Tag: Ghana Revenue Authority
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GRA confident of meeting revenue target first time in 4 years
The Ghana Revenue Authority is confident of meeting its revenue target for 2019 having collected more than 70 percent of the target set for this year. The Commissioner-General for the Authority, Amishaddai Owusu Amoah, says enough measures have been put in place to ensure that the GH¢45 billion domestic revenue target set by the government…
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GRA warns its officers and public against tax evasion
The Ghana Revenue Authority (GRA) has issued a stern warning to its officers and members of the public who are involved in or facilitate the evasion of taxes. This follows the latest arrest by the authority of two Chinese nationals for falsifying VAT Invoices and evading payment of lawful taxes to the state. Speaking to…
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GRA risks missing 2019 revenue target as benchmark values reduction backfires
The Ghana Revenue Authority (GRA) is set to miss out on its revenue target for 2019 as the decision by government to slash the import benchmark values by about 50 percent takes a toll, Commissioner of Customs, Colonel Kwadwo Damoah has said. The customs division boss explained that the reduction in the benchmark values has…
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Telcos still charging consumers CST upfront on recharge despite Minister’s directive
Consumers of mobile telecommunications services are still being charged the 9 percent communication service tax upfront on recharges, more than a week after the Ministry of Communication demanded a halt to the practice. The Minister of Communications Ursula Owusu-Ekuful last week told a press conference the telcos are being disingenuous in their handling of the…
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GRA issues new directives on auction of goods at the ports
The Ghana Revenue Authority(GRA) has issued new directives on auction of items. The new directives which were contained in circular outlines the processes through which goods in the custody of the GRA will be disposed of to the public. According to the statement, the ratio of distribution of goods by the GRA will now involve…
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Reduction in benchmark values cause of revenue shortfall — Minority
The Minority in Parliament is blaming the reduction in benchmark values at the country’s ports as a major contributory factor to the shortfall in the government’s revenue. Ranking Member of the Finance Committee of Parliament, Cassiel Ato Forson explains that the policy has not yielded the needed revenue six months into its implementation. The Vice…
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Political will coupled with more tax revenue needed for fiscal stability — Economist
Ahead of election 2020, some key stakeholders in the economy have reiterated the need for political commitment to ensure Fiscal discipline (i.e an ideal balance between revenues and expenditure of government) in the short to medium-term. A key step to ensure such discipline came in the Fiscal Responsibility Act which was assented to by President…
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GRA Task Force seizes drinks without excise tax stamp
The Ghana Revenue Authority(GRA)Task Force has seized a quantity of local and imported drinks that had no excise tax stamp on them from BAACAL Wines Shop at Okorase, near Koforidua. The Task Force was made up of staff of GRA from Accra and their counterparts in Koforidua and were enforcing the excise tax stamp law…
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President revokes appointment of fmr Maritime Boss as GRA Board Chair
President Nana Akufo-Addo has appointed Prof. Stephen Adei as the Board Chair of the Ghana Revenue Authority, revoking an earlier appointment of Kwame Owusu, the former Director-General of the Ghana Maritime Authority, to that position. The earlier appointment was met with disapproval from certain sections of the public due to the fact that Mr. Owusu…
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More tax defaulters to be prosecuted to ensure tax compliance — Finance Minister
Finance Minister, Ken Ofori-Atta has hinted that there will be more prosecutions of tax defaulters in 2020 to improve domestic revenue mobilization. Government has missed its domestic revenue mobilization targets for the past three years and is currently lagging behind its GH¢45 billion target for 2019. This is despite some changes made at the top…