GRA Mobilizes GHS 68bn Tax Revenue In H1 2024; Exceeds Mid-Year Target By GHS 138m
The Ghana Revenue Authority (GRA) reported an impressive revenue performance in June, which has significantly boosted its total revenue collection for the first half of the year. This strong single-month performance has helped offset the losses recorded in the first three months of 2024, which were attributed to business community uncertainty.
In a press briefing in Accra, Commissioner-General of the GRA, Julie Essiam, credited the robust performance to several transformative measures undertaken by the Authority, including a shift from a stringent enforcement approach to a more collaborative one.
For 2024, the GRA was tasked with collecting GHC145,992.38 billion, marking a 29.1% increase over the GHC113,066.43 billion collected in the 2023 fiscal year. By June, the GRA had collected GHC68,049.33 billion, surpassing the half-year target of GHC67,910.65 billion by GHC138.69 million, which represents a 0.2% increase.
“This achievement represents a nominal growth of 37.6% over the same period last year. Specifically, for the month of June, the devoted staff of GRA outperformed and exceeded the revenue target by an exceptional 21.2% – a significant increase in a single month,” Commissioner-General Essiam announced.
She detailed the monthly performance, highlighting the challenges faced early in the year: January fell short of the target by 12.3%, February by 6.3%, and March by 12.7%. However, a recovery began in April with a 1.9% excess over the target, continued in May with a 1.4% surplus, and culminated in the remarkable 21.2% surplus in June.
The Commissioner-General lauded the business community and all stakeholders for their support and called for continued commitment to end the year on a positive note.
“The outstanding performance in June supported the turnaround to help with a positive half-year performance of 0.2% of the total half-year target. This, ladies and gentlemen, is a testament to the commitment, resilience, and overall dedication of the staff of GRA,” Ms Essiam said.
