Ghana Revenue Authority has disclosed that it has exceeded it’s revenue target for the 2019 fiscal year, ABC News can report.
According to the Board Chairman of GRA, Professor Stephen Adei, the government’s revenue target of GHS43 billion for the 2019 fiscal year was slightly exceeded.
Speaking on Accra-based Joy FM’s morning show on Monday morning, Professor Adei indicated that “the target in January was about 46 billion but the government changed the benchmark rates at the ports so it was revised to a little over 42 billion. We have slightly exceeded that.”
He, however, was unable to quantify the magnitude of the surplus as the authority is still in the process of computing the revenue for the past year.
Professor Adei attributed this feat to the Authority’s performance in December 2019 in terms of revenue mobilization.
He indicated that a target of GHC5 billion per month which was set for the last quarter of 2019 was, although missed in October and November, realized and even exceeded in December.
“It will interest you to note that in December, we more than met our target in revenue collection. We hope that good things are going to happen,” Professor Adei disclosed.
He continued that “in December, we more than met our target in revenue collection…I am having a board meeting because every day they have to calibrate [the figures]. But the last time it was about GH¢5.6 billion for December [Monthly target] while we were looking ¢5 billion so we thank God.”
The GRA Board Chairman, however, expressed his hope and optimism that the new fiscal year presents better fortunes for the Authority.