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Company News of Thursday, January 24, 2019
Source: citinewsroom.com
2019-01-24
The GRA has announced that it will improve revenue collection this year
The Ghana Revenue Authority (GRA) reported that the services of the consulting firm Mckinsey had been outsourced, which represented the improved revenue collection for 2018.
In July 2018, GRA retained the services of a consulting firm, McKinsey, to advise the authority and train its staff to improve revenue collection.
However, some badysts felt that this was unnecessary since the GRA was already putting in place measures to stop the loopholes in revenue collection.
GRA was also implementing some reforms in the port, including cargo tracking notes, as part of efforts to achieve the goal.
The Authority 's records showed that it had not reached its target of 38.8 billion Ghc turnover in 2018.
The GRA was able to raise 37.6 billion ghc, which represents a deficit of 5.7%.
However, Emmanuel Kofi Nti, Commissioner General of GRA, said that McKinney's contribution to last year's revenue collection was important.
"In the last quarter of the year, we played well because they gave us good advice and helped us with the kind of work we did. In fact, at the customs, arriving in the third quarter was not good. And compared to 2017, we recorded negative growth. So with the work of McKinsey that helped us, we did a pretty good job. The customs zone has improved, "Nti said during an interview organized during the Thanksgiving service organized by GCNET.
He pointed out that one of the main problems is the widening of the tax net so that more people in the informal sector pay taxes.
As part of the measures to improve tax collection, the GRA has introduced, among other things, tax identification, in order to facilitate the identification of taxable persons.
But tax experts, including Ali Nakyea, believe that the GRA should instead focus more on easing the tax payment process and building new offices to attract taxpayers.
The GRA is confident that it will reach the 2019 national turnover target of 45 billion cedis.
"In the future, we know we will be fine. The problem was that everyone was waiting and seeing. But now, CTN has come to stay. And we think customs will be fine in 2019, "Nti said.
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