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The Ghana Chamber of Commerce and Industry announced that it will work with the Ghana Revenue Authority (GRA) to improve tax revenues in 2019.
Dr. Nana Appiagyei Dankawoso 1, Speaker of the House, said that the Chamber would provide advice on the best ways to broaden the tax net.
"There are so many ways for the government to get revenue from capital projects. For us, we want to find the best way to widen the tax net so that the government gets enough money to finance its capital expenditures. Increasing collaboration with the Ghana Revenue Authority (GRA) is a necessity, "he told JoyBusiness in an interview.
The GRA in 2018 had a target of total tax revenue of GHG 39 billion in Ghana, more than Cedis 2 billion less than its targets.
Revenue generation and the GRA
The Ghana Revenue Authority (GRA) has expressed appreciation for its strategic partner, McKinsey & Co., a contracted international consulting firm, which is committed to offering its expertise to help stimulate income generation.
Emmanuel Kofi Nti, Commissioner General of the Authority in an interview with JoyBusiness, said the work done by the consultant up to now painted a bright picture of revenue for 2019.
"In the last quarter of the year, we worked well because they provided us with good advice and helped us in the kind of work we did; Especially in the customs sector, the collections until the end of the quarter were not so good, "said the Commissioner.
Speaking Friday on the sidelines of GCNet's Thanksgiving service, he said, "We are confident that, starting in 2019, things should be much better than those of 2018."
Revenue target for 2019
According to the annual GRA expenditure estimates for 2019, the total projected tax revenue for the year in question is $ 45 billion compared to the revised budget of $ 38 billion for 2018.
By the end of the year, the Authority plans to register and allocate taxpayer identification numbers to three million taxpayers to help them raise funds.
Meanwhile, Dr. Nana Appiagyei Dankawoso 1 shared with JoyBusiness Chambers' priorities for 2019, including the creation of a small business clinic. This clinic will provide business consulting services as part of the day-to-day management of member companies.
The role of McKinsey
McKinsey's role is to help GRA reach its revenue goal.
Last year, the GRA earned ¢ 22.6 billion on a target of ¢ 24.46 billion, a difference of 1.80 billion ¢. It was in this context that the services of the consulting company had to be called upon.
Mckinsey & Co. has been mandated to train and develop the skills of the GRA staff and help develop a state of mind of constant improvement through the search for ideas to change and improve the skills of the staff of GRA. ;Authority.
McKinsey's commitment was also to evolve the GRA systems to be comparable to the best revenue management system in the world, through streamlined processes and innovation.
The Commissioner General of the GRA has refuted claims that the consulting firm came to stay and exhaust the public funds.
He badured, however, that the group would leave the country as revenue tactics increase.
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