Value Added Tax (VAT) collections have seen significant growth of more than 90.00% year-on-year over that of 2022 so far in 2023. 

According to data from the Ghana Revenue Authority (GRA), this was due to measures including its enforcement operations

Speaking to Journalists after an enforcement exercise in Accra, Area Manager for Accra Central, and Assistant Commissioner Joseph Annan said the growth in VAT is a phenomenon compared to the previous year’s performance.

According to him, the enforcement exercise has seen some impact together with the introduction of the electronic VAT system which ensures prompt monitoring of tax payments between taxpayers and shop owners.

“In May this year, we have studied the growth pattern yea- on-year and I can say that last May [2022] we had a collection of about 646 million but this year May [2023], the figure has jumped to about 1.2 billion on average according to Bank of Ghana report on the established collection of VAT on the economy”.

“In calculating, this works to around 92.4 percentage point’s increase in the VAT. Iif we are to do a year-on-year comparison, it is very impressive”, he noted.

He added that the GRA is therefore increasing its presence in some parts of the country as part of the move to rake in more revenue for the country.