The Ghana Revenue Authority has reported a significant revenue performance in the month of June to support its total revenue collection for the first half of the year.
The single-month performance has therefore overtaken the previous losses the Authority recorded in the first three month of the year as a result of uncertainty in the business community.
Addressing Journalists on the performance in Accra, Commissioner-General of the Ghana Revenue Authority, Julie Essiam attributed the performance to some transformations undertaken by the GRA including changing its enforcement approach to a more collaborative approach and among others.
In 2024, the GRA was tasked to collect GHC145, 992.38 Billion Cedis, representing a 29.1% growth over the GHC 113,066.43 Billion Cedis, that was collected in the 2023 fiscal year.
“With the commitment of the outstanding staff of this Authority, I am happy to announce that, as at June this year, the GRA had collected a total of GHC68, 049.33 billion Cedis, against a half-year budget of GHC 67,910.65 billion Cedis, and exceeding the cumulative mid-year target by GHC 138.69 million Cedis, which represents 0.2% increase; therefore exceeding mid-year budget by 0.2%.
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.
All of this was achieved against the headwinds of a very difficult first quarter, and this, ladies and gentlemen, is a testament to the commitment, resilience, and overall dedication of the staff of GRA” Commissioner-General Julie Essiam told the media.
To break down the details of the performance to date, Ms Essiam said “The month of January, we fell below target by (12.3%)
February also showed a shortfall of (6.3%). March suffered a similar trend with an increased negative deviation of (12.7%).
We started to rebound from April, and exceeded the target by 1.9% that month, then exceeded again in May by 1.4%; and subsequently a significant achievement of a positive increase of 21.2% in June As we can see, the outstanding performance in June supported the turn around to help with a positive half-year performance of 0.2% of the total half-year target”.
The Commissioner-General praised the Business Community and all stakeholders for their support and urged for more commitment to end the year on a positive note.
