GRA expresses readiness to implement new revenue measures

GRA expresses readiness to implement new revenue measures

The Ghana Revenue Authority (GRA) has expressed its readiness to implement new revenue measures recently passed by Parliament.

Government described the measures as key requirements to enable it to secure an International Monetary Fund (IMF) programme.

Following its passage, President Akufo-Addo has appended his signature to give legal effect to them GRA says it’s ready for implementation.

Deputy Commissioner of the Customs Division of the GRA Emmanuel Ohene explained that government introduced the taxes to ensure the country attains sustainable levels.

JoyNews/AdomNews · GRA expresses readiness to implement new revenue measures

“For us as a division of the GRA, we will strive to carry out our mandate without fear or favour to ensure that the right things are done.

“We need to build a Eurobond society and society’s area built on taxes that we pay,” he told JoyNews’ Blessed Sogah on the sidelines of the Africa Continental Free Trade Area business summit in Cape Town South Africa.

Meanwhile, the Pensioner Bondholders Forum says it will not be participating in the Finance Ministry’s Technical Committee tasked to consider ways of enabling government to meet its commitments to investors.

A suggestion up for discussion is to have investors swap matured principals into Treasury Bills anytime government is unable to meet its repayment commitments.

Bondholders have in the last few weeks been demanding repayment of matured bonds with the Pensioner Bondholders Forum serving notice of picketing the Finance Ministry from April 28.

Convener of the Individual Bondholders Forum, Senyo Hosi says the committee’s work is to find a lasting solution to the current situation.

JoyNews/AdomNews · PBF and IBF on partaking in Finance Ministry’s Technical Committee

“This one actually comes up with solutions on a mechanism to address the payment of outstanding coupons. Not just outstanding coupons but government challenges.

“We have liquidity crises and that is what they are trying to work around the pension funds to minimise the liquidity…,” he said.

Also, the Pensioner Bondholders Forum led by Dr Adu Anane Antwi says they are not interested in the arrangement.

According to him, they will ensure that they are paid when their bonds are due.

“For those of us who were issuer exempted, we are not interested in that. We are not of the committee we are interested in any arrange men tot whatsoever,” he said.