementation of this levy in May 2022. Revenue from E-levy as of September 2022 amounted to GH¢328.80 million,” the post read. “It is worth mentioning that on a month-on-month basis we continue to see a 20% improvement in the collection of the levy. It is therefore our expectation that this will continue and improve domestic revenue generation to support government expenditure”, the Commissioner-General, Dr. Amishaddai Owusu-Amoah stated.

Revenue performance from January to end of September 2022 as compared to our target is as follows: •Total tax revenue of GH¢51,580.17M was collected for the period as against a target of GH¢52,046.78M. #RevenuePerformance2022 #DomesticTax #CustomsDivision pic.twitter.com/9f0hdhKKDc— GRA (@GhanaRevenue) October 7, 2022

•We fell short of the target by GH¢466.61M (i.e. 0.9%). •The performance represents nominal growth rate of 29.0% over same period compared to last year’s collection of 26%. •Domestic revenue grew nominally by 28.6% •Customs revenue grew nominally by 29.8% pic.twitter.com/MZtlQ9sj7B— GRA (@GhanaRevenue) October 7, 2022 Watch the latest episode of BizTech below: SSD/BOG