Compliance Push Sees GRA Exceed GHS 145.9 Billion 2024 Revenue Target by 5.3%
The Ghana Revenue Authority (GRA) has surpassed its 2024 revenue target, collecting GHS 153.5 billion, a 5.3% increase over the projected GHS 145.9 billion.
This translates to a nominal growth of 35% compared to 2023.
Key drivers of this performance include robust growth in domestic revenue (31.6%) and customs (47%), exceeding expectations across several tax handles. Notably, Corporate Tax collections reached GHS 38 billion, surpassing the GHS 30 billion target.
Mineral Royalty revenues also significantly outperformed projections, reaching GHS 5.2 billion against a target of GHS 3 billion.
The GRA’s intensified compliance efforts played a crucial role in achieving these results.
While the e-levy collected GHS 2 billion, falling slightly short of the GHS 2.1 billion target, and the COVID-19 Health Recovery Levy (Standard Rate) yielded GHS 2.7 billion against a target of GHS 4.2 billion, the overall performance demonstrates the authority’s success in expanding its revenue base.
The addition of new levies, including the Sanitation Debt Recovery Levy, Energy Sector Debt, and Sanitation and Pollution Levy, brought the total revenue collected to GHS 157.9 billion.
