The Ghana Revenue Authority (GRA) has exceeded its revenue target for 2024 by mobilizing GH₵153.5 billion.
Data shows that the GRA mobilized GH₵7.5 billion more than the GH₵145.9 billion targeted for 2024, representing 5.3 percent higher revenues than the target.
The performance, according to the GRA, represents a nominal growth of 35 percent compared to 2023.
The addition of Sanitation Debt Recovery Levy, Energy Sector Debt, Sanitation and Pollution Levy, put the total revenue at GH₵157. 9 billion.
The component of domestic revenue grew by 31.6 percent, while Customs revenue grew by 47.0 percent.
Most of the direct tax handles mobilized more than what was anticipated by the GRA.
For instance, the GRA was hoping to get GH₵30 billion from Corporate Tax. The authority however ended 2024 collecting GH₵38 billion.
Mineral Royalty brought in GH₵5.2 billion as against the target of GH₵3 billion.
Airport tax brought in GH₵1.6 as against a target of GH₵1.3 billion.
Persons close to the GRA told JOY BUSINESS that apart from some tax handles doing very well, the authority’s quest to press hard on compliance also helped in meeting the target for 2024. But some tax handles performed below target.
The GRA was hoping to collect GH₵2.1 billion for e-levy in 2024. However, it ended up realizing GH₵2 billion.
For the COVID-19 Heath Recovery Levy (Flat Rate). The GRA was targeted at GH₵128 million but got GH₵86 million.
For the COVID-19 Heath Recovery Levy (Standard Rate), the GRA got GH₵2.7 billion as against a GH₵4.2 billion target.
