BUSINESS

GRA exceeded revenue collection target by GHC265 million in 2021

The Ghana Revenue Authority (GRA) beat its target for the year 2021 by GHS265.39 million.

The Ghana Revenue Authority (GRA) beat its target for the year 2021 by GHS265.39 million.

READ ALSO: Ghana to target 30,000 engineering graduates annually – President Akufo-Addo

A total of GHS57.32 billion in revenue was collected by the Authority in 2021 against the GHS57.055 billion target.

This is as a result of the removal of loopholes for tax avoidance by some multinationals in the extractive sector, paying increased attention to sectors of the economy that showed growth and the deployment of digital and specialized monitoring platforms for tax collection purposes.

The total amount collected by the authority last year was about 0.5 percent or GHS265.39 million in excess of the target for GRA set by the government.

The ratio of tax-to-gross domestic product (GDP), measuring the share of economic output collected in taxes to fund development, rose to 13.4 percent following recent years of hanging around 12 percent.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: freedomradiogh.com

 

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button