Finance minister, Ken Ofori-Atta, has applauded the Ghana Revenue Authority (GRA) for putting in efforts to mobilise revenue for the country beyond its target.
The GRA has reported over ¢3 billion above its revenue target for 2022.
Speaking to Joy Business after inaugurating the Independent Tax Appeals board in Accra, Mr. Ofori-Atta said more will be needed from the authority in order to close revenue leakage and boost the tax revenue to Gross Domestic Product (GDP) ratio gap, which presently hovers around 14%.
Establishment of the board is aimed at promoting fairness in tax administration and boosting investor confidence in the country's tax systems.
According to the Finance Minister, this will support moves by the government to find efficient ways of adjudicating on tax issues in the country.
He is optimistic that the authority will make more revenue for the state moving forward.
“I think they did well and we will expect more of such. They surprised us last year by giving more than the target and I think it’s a good trajectory. Bbut the concern is how to raise the ratio so that more can be mobilsed”.
“When you look at the GDP [Gross Domestic Product] as against our tax proportion and what others are taking in the sub-region, we’re still far behind. And more is expected of us whether the Ministry of Finance or the Ghana Revenue Authority”, he mentioned.
Speaking on behalf of the committee, Chairperson and Retired Supreme Court Justice, Lawrence Mensah assured the government and the private sector of fairness in the discharge of their duties.
“I can assure you and the people of Ghana that our committee will deliver our mandate with integrity to avoid any distortion in government revenue mobilisation drive,” he assured.
The 11-member committee is expected to begin work immediately.
Latest Stories
-
First Atlantic Bank wins ‘Digital Bank of the Year’
19 mins -
Ejisu by-election comes off today
22 mins -
Cedi to weaken further; year-to-date depreciation hits 13.35%
22 mins -
Bond market: Total market turnover declined by 32.36% to GH¢772.30m
27 mins -
Fuel price increases expected to slow down in coming days – IES
30 mins -
Prisons Service says it is probing officers vs. soldiers clash in Bawku
36 mins -
Border restrictions impact businesses and residents amid Togo elections
2 hours -
We’ve helped close leakage gaps – SML maintains
2 hours -
Ketu South MCE commissions an ultra-modern toilet facility in Aflao
2 hours -
Sunyani East parliamentary elections: Ransford Antwi to contest as an independent candidate
2 hours -
Publish full KPMG report on SML/GRA contract – NDC to Akufo-Addo
2 hours -
Inspire Action trains 24 people in vocational training
2 hours -
The government pays little attention to the health sector – Sammy Gyamfi
2 hours -
Peter Amewu mourns after mother’s death
2 hours -
Contract between the government and SML unlawful- Sammy Gyamfi
2 hours