The Ghana Revenue Authority (GRA) has surpassed its midyear revenue target by 0.2%, despite the delayed implementation of new revenue mobilization measures.
This achievement was announced by Finance Minister Mohammed Amin Adam during his mid-year budget review to Parliament on Wednesday.
In the 2024 Budget, the government amended existing legislation to enforce new revenue measures aimed at broadening the tax base and improving tax compliance.
Although not all these measures were implemented in the first half of the year, enhanced compliance and enforcement efforts by the GRA have proven effective.
“Mr. Speaker, through enhanced compliance and enforcement, the GRA exceeded its midyear target by 0.2 per cent,” Minister Adam reported.
He also noted that Non-Tax Revenue (NTR) performance exceeded the target by an impressive 14.0% as of the end of June.
To further bolster domestic revenue mobilization, the government has taken steps to ensure full disclosure of internally generated funds by public institutions.
The deployment of the Ghana.Gov Platform to over 1,500 public institutions and the rollout of the Ghana Integrated Financial Management Information System (GIFMIS) to 287 institutions reliant on internally generated funds are key initiatives in this effort.
“By the end of June, 140 public institutions, including the GRA, had gone live and received payments through the Platform, totalling 56.4 billion Ghana Cedis,” Minister Adam highlighted.
This represents a significant increase of 34.6% compared to the same period last year, reflecting the success of these digital financial management tools.
