The Ghana Revenue Authority (GRA) has exceeded its mid-year target by GH¢138.69 million, collecting a total of GH¢68.05 billion for the first six months of the year. This accomplishment demonstrates the GRA’s dedication to enhancing revenue mobilization and meeting its targets.

The GRA’s mid-year performance shows a significant improvement, with a nominal growth of 37.6% over the same period last year. This upsurge in revenue collection can be attributed to the authority’s concerted efforts to improve compliance, strengthen enforcement, and implement innovative initiatives.

One of the key factors contributing to the GRA’s success is the implementation of the Electronic VAT Invoicing System. This system has been instrumental in enhancing compliance and monitoring VAT transactions, with 614 taxpayers onboarded as of June 30.

Furthermore, the GRA has launched a Special Voluntary Disclosure Programme, encouraging resident individuals and entities to disclose previously undisclosed financial accounts or incomes held abroad. This initiative aims to promote tax compliance and boost revenue collection.

The GRA’s achievement is a testament to the government’s commitment to improving revenue mobilization and meeting its targets. The authority’s focus on innovation, compliance, and taxpayer education has been instrumental in achieving this milestone.

As the GRA continues to work towards meeting its targets, it is essential for taxpayers to comply with their tax obligations and take advantage of the authority’s initiatives to disclose and regularize their tax affairs.