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Jan 18, 2012

GRA exceeds 2011 target by GH¢1,168m


Mr. George Blankson, Commissioner General of Ghana Revenue Authority has announced that GRA has exceed its 2011 target by GH¢1,161.73 million.

Mr. George Blankson, Commissioner General of Ghana Revenue Authority has announced that GRA has exceed its 2011 target by GH¢1,161.73 million.

 

He said, a total of GH¢8706.39 million was provisionally collected against the set target to GH¢7,544.66 million and indicated that the overall collection performance in 2011 was 46.6 percent over the actual collection performance for 2010 which gave a positive variance of 15.4 percent.

Mr. Blankson disclosed this in Accra stressing that, the tax revenue/GDP ratio which fell to 12.7 percent in the wake of the re-basing in 2010, grew up to 15.9 percent in 2011, and attributed the sterling performance of tax revenue last year to synergies in the reform for integration and modernization.

He also enumerated clearance on permit, the introduction of the Ghana integrated cargo clearance system, deployment and widening of the Valuation Assurance programme, establishment of the Rapid Development Force (RDF) of the Customs Division, tax education and engagement with stakeholders across the country among others, as key factors responsible for GRA’s performance.

The Commissioner gave the performance breakdown as follows: target for domestic taxes (Direct) GH¢3,130.38 million but an amount of GH¢3,733.94 million as collected;, excess of GH¢603.60 million; domestic taxes (Indirect) GH¢1,345.76 million amounted collected GH¢1,367.64 million (excess GH¢21.85 million) whilst customs target of GH¢3,068.49 million yielded GH¢3,604.82 million an excess of GH¢536.30 million an excess if GH¢536.30 million.

Mr. Blankson said, for the 2012 fiscal year, the GRA has been tasked to mobilize GH¢11,166.57 million for the treasury which will be 28.3 percent over and above the 2011 actual collection.

Source: ISD